Greater Noida News: In order to encourage the establishment of manufacturing units that will create jobs and new business opportunities in the area, the Yamuna Expressway Industrial Development Authority (Yeida) has approved a plan to develop a 10,500 hectare urban center—roughly half the size of Noida city—along the 165 km Yamuna Expressway to Agra, according to officials present at the authority’s 79th board meeting on Monday.
Master Plan 2041 Approval
Officials stated that although the board approved Yeida’s Master Plan 2041, which outlines plans for the next eighteen years for developing areas under its purview, it did not decide whether to raise the Yamuna Expressway’s toll.
Regarding the planned urban centre, officials stated that because investors’ demand for industrial land has increased in light of the impending construction of the Noida International airport in Jewar, the board permitted Yeida to prepare a detailed project report (DPR) of this massive industrial project and begin procuring the land. According to officials, the greenfield airport’s first phase is expected to open for business by the end of 2024.
SEZ for Urban Core
According to authority authorities, Yeida will create four special economic zones (SEZ) specifically for the urban core, making it the largest industrial zone in the area once it is established.
While units producing electronic products would be housed in a second SEZ, one SEZ will be dedicated to the manufacturing of electric cars and their connected products. According to officials, the fourth Special Economic Zone (SEZ) will be devoted to data centres, while the third SEZ will house companies producing semiconductors and associated goods.
Unique Industrial Project
“The board on Monday approved the Master Plan 2041, which also contains the blueprint of this mega urban centre. We will soon prepare a detailed project report of this project to take it to the next stage. It will have four special economic zones and each zone will be home to one particular type of industry. This is a unique project that will boost the economic growth of the region,” said Arun Vir Singh, chief executive officer, Yeida.
Diversification Beyond Urban Centre
According to officials, Yeida would also build a logistics park in Aligarh, a heritage city in Mathura, in addition to other projects in the urban regions of Gautam Budh Nagar and Bulandshahr, as a result of the Master Plan 2041 clearance.
Yeida has maintained a goal to provide homes and other facilities for 3.9 million people in its Master Plan 2041. Additionally, the master plan calls for housing for workers in industrial buildings beside the motorway.
Strategic Zoning in Urban Centre
In the urban centre, which will be developed on land from 1,194 villages along the motorway, the Yamuna authority has set aside 35% of the area for green use, 17% for mixed land development, 23% for industrial use, 5% for commercial use, 13% for traffic and utility services, 4% for an aviation hub, and the remaining area for other uses.
In other choices, the board decided that plots larger than 10 acres will now only be distributed through interviews rather than an online auction for institutional projects like hospitals, colleges, technical institutes, medical colleges, and management colleges.
Affordable Land for Educational Institutions
Officials regret that this choice was made in order to give educational institutions land at a reduced cost. The fact that rates increase with each bid in an e-auction tends to deter institutions. The board also voted to extend the deadline for executing lease agreements for almost 42,000 plot allottees in residential and commercial projects. As of June 30, 2024, there would be no penalties for these tenants. According to officials, these 2008–09 allottees are responsible for signing the lease deed.
The Yeida board also resolved to accept the real estate policy’s proposals, which were announced by the government on December 21, 2023 and which allow homebuyers in abandoned housing developments to execute registers. According to officials, at least 14,000 homebuyers in Yeida districts will profit from this.
Registry Permissions Pending Approval
“We have calculated the dues and also held discussions with nine realtors in our area. All that remains is a final nod and we will issue registry permission. But waivers on dues of developers will be granted only in the next board meeting to be held in February,” said CEO Singh.
According to officials, the Yeida has also approved in principle the plan to give 125 acres to Tarq Semiconductors Private Limited, a Hiranandani Group business that intends to invest over ₹17,000 crore in the project.
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