YEIDA to acquire 1,500 acres in FY23 for development projects near Noida Airport

Noida, 17th September, 2022: According to authorities, the Yamuna Expressway Industrial Development Authority (Yeida) would soon begin acquiring property for the planned development near the international greenfield airport in Jewar.

The authority intends to buy approximately 20,000 hectares for future development along the 165-kilometer Yamuna Expressway and the Jewar airport.

To begin, Yeida aims to acquire at least 1,500 hectares in the current fiscal year (2022-23), with a budget of 2,000 crore set aside for the purpose. It plans to buy at least 20,000 hectares over the next three to four years to build industrial, residential, institutional, and commercial developments.

Currently, Yeida requires 1,000 acres to create an electronic metropolis in Sector 10, near the Jewar airport, since foreign investors want to set up electronic goods production units there.

“We will acquire the land from farmers, via direct purchase from land owners, wherever possible,” said Arun Vir Singh, chief executive officer of Yeida.

“We will seek the assistance of the Gautam Budh Nagar district administration to acquire the remaining land using the provisions of the Land Acquisition, Rehabilitation, and Resettlement Act, 2013,” He added. “We need more property for various projects and will procure it,” Singh concluded.

Yeida declared in August that it will build at least 58,397 hectares of urban space along the Yamuna Expressway, making it a three-times-larger urban centre than Noida.

According to officials, it presently has projects planned on 16,000 hectares along the road.

According to officials, Yeida is boosting its urban area as well as its workforce and offices as the international airport is being built along the Yamuna Expressway, and the project is likely to drive a demand for land in this region.