by THO
GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) on Thursday released ₹681 crore to acquire land for the development of a sector dedicated for industrial development — named Sector 10, located along Yamuna Expressway near the upcoming Noida International airport project.
Yeida needs to acquire 243.96 hectares of land for the development of Sector 10. Earlier last month, it had released ₹72 crore for the same purpose.
“We have released this fund to the Gautam Budh Nagar district administration that is already acquiring the land for this project and also for the Noida International greenfield airport project’s expansion project. The process to acquire the land had been started on February 4, 2024, when the Uttar Pradesh government had issued necessary notification in this regard,” said a Yeida official requesting anonymity.
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Uttar Pradesh governor Anandiben Patel on February 4, 2024 in her notification had stated that the governor is also “pleased to authorize the collector for the purpose of land acquisition to take necessary steps to enter upon and survey of land, take levels of any land, dig, and do all the acts required for proper execution of work” as provided and specified under section 12 of the act.
To be sure, the Yeida needs the land for the development of this sector that will be a unique industrial hub near Noida airport along Yamuna Expressway.
The Sector 10 will have five industrial parks — a plastic processing park, footwear park, handicrafts park, electric vehicle park and transport hub.
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According to the GB Nagar administration official, as the social impact assessment survey and other formalities are completed now they will seek objections from the general public under Section 15 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.
“We will also implement section 15 of the act so that no person buys or sells the land notified for the acquisition without permission of the district magistrate,” the official said.
“Once all formalities are completed as per the act, we will start distribution of the land compensation, and then acquire the land. Once it is done as per the law we will hand over the land to the Yeida for the purpose it has been acquired for,” the official added.
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Yeida has already released ₹3,550 crore to administration for the land acquisition of airport’s second phase and it is likely to release ₹1,400 crore more required to be distributed among the farmers.
The state government had in 2020 handed over 1,334 hectares in Jewar to the Yamuna International Airport Private Limited (YIAPL) — a 100% subsidiary of
Zurich Airport International AG, which has been incorporated as a special purpose vehicle (SPV) to develop the Jewar airport that will become operational by 2024 end with 1 runway that is being developed under phase 1.
For the second phase, the Gautam Budh Nagar administration is acquiring 1,363 hectares for which all processes are already completed and now the admin is distributing the compensation among farmers.
