January 31, 2024: The Yamuna Expressway Industrial Development Authority (Yeida) has approved a plan to develop a 10,500-hectare urban centre along the 165-km stretch from Yamuna Expressway to Agra, according to media reports. The development, about half the size of Noida city, aims to facilitate the setting up of manufacturing units to create employment and new business opportunities in the region, officials at the authority’s 79th board meeting said.
According to a Hindustan Times report, the Yamuna Authority board also approved Yeida’s Master Plan 2041, a blueprint for the next 18 years for developing areas under its jurisdiction. However, no decision was taken regarding the toll hike on the Yamuna Expressway.
Urban centre to comprise SEZs
Talking about the planned urban centre, officials said the board allowed Yeida to prepare a detailed project report (DPR) of the mega industrial project and began procuring land as the demand from investors for industrial land was increased in view of the upcoming Noida International Airport in Jewar, as cited in reports. The first phase of the Greenfield Airport is set to become operational by the end of 2024.
Further, officials said the authority will develop four dedicated special economic zones (SEZs) to make the urban centre the biggest industrial zone in the region.
One SEZ will house manufacturing units of electric vehicles and related products, while the second SEZ will be dedicated to units manufacturing electronic products. The third SEZ will include units manufacturing semiconductors and related products, while the fourth SEZ will be dedicated to data centres.
Master Plan 2041
The approval of the Master Plan 2041 will pave the way for the development of a logistics park in Aligarh, a heritage city in Mathura, besides other projects in the urban areas of Gautam Budh Nagar and Bulandshahr.
Yeida has set a target for developing housing and other facilities for the 3.9 million population. The master plan aims to provide workers with accommodation in industrial units along the expressway.
The authority has reserved land in the urban centre for green spaces, mixed land development, industrial and commercial use, traffic and utility services, aviation hub, and other purposes. The urban centre will be developed on land from 1,194 villages along the expressway.
During the meeting, the board announced that plots of 10 acre or more for institutional projects, such as colleges, hospitals, medical colleges, technical institutes and management colleges, will be allotted only on an interview basis instead of e-auction. The board has allowed an extension until June 30, 2024, for 42,000 plot allottees to execute lease deeds without incurring penalties.
The Yeida has given in-principle approval for the proposal to allot 125 acre to Tarq Semiconductors Private Limited, a Hiranandani Group company, which plans to invest around Rs 17,000 crore on the project.
Realty policy
The Yeida board decided to adopt the recommendations of the realty policy notified by the government on December 21, 2023. This will pave the way for the execution of registries by homebuyers in stalled housing projects. Around 14,000 homebuyers in Yeida areas will benefit from this, said officials as cited in the HT report.
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Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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