YEIDA’S HERITAGE CITY IN MATHURA TO BE DEVELOPED ON PPP MODEL

GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) will develop a heritage city in Raya, Mathura, on the public-private partnership (PPP) model, officials said Monday.

Yeida officials said they will acquire land for the project under the land pooling scheme, which provides farmers with a share in the development. Under the PPP model, the Yeida will ask developers to invest funds to develop the heritage city, said officials.

Yeida officials said on February 21, 2021, CBRE, a real estate services firm, had been asked to work on the detailed project report (DPR) of the project. “We will discuss this project in our board meeting and finalise the DPR,” said Arun Vir Singh, chief executive officer of the Yeida.

The Yeida was supposed to organise a board meeting by the end of March, which was deferred because officials were waiting for the new state industries minister to take over. Now, the board meeting is scheduled to take place in the first week of April. “We may acquire land under the land pooling policy. In this scheme, the farmers get a share in the project instead of money,” said a Yeida official, requesting anonymity.

According to Yeida officials, the heritage city project is aimed at promoting tourism and creating opportunities in this region.

The Yamuna river will be beautified along the lines of the Sabarmati and Gomti riverfront projects and the land will be developed for industrial, residential, commercial, and mixedland use.

We will discuss this project in our board meeting and finalise the DPR.

ARUN VIR SINGH, CEO, Yeida