The Allahabad High Court has issued an interim order preventing the Yamuna Expressway Industrial Development Authority (Yeida) from cancelling the land allotment of Greenbay Infrastructure Pvt. Ltd., a real estate developer behind a stalled township project in Sector 22D. The township project covers 100 acres and impacts 691 homebuyers, many of whom have been awaiting possession and registration of their homes for over a decade.
The order, issued by Justice Pankaj Bhatia, came just a day before Yeida’s July 31 deadline for Greenbay to clear dues amounting to ₹118 crore. According to the court, no coercive action should be taken until a decision is made on Greenbay's interim relief plea. The Uttar Pradesh industrial development authority has been directed to resolve the matter within four weeks.
Greenbay was allotted the land in 2010-11, with the requirement to deliver possession and complete property registration within four years. However, only 300 out of 691 homebuyers have received possession so far.
The real estate company claims it has already deposited ₹60 crore and is seeking relief under the state's zero-period policy, citing incomplete land possession and delays caused by the authority. As of now, the company says Yeida has not handed over possession of 30 acres, making it difficult to proceed with development and registry formalities.
Greenbay project director Amit Kumar Sharma stated that while the company has made partial payments — ₹40 crore in June and ₹20 crore in July — additional time is needed to settle the remaining dues. He also said the company is seeking permission to sublease commercial units and complete property registration to raise further funds. Sharma noted that 70% of the land belongs to the state and not to farmers, arguing against additional compensation demands.
A Yeida official confirmed that despite receiving part payments, Greenbay missed the original and extended deadlines for dues, including ₹101.90 crore initially due on January 15, and another revised deadline of April 15. The developer also owes ₹7.59 crore in lease rent.
Following repeated defaults, Yeida issued a notice on July 8 threatening cancellation of the allotment. In response, Greenbay approached the high court seeking interim relief and requested waivers under the Uttar Pradesh government’s zero-period policy introduced in December 2023 for legacy-stalled projects.
Under the policy, Greenbay was required to pay 25% of recalculated dues (₹110.29 crore) by April 28, 2024, with the remaining amount payable in instalments. The developer requested recalculation based on 10% simple interest and inclusion of ₹2.4 crore in lease rent pending since 2021. A revised payment schedule was issued in August 2024, and the company was permitted limited subleasing of housing units in proportion to deposits made.
In October 2024, Greenbay sought further extension citing delayed land possession. The Yeida board granted three months in November, but the company again missed payment deadlines. Instead, it requested permission to sublease a 4,330 sqm commercial plot and submitted a proposed payment plan. However, Yeida rejected the request, citing policy limitations that prohibit subleasing for commercial use in such cases.
Many homebuyers have expressed frustration over the prolonged delays. “We have been waiting for registration for the last 15 years, but only get assurances from the authority and the developer,” said Manoj Kumar, one of the affected buyers.
The high court has asked the revisional authority to expedite resolution of the case and provide a compliance report. The matter will be listed again in four weeks.
Yeida officials have stated they will follow the court's directions and take further steps in accordance with the law.
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