The Yamuna Expressway Industrial Development Authority (YEIDA) has announced its plan to invest Rs 14,000 crore over the next five years to acquire 6,065 hectares of land. This acquisition is strategically aimed at developing urban centres, industrial zones, and logistics parks around the upcoming Noida International Airport.
Land Acquisition Strategy
Of the total 6,065 hectares:
- 4,076 hectares will be acquired through the official land acquisition process.
- 1,609 hectares will be purchased directly from farmers through mutual agreements.
- 380 hectares are government-owned lands that will be reclaimed.
The land will be acquired from 40 villages located in proximity to the Jewar Airport along the Yamuna Expressway. Some of the key villages involved in the acquisition include Tappal-Bajna, Tirthali, Karauli Bangar, Rabupura, and Muradgarhi.
Financing Plan for the Project
The acquisition and development process will be funded through government sources and bank financing. YEIDA has also partnered with the state-owned Housing and Urban Development Corporation (HUDCO) for securing financial assistance. The funds will be used to attract investment in the region and boost economic growth.
YEIDA’s MoU with HUDCO
A Memorandum of Understanding (MoU) was recently signed between YEIDA and HUDCO. Under this agreement:
- HUDCO will provide long-term financial support for land acquisition and related projects along the Yamuna Expressway.
- Consultancy services will also be offered by HUDCO from project planning to execution.
- Additionally, a Habitat Centre will be developed on a 25-acre land and a Convention Centre on a 15-acre plot near the Expressway.
Both the Habitat Centre and the Convention Centre will be built in collaboration with NBCC India under a public-private partnership (PPP) model.
Investment Interest in the Region
With the Noida International Airport nearing completion, global and domestic investors are showing keen interest in setting up businesses around the region. YEIDA officials stated that there have been numerous proposals from sectors like manufacturing and logistics. The Authority plans to utilize the newly acquired land to accommodate these investments and foster further economic development.