Of the total budget, 80 per cent would be spent on land acquisition as the YEIDA has planned manufacturing clusters for electric vehicles (EVs), semi-conductors, Data Parks, among other specialised companies, officials said.
The YEIDA, which functions under the Uttar Pradesh government and manages land along the 165-km-long Yamuna Expressway from Greater Noida to Agra, also announced a hike of 5.41 per cent in the cost of land under its area.
The budget was presented to the YEIDA’s Board during its 80th meeting chaired by its chairman Anil Sagar which approved it.
“We have prepared an ambitious plan for development of new sectors new allotments, including innovative sectors like semiconductors and Data Park. We are acquiring land for eight new sectors, creating new land bank.
For this, the budget this year is being increased from ₹5,630 crore to ₹9,992 crore, which is almost double as compared to last year. Of the total budget, over Rs 6,000 crore would be spent on land acquisition, ₹2,000 crore in development works,” YEIDA’s CEO Arun Vir Singh said.
“In essence, almost 80 per cent of the budget, which is close to ₹10,000 crore, would be spent on land acquisition and development of new sectors. These new sectors would have clusters for EVs, semi-conductors, electronic manufacturing, and dedicated parks for industries like leather, plastic, handloom and transport, etc. have been planned,” Singh said.
YEIDA, which is a 12.5 per cent stakeholder in the upcoming Noida International Airport, has planned connectivity between the airport and Delhi through Ghaziabad via the RRTS rail system. “For acquisition of land for the third phase expansion of the airport in Jewar, a provision of Rs 700 crore has been made in the budget. Also, a provision of Rs 300 crore has been made in the budget for the rapid rail, which would be connecting the airport in Jewar to Ghaziabad,” Singh told reporters.
