by THO
The Yamuna Expressway Industrial Development Authority (Yeida) has approved a plan to develop a 10,500 hectare urban centre — about half the size of Noida city — along the 165km Yamuna Expressway to Agra, with an aim to facilitate the setting up of manufacturing units to generate jobs and new business opportunities in the region, officials who took part in the authority’s 79th board meeting on Monday said.
While the board also approved Yeida’s Master Plan 2041, a blueprint for the next 18 years for developing areas under its jurisdiction, it did not arrive at a decision on hiking the toll on Yamuna Expressway, said officials.
Speaking about the planned urban centre, officials said the board allowed Yeida to prepare a detailed project report (DPR) of this mega industrial project and start procuring the land as the demand from investors for industrial land has increased in view of the upcoming Noida International airport in Jewar, The first phase of the greenfield airport is set to become operational by the end of 2024, said officials.
Yeida will develop four dedicated special economic zones (SEZ) to make the urban centre the biggest industrial zone in the region once developed, said authority officials.
One SEZ will house manufacturing units of electric vehicles and its related products, while the second SEZ will be dedicated for units manufacturing electronic products. The third SEZ will be home to units manufacturing semiconductors and related products, while the fourth SEZ, officials said, will be dedicated to data centres.
“The board on Monday approved the Master Plan 2041, which also contains the blueprint of this mega urban centre. We will soon prepare a detailed project report of this project to take it to the next stage. It will have four special economic zones and each zone will be home to one particular type of industry. This is a unique project that will boost the economic growth of the region,” said Arun Vir Singh, chief executive officer, Yeida.
The Master Plan 2041 approval also means that Yeida will develop a logistics park in Aligarh, a heritage city in Mathura, besides other projects in the urban areas of Gautam Budh Nagar and Bulandshahr, said officials.
Yeida, in its Master Plan 2041, has kept a target to develop housing and other facilities for 3.9 million population. The master plan also envisions that workers should get accommodation in industrial units along the expressway.
The Yamuna authority has reserved 35% area for green use, 17% for mixed land development, 23% for industrial use, 5% for commercial use, 13% for traffic and utility services, 4% for an aviation hub and the remaining for other uses in the urban centre, which is to be developed on land from 1,194 villages along the expressway.
In other decisions, the board approved the plots of size 10 acres or more, for institutional projects such as colleges, hospitals, medical college, technical institutes and management colleges, will henceforth be allotted only on an interview basis, instead of e-auction.
Officials sad this decision was taken with a view to provide land at cheaper rates to educational institutions. In an e-auction, rates go up with each bid, which tend to discourage institutions.
The board also decided to give additional time to around 42,000 plot allottees of industrial and residential schemes to execute lease deed, which they can now do till June, 30, 2024 without any penalty. These allottees of 2008-09 are to execute the lease deed, said officials.
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The Yeida board also decided to adopt the recommendations of the realty policy notified by the government on December 21, 2023, that paves the way for execution of registries by homebuyers in stalled housing projects. There are at least 14,000 homebuyers in Yeida areas who will benefit from this, said officials.
“We have calculated the dues and also held discussions with nine realtors in our area. All that remains is a final nod and we will issue registry permission. But waivers on dues of developers will be granted only in the next board meeting to be held in February,” said CEO Singh.
The Yeida has also gave an in-principle nod for the proposal to allot 125 acres to Tarq Semiconductors Private Limited, a Hiranandani Group company, which plans to invest around ₹17,000 crore on the project, officials said.
“As per the instructions of the state and the Union government, we have approved the proposal as the project will create employment, help in development of skilled labour and boost revenue collection,” said Singh.
