YEIDA proposes new land projects with a target of Rs 60,000 crore

18 Oct 2022 CW Team

The UP government has boosted the investment objective for the Yamuna Expressway authority by eight times, from RS 70 bn last year to RS 600 bn for the Global Investors summit scheduled for next year, due to the impending completion of megaprojects.

According to officials, the Yamuna Expressway Industrial Development Authority is preparing to introduce a number of commercial and cooperative housing plans before this year's Diwali in order to accomplish this goal.

On five plots totaling 75 acres, there are plans for a group housing complex. There are also plans for four fuel stations with CNG, gasoline, diesel, and electric charging stations, as well as 15 commercial plots in Sector 22 A. These will all be offered via e-auction.

One of the major developments in the area is the construction of Noida International Airport in Jewar and the projected Electronic City close to it.

According to YEIDA CEO Arun Vir Singh, developers of residential projects will have six months to pay the full cost of the land.

Previously, developers were given plots by paying 10% of the land cost. Over the following few years, builders might pay the remaining balance in instalments.

“There will be four plots of 12 acres each in Sector 22D and one plot 25 acres near Sector 22A. According to rules, developers can utilise 1% of the land for commercial spaces,” Singh said. Sectors 18, 20, 22D, and 28 will see the construction of the four gasoline stations.

A plan for commercial plots in Sector 22A, close to the Salarpur underpass, will be introduced by YEIDA. There are 15 plots totaling 100 sq m. In Sector 24, it is also preparing a mixed-use industrial plot design that would span 110 acres.

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