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Announcing a Rs 9,957-crore budget for this fiscal, the Yamuna Expressway Industrial Development Authority (YEIDA) allocated a significant chunk — almost 60% of funds or Rs 6,063 crore — to land acquisition, said officials. Other important projects for which funds have been earmarked include the upcoming Noida International Airport at Jewar (Rs 702 crore) and the Rapid Rail for better multi-modal connectivity (Rs 300 crore). Development and construction has been allocated Rs 1,948 crore, added officials. The budget for the financial year 2024-25 was approved at the Authority’s 80th board meeting Tuesday.
YEIDA said it has planned to acquire around 3,700 hectares of land in two years to create a land bank for different investors, FDI, and other schemes. “To increase the land bank, the authority had prepared a plan of Rs 11,750 crore to acquire land in sectors 10, 7, 5, 6, 8, 9, 4A, 28, 29, 32 etc. Of this, the authority requested the government to give 50% of the amount — Rs 5,875 — as an interest-free loan. The rest was to be borne by YEIDA. In this regard, the government provided an interest-free loan of Rs 3,279 crore. During 2023-24, around 290 hectares of land was acquired,” said an authority official.
YEIDA said it will get receipts of Rs 9,992 crore during FY 2024-25, mostly from the sale/allocation of its assets.
The authority also increased allocation/bidding rates of different assets (commercial, residential, group housing, industrial) by around 5%. Earlier, the rate of allocation for residential assets was Rs 24,600 per sqm; it has now been increased to Rs 25,900 per sqm. Similarly, in group housing, the rate has been increased to Rs 32,375 per sqm from Rs 30,750 per sqm. For industrial assets, the new rate varies from Rs 8,670 per sqm to Rs 14,240 in different areas.
The authority also reserved 100 acres in Sector 10 for the Centre’s Electronics Manufacturing Clusters (EMC 2.0) scheme.
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