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
Indian Real Estate Sees Resurgence in Private Equity Investments
Private equity investments in Indian real estate surged 15% YoY to USD 3 billion in H1 2024, driven by growth in warehousing and residential sectors.
Government Offers Flexibility to Taxpayers on Capital Gains Tax for Real Estate Transactions
In a move to simplify tax calculations, the government has introduced an option for taxpayers to compute capital gains tax on real estate transactions. This change is expected to benefit property sellers and reduce disputes over tax liabilities.
Small Cities, Big Opportunities: How Tier-2 and Tier-3 Cities are Revolutionizing the Real Estate Market
Mid-tier cities like Faridabad, Lucknow, Vrindavan, Ludhiana, Chandigarh, Indore, Dehradun, and Jaipur are becoming hotspots in the real estate market, offering a low-cost, peaceful life and high returns on investment.
Pre-Budget Expectations for the Real Estate Sector in Maharashtra
MahaRERA appoints NAREDCO Maharashtra as the first self-regulatory organization. The Maharashtra Real Estate Regulatory Authority makes a significant step towards ensuring transparency and accountability in the real estate sector.
Barbara Corcoran to Headline Kinexions 2025: A Premier Supply Chain Conference
Real estate mogul and entrepreneur Barbara Corcoran will take center stage at the premier supply chain conference of the year in Ottawa, Ontario, Canada.
Housing Sales Surge in India's Top 15 Tier-II Cities by 20% in Value
Coimbatore leads the growth with a 36% increase in sales volume, while Visakhapatnam's real estate market experiences a 21% downturn.