by THO
The Yamuna Expressway industrial development authority (Yeida) has decided to acquire 6,000 hectares of agricultural land to develop a city near the Noida International Airport along the Yamuna Expressway, people familiar with the matter said. Yeida said demand for residential, commercial, institutional, and other kinds of land has increased because the Noida airport is set to become operational by the end of 2024.
Yeida has earmarked ₹14,000 crore to acquire 6,065 hectares of land in the next two years, they added.
“We aim to spend around ₹63,500 crore to develop basic civic services including roads, sewers, parks, and electricity so that the urban centre on 6,000 hectares of land can be developed. We will acquire land from 40 villages through different methods including direct purchase from farmers and also by using the Act 2013,” said Arun Vir Singh, chief executive officer of Yeida.
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Yeida said it will use the land to set up new sectors, civic amenities, and industrial cities. Of the total 6,065 hectares of land, 1,609 will be purchased directly from farmers through mutual agreement, 4,076 will be acquired through the land acquisition process and 380 hectares will be reclaimed as this is government land.
Yeida will acquire the land from 40 villages including Rabupura (994 hectares), Tirthali (479 hectares), Karauli Bangar (250 hectares), Muradgarhi (336 hectares), Tappal-Bajna (771 hectares), Mudrah (290 hectares) and Kallupura (218 hectares), Mayana (252 hectares), among others.
The land will be used to set up new sectors including 5, 6, 7, 8, 9, 10, and 11, besides acquiring the remaining areas for sectors 22E, 28, 29, 32, 33.
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Aside from this, 712 hectares will be acquired for the Tappal-Bajna Urban Centre and 528 hectares in two villages (Dorpuri and Syarol) villages for a logistic park. The process to acquire land from four out of six villages is already under process in Sector 10, and the proposals for acquiring land in Tappal-Bajna, and for sectors 5,6, 7 and 8 have been sent to the government, Yeida officials said.
The state government issued a notification in March to acquire land to develop Industrial Sector 10. Five industrial parks, including an electronics manufacturing park, will be developed here.
Fintech City is proposed in Sector 11, while Japanese City will be developed in Sector 5. Yeida has designated Sector 5A for the Japanese city and Sector 4A for the Korean city. For the Japanese city, 395 hectares of land will be acquired, and for the Korean city, 365 hectares will be needed.
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To arrange the funds, the authority has got around ₹3,300 crore in interest-free loans so far for carrying out the land acquisition process. Yeida has decided to contribute its share from profits earned over the next few years, revenue generated from various plot schemes, and loans from banks to complete the land acquisition process.
