Yeida's Ambitious Plan: Acquiring 6
Yeida is set to acquire a massive 6
Urban DevelopmentLand AcquisitionNoida International AirportYamuna ExpresswayReal Estate NewsReal Estate NewsMay 27, 2024
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 government land. Yeida has earmarked ₹14,000 crore to acquire 6,065 hectares of land in the next two years.
The authority aims to spend around ₹63,500 crore to develop basic civic services, including roads, sewers, parks, and electricity, to develop the urban centre on 6,000 hectares of land. Yeida will acquire land from 40 villages through different methods, including direct purchase from farmers and using the Land Acquisition Act 2013.
The acquired land will be used to set up new sectors, civic amenities, and industrial cities. 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.
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.
To arrange the funds, Yeida has got around ₹3,300 crore in interest-free loans so far for carrying out the land acquisition process. The authority 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.
The Yamuna Expressway Industrial Development Authority (Yeida) is a statutory authority responsible for the development of the Yamuna Expressway industrial area in Uttar Pradesh, India. Yeida was established in 2001 to promote industrial development in the region.
The Yamuna Expressway Industrial Development Authority (Yeida) is a statutory authority responsible for the development of the Yamuna Expressway industrial area in Uttar Pradesh, India. Yeida was established in 2001 to promote industrial development in the region.
Frequently Asked Questions
How much land will Yeida acquire for urban development?
Yeida will acquire 6 000 hectares of agricultural land for urban development near the Noida International Airport
What is the estimated cost of developing the urban centre?
Yeida aims to spend around ₹63 500 crore to develop basic civic services including roads sewers parks and electricity to develop the urban centre on 6 000 hectares of land
How will Yeida acquire the land?
Yeida will acquire land from 40 villages through different methods including direct purchase from farmers and using the Land Acquisition Act 2013
What kind of developments are planned on the acquired land?
The acquired land will be used to set up new sectors civic amenities and industrial cities including Japanese City and Korean City
How will Yeida arrange the funds for the land acquisition process?
Yeida has got around ₹3 300 crore in interest-free loans so far for carrying out the land acquisition process and will also contribute its share from profits earned over the next few years revenue generated from various plot schemes and loans from banks
Related News Articles
Rising Stars of Real Estate: Top Cities to Invest in This Year
Discover the cities that are experiencing a surge in property prices
Real Estate Sector Grapples with Indexation Benefit Removal
The real estate sector is reeling from the removal of the indexation benefit for property sales, with industry players divided on its impact.
Luxury Real Estate Market in India: A Surge in High-End Property Demand
India's luxury real estate market is witnessing a significant surge in buyer interest, fueled by evolving preferences for high-end properties.
Pune Court Approves Questioning of All 10 Accused in Porsche Crash Incident
A court in Pune has given the green light to question all 10 individuals implicated in the Porsche crash case, including the 17-year-old driver whose father is a prominent real estate developer. The crash, which has drawn significant public attention, is
PMC's Property Tax Defaulters List Reveals 59 Central and 287 State Govt Properties
Tax defaulters in Pune, Pune Municipal Corporation (PMC) list, property tax, central government properties, state government properties
Konark Gowariker to Marry Niyati Kanakia in a Grand Mumbai Wedding
Filmmaker Ashutosh Gowariker's son, Konark Gowariker, is set to tie the knot with Niyati Kanakia, the daughter of real estate mogul Rasesh Kanakia, on March 2 in Mumbai. The wedding is expected to be a star-studded affair.