As the Uttar Pradesh government has released around ₹3,000 crore funds for land acquisition, the Yamuna Expressway Industrial Development Authority (Yeida) on Tuesday asked the Gautam Budh Nagar administration to acquire at least 5,000 hectares near the upcoming Noida airport in Jewar for the development of industrial and residential use.
The state government has in two parts released around ₹3,000 crore, which is half the funds required to acquire 5,000 hectares of land. The other half — another ₹3,000 crore — will be arranged by Yeida for this mega acquisition project.
In order to allot the land for industrial and residential use, Yeida needs land. The authority has decided to develop new areas — sectors 5, 6, 7, 8, 9 and 11 along the Yamuna Expressway, near the Noida international airport site, said Yeida officials.
Yeida has informed the district administration that it needs to acquire 260 hectares of land in Kanpur village for the development of sectors 6, 7 and 8. It needs to acquire 18 hectares for Sector 11 in Jonchana village, 300 hectares for new sectors 6, 7 and 8 in village Mundra. It will acquire 87 hectares for sectors 5 and 11 in village Myana, 220 hectares for Sector 5 in village Kalupura, 13 hectares for Sector 8 in village Milakareemabad, 235 hectares for Sector 8 in village Dastampur, 20 hectares of land for Sector 6 in village Ismailpur, 139 hectares for sectors 6, 7 and 8 in village Nagla Shahpur and 163 hectares for Sector 9 in Birampur village .
“We have sent a proposal asking the administration to start the process of land acquisition in view of the demand for land from investors and in followup to the directions from the state government. We need around 5,000 hectares for industrial and other developmental projects near Noida airport, where the demand has increased,” said Arun Vir Singh, chief executive officer, Yeida.
In November,2023 the Uttar Pradesh government released around ₹1,700 crore for land acquisition as an interest-free loan, which is to be returned within 25 years. On the same terms, the government on Tuesday released the second instalment of ₹1,300 crore.
“As the state has decided to fund half the acquisition cost, we will raise the other half for the acquisition. If required, the authority will arrange more funds in the time to come,” said Singh.
Yeida aims to acquire 12,000 hectares in the next two years and another 3,800 hectares will be acquired in the next few years after that. Yeida officials said they will chalk out a detailed land acquisition plan for the 3,800 hectares of land in its upcoming board meeting scheduled on January 29, 2024.
Yeida wants the administration to start the process right away as it needs around 1,200 hectares in the next one or two years. And for the remaining land, it will prepare a schedule to be shared with the administration. The Yeida needs this land for multiple projects including the logistics hub in Tappal, warehouses, medium small micro enterprises, IT firms, data centres, residential as well as commercial projects, said officials.
“We will soon issue notification for the land and start the land acquisition process as per the provisions laid out in the land acquisition Act,” said Balram Singh, additional district magistrate, Gautam Budh Nagar.