Yamuna Expressway Authority Releases Fund For Land Acquisition Near Noida Airport
The Yamuna Expressway Industrial Development Authority (YEIDA) has made a fund of over Rs 650 crore available to the district administration for the purchase of land along the Yamuna Expressway near the future Noida International Airport, with the goal of accelerating the process of land acquisition for the development of a dedicated sector for industrial growth, according to officials with knowledge of the situation.
According to a senior YEIDA official, the Authority needs to purchase about 244 hectares of land in order to create Sector 10, a specialized industrial area close to Jewar Airport. The Authority will get the land for the allotment process after the acquisition is finished, which should happen in the coming months.
The official, who asked to remain anonymous, stated that the Gautam Budh Nagar district government, which has been given the responsibility of obtaining the land for the project, has received nearly Rs 650 crore from the Authority. Additionally, the administration is purchasing property for the building of several phases of the expansion of Noida International Airport.
The official went on to say that the Authority had also released Rs 72 crore for the same purpose earlier in February. “The social impact evaluation has already been finished, thus it is anticipated that the land acquisition procedure will be finished in the next months. We expect that by the end of 2024, the entire procedure, including the distribution of land for the establishment of industrial parks, will have concluded,” he stated.
