NOIDA: A revised feasibility report and DPR for Heritage City, which will come up on 750 acres off the Yamuna Expressway, has been sent to UP govt for approval. The revised report – passed by the Yamuna Expressway Authority board on January 29 – includes new villages where land will be acquired and mentions two models for the development of the project.
After the government gives its nod, the bid evaluation committee will decide whether the project will be developed by one company or multiple promoters. The consultant company has submitted two options to the Authority. Under the first option, the entire land will be allotted to one developer to build the project in phases. In option 2, land will be allocated to multiple companies for developing various components of the project, such as hospitality, public facilities, healthcare and recreational areas.
With Mathura and Agra in close proximity, the state govt is planning a heritage corridor in the region, eyeing the massive economic and transit development centred around the Noida international airport. Heritage City will come up at the Raya Urban Centre in Mathura, with the project cost pegged at Rs 1,220 crore.
According to the revised DPR, the first phase on 440 acres will be ready by 2027 and focus on the development of the Yamuna riverfront and cultural components, such as a temple complex and a theological village.
The second phase – from 2028 to 2031 – aims to expand the hospitality sector and introduce major recreational attractions across 182 acres. In the third phase, which should be developed by 2034, there will be institutes offering courses in Vedic sciences, performing arts, yoga and ayurvedic on 125 acres.
Once the evaluation committee takes its decision, the Yamuna Expressway Authority will choose the developer. “Companies that have worked on similar projects in Vietnam, Indonesia and Korea have shown interest in this project. So, we expect these foreign firms to apply when we announce the global bids,” said Arun Vir Singh, the Authority CEO.
Officials said that to ensure encroachments didn’t hinder the govt’s flagship project, land will be acquired from five more villages, according to the revised DPR. These villages have been incorporated into the Urban Centre’s master plan.