The Yamuna Expressway Industrial Development Authority (YEIDA) has doubled its budget to Rs 10,000 crore approval for the 2024-25 financial year to develop ten new sectors near the upcoming airport.
The Yamuna Expressway Industrial Development Authority (YEIDA) has doubled its budget to Rs 10,000 crore approval for the 2024-25 financial year to develop ten new sectors near the upcoming airport. The authority has also decided to increase the land allotment rate by 5.14% in all categories of land, including residential, commercial, institutional, and mixed land use.
YEIDA needs to acquire land for the new dedicated developmental zones, and the new rates for housing land for those who want to buy a plot are ₹25,900 per square metre (sqm). The new sectors are to be developed on a priority basis. The new rates for industrial plots and institutional land are ₹8,670-14,240 per sqm and ₹7,930-17,150 per sqm, respectively.
The Yamuna Expressway Industrial Development Authority (YEIDA) on Tuesday announced a budget of almost Rs 10,000 crore for 2024-25 fiscal, making provision of Rs 700 crore for Noida Airport expansion and Rs 300 crore for rapid rail connectivity.
"For acquisition of land for the third phase expansion of the airport in Jewar, a provision of Rs 700 crore has been made in the budget. Also, a provision of Rs 300 crore has been made in the budget for the rapid rail, which would be connecting the airport in Jewar to Ghaziabad," YEIDA's CEO Arun Vir Singh told reporters.
The airport is a PPP project of the Uttar Pradesh government which is being made by Yamuna International Airport Private Limited, a fully-owned subsidiary of Swiss firm Zurich Airport International AG. The first phase of the airport is scheduled to open for commercial operations by this year end.
Separately, the senior IAS officer said the YEIDA recently acquired 750 acre land in Aligarh district and work is under process to acquire 17-20 acre more land in Tappal area.
"This is an ambitious budget of almost Rs 10,000 crore and we never had a budget of this scale," Singh noted.
-With inputs from PTI
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 "Yamuna Authority hikes allotment rates, know new prices for purchasing plots")
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