Yeida approves ₹4,528 crore budget for 2022-23, to buy more land from farmers
GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) conducted its 73rd board meeting on Tuesday and approved a budget of ₹4,528 crore for the 2022-23 financial year.
The board meeting also approved a number of projects in the region, where the Noida International Airport is being developed. In 2021, Yeida had approved a budget of ₹3,406 crore, said officials.
Incidentally, Yeida did not hike the land allotment rates this fiscal and officials said it is likely to be officially announced after two weeks.
Uttar Pradesh additional chief secretary Arvind Kumar, who is also the Yeida chairman, headed the board meeting that allocated funds for various developmental projects for the current financial year.
The board meeting was held at Yeida’s main administrative building, located in Greater Noida’s Sector Omega 1.
Officials said the agency will spend a lion’s share (₹1,535 crore) of the total budget on land acquisition for industrial projects. “We will buy 1,200 acres of land and have allocated ₹1,535 crore for the purpose. Apart from this, we have made budget allocations for the upcoming airport, connectivity and infrastructure works and village development projects,” said Arun Vir Singh, Yeida chief executive officer (CEO).
Officials said the authority has earmarked ₹157 crore for village development works, ₹405 crore for the airport project, ₹322 crore for multimodal connectivity, including the Metro project, ₹1,106 crore for developmental projects, ₹825 crore to repay loans and the remaining funds will be spent on smart village projects.
Yeida also increased the compensation rate for buying land directly from farmers for a host of developmental projects, officials added.
“We will buy land from farmers at ₹2,178.20 per square metres (sqm). If a farmer does not want to take residential plots, then the authority will pay an amount of ₹2,422.36 per sqm. Earlier, we used to acquire land at lesser rates,” said Singh.
Yeida also approved a decision to come up with a plot scheme in the medical device park. “Earlier, we used to allot plots after conducting interviews of company officials and verified the financial status of the applicants. Now, there will be bidding and whosoever places the highest bid will be given plots,” Singh added.
New York-inspired park, ‘Olympic City’ to surround airport
A world-class business zone with a 500 hectare park on the lines of New York’s famous Central Park, an ‘Aerotropolis’ like New Delhi’s Aerocity and an ‘Olympic City’ are among the infrastructure projects proposed under the Master Plan2041 for the region surrounding the Noida International Airport.
The region is also estimated to inhabit 41.7 lakh people by 2041, and to cater to this growth there will be a need of eight lakh homes, 1,200 hectares of commercial space and 4,000 hectares of industrial land, the proposed plan stated.
The master plan, presented to the Yeida board on Tuesday, shows the proposed planning of the region along the 165km-long Yamuna Expressway.
Yeida, which functions under the state government, manages the land and development works along the expressway. The upcoming airport remains the focus point of the master plan, the area surrounding which is being developed with commercial and residential facilities. The local authority has estimated that the population in the area under its control would reach 41 lakh by 2041, according to the plan.
Yeida, the plan says, provides various opportunities and has development potential because of its location, connectivity and other advantages. The vision is “a sustainable, efficient, wellconnected, and globally recognised city that capitalises on the economic opportunity surrounding the airport and economic corridors, while ensuring the highest living standards for its citizens”, it stated.
Some major proposals include Aerotropolis, Central Business District, Olympic city, transportation sector, according to the Master Plan-2041.
“The area of the Aerotropolis is 10,542 hectares out of which airport area is 4,752 hectares, and the remaining area is 5,790 hectares. It is a multi-modal commercial core. It will accommodate corporate suits, flex offices, business meetings, support services, retail and airline services etc,” the plan noted.
It added that the connectivity in an airport city-side is through airport expressway links while the highway corridors effectively and efficiently connect the airport to the core city and major regional business and residential concentrations.
The master plan also proposed a ‘Central Business District’. On transportation-related proposals, it noted the smallest to widest road width would be 25 to 130 metres.
We will buy 1,200 acres of land and allocate ₹1,535 cr for the purpose. We have also made budget allocations for the upcoming airport in Jewar. ARUN VIR SINGH,
CEO, YEIDA