In a significant move towards regional development, the government has greenlit the establishment of six new sectors around Noida Airport. The Yamuna Authority (YEIDA) has been entrusted with the acquisition of 1500 acres of land, marking a crucial step in the expansion and enhancement of the region.
Key Developments and Funding:
Interest-Free Loan for YEIDA: YEIDA has received an interest-free loan of INR 1500 crore from the government for land acquisition, supplementing the previous fund allocation of INR 1800 crore.
Matching Funds for Development: The authority is mandated to match the government’s contribution, with approximately INR 3000 crore earmarked for acquiring 1500 hectares of land. YEIDA envisions creating a robust land bank spanning 5000 hectares in the coming year.
Planned Infrastructure around Noida Airport:
Strategic Land Acquisition: YEIDA’s land acquisition will target areas near Jewar Airport, focusing on developing residential, industrial, and logistic park sectors. The acquisition will span ten villages for the creation of six sectors.
Sector Breakdown: The Master Plan 2041 outlines the development of Sector-5 (residential), Sector-6 (industrial), Sectors-7 and 8 (warehousing and logistics with mixed land use), and Sectors-9 and 11 (institutional category). The acquisition ranges from 13 hectares to 298 hectares in various villages.
Interest in Fintech City: Five companies have expressed interest in establishing a Fintech City near Noida Airport, adding a dynamic dimension to the region’s economic landscape.
Facilitating Flat Buyers and Builders:
Streamlined Registration Process: To expedite the flat buying process, the government has initiated a scheme where builders of five projects have deposited around INR 10 crore with YEIDA, enabling the registration of 650 flats.
Builder Commitments: Two builders have committed in writing to clearing their dues within 60 days, further facilitating the seamless development of the region.
In Shorts : The planned development around Noida Airport signifies a monumental leap in regional infrastructure growth. With the establishment of new sectors and the prospect of Fintech City, the area is poised for rapid expansion, offering both residential and commercial opportunities. This initiative not only promises to fortify the region’s economy but also sets the stage for an enhanced living and business environment in close proximity to the upcoming Jewar Airport.
