NOIDA, India – June 26, 2025 – Greenbay Infrastructure faces a critical deadline from the Yamuna Expressway Industrial Development Authority (YEIDA), which has mandated a deposit of Rs 110 crore by June 30, 2025. This payment is an overdue installment, and failure to remit it will lead to the cancellation of the 100-acre land parcel designated for a township in Sector 22D.
This severe directive follows Greenbay Infrastructure’s repeated requests for extensions on their financial commitments. The developer, allocated the land in February 2011, has attributed its payment difficulties to an inability to gain complete control of the site, noting that approximately 30% of the land remains occupied and cultivated by local farmers.
The land in question was initially assigned to Greenbay in early 2011. A portion of this allocation was subsequently sub-leased to Emerald Properties in January 2014 for a group housing scheme. Greenbay also proceeded to develop its own “Golf Village” township, which includes 691 plots, with 300 already formally registered.
YEIDA officials confirmed Wednesday that this ultimatum was necessitated by Greenbay’s failure to make timely payments, even after being granted access to the state government’s rehabilitation program designed for stalled projects.
The rehabilitation policy, introduced in 2023, offered relief to developers facing project delays. It allowed them to pay 25% of their revised outstanding dues upfront, with the remainder spread across installments. For Greenbay, the total recalculated dues amounted to Rs 441 crore. Greenbay paid the initial 25%, Rs 110 crore, by April 2024, with subsequent payments scheduled from January 2025 through July 2026 under the agreement.
However, Greenbay sought an extension for the Rs 110 crore installment originally due in January 2025. While YEIDA CEO Arun Vir Singh granted a three-month deferral based on Greenbay’s land access issues, the developer still failed to make the payment by the extended April 15 deadline.
On April 15, Greenbay submitted a new proposal to YEIDA, requesting authorization to sub-lease a 4,330 square meter commercial plot within the proposed township and a revised payment schedule. In their communication, Greenbay underscored the importance of this sub-lease for meeting their financial commitments. They acknowledged that if they could not adhere to the revised payment timeline, the sub-lease could be revoked without objection.
Nevertheless, YEIDA rejected this latest request earlier this month. The authority clarified that the rehabilitation package explicitly permits sub-leases only to homebuyers, not for commercial properties. The CEO stated emphatically, “If Greenbay Infrastructure fails to deposit Rs 110 crore by June 30, 2025, the allotment for the township project will be revoked.”
A Greenbay spokesperson indicated Wednesday, “We are prepared to provide an affidavit confirming that all proceeds from this sub-lease would be directly remitted to YEIDA.” The developer also affirmed its commitment to completing the project and transferring possession to buyers. However, the spokesperson added, “The Authority has not addressed our concerns. We requested a waiver of interest on land we cannot access due to farmer issues, legal stays, or ongoing farming, but this has not been taken into consideration.”
The upcoming days are critical for Greenbay Infrastructure as the June 30 deadline approaches, with the future of its 100-acre township project hanging in the balance.
