Noida News: An ambitious initiative to turn 6,000 hectares of rural land into a thriving urban centre close to the Noida International Airport has been launched by the Yamuna Motorway Industrial Development Authority (Yeida). The airport is expected to open at the end of 2024, which will feed the growing need for residential, commercial, and industrial areas. This plan addresses this demand.
Massive Land Acquisition for Urban Development
Over the following two years, Yeida plans to purchase 6,065 hectares of land with ₹14,000 crore. The Land Acquisition Act of 2013 will be used, in addition to direct acquisitions from farmers, to carry out the acquisition. CEO Arun Vir Singh highlighted that the project, which is expected to cost 63,500 crore, will feature basic municipal services like parks, roads, sewage, and power.
Breakdown of Land Acquisition
The land acquisition process involves:
- Direct Purchase from Farmers: 1,609 hectares
- Land Acquisition Process: 4,076 hectares
- Reclaimed Government Land: 380 hectares
The targeted land spans 40 villages, including significant portions from Rabupura (994 hectares), Tirthali (479 hectares), Karauli Bangar (250 hectares), Muradgarhi (336 hectares), Tappal-Bajna (771 hectares), Mudrah (290 hectares), and Kallupura (218 hectares).
Development Plans and New Sectors
Yeida intends to grow existing sectors like 22E, 28, 29, 32, and 33 as well as create new ones like 5, 6, 7, 8, 9, 10, and 11. This massive urban project will serve a range of demands, including commercial, industrial, and residential ones.
Special Projects: Industrial Parks and Urban Centers
- Tappal-Bajna Urban Centre: 712 hectares
- Logistic Park in Dorpuri and Syarol: 528 hectares
Five industrial parks, one of which is designated for the production of electronics, are located in Sector 10. Furthermore, Sector 11 is suggested to Fintech City, while Sectors 5A and 4A will be home to Japanese and Korean cities, respectively. The Korean city will be spread across 365 hectares, while the Japanese metropolis will occupy 395 hectares.
Funding and Financial Strategies
Yeida has already obtained interest-free loans totaling ₹3,300 crore to finance this massive expansion. In order to finance the land purchase and development process, the authority will also make use of earnings from subsequent years, revenue from other plot plans, and extra bank loans.
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