Target 2041: YEIDA buys Rs 5,000 crore land to meet master plan demand

Noida: Yamuna Expressway Industrial Development Authority (YEIDA) has purchased around 2,700 acres in the current financial year for Rs 4,856 crore. The land has been acquired to meet rising demand in planned sectors, including those proposed under Master Plan 2041. To fund the purchases, YEIDA has taken interest-free loans under the chief minister's industrial expansion schemeSo far, 52 sectors have been planned in the Authority area, of which 46 are proposed to be taken up in a phased manner. These include sectors 4, 5, 5A, 8A, 8D, 8F and 11, among others. Land for these sectors is being purchased directly from farmers.
YEIDA had earlier secured Rs 3,000 crore under the Chief Minister Industrial Expansion Scheme, and it has taken on an additional Rs 1,500 crore before the close of the financial year to continue procurement.Additionally, the Authority has accelerated the issuance of Letters of Intent (LoIs) to industrial investors to ensure that newly acquired land is quickly translated into projects on the ground.An LoI was issued to New Holland to set-up a tractor manufacturing plant on around 100 acres in Sector 8D. YEIDA also issued an LoI to Electric Vehicles Manufacturers Welfare Trust for the development of an EV manufacturing cluster on about 100 acres. The cluster model is expected to accommodate multiple units engaged in electric vehicle and component manufacturing, officials said.The acquired land will also support other upcoming projects, including a proposed fintech hub in Sector 11 and logistics and warehousing facilities in Sector 8D. Land is also being secured for development of internal roads and other infrastructure works.The Authority is publishing lists of farmers and inviting objections as part of the acquisition process, while pushing forward with industrial allotments in a phased manner, officials said. So far, a total of 3,113 industrial plots have been allotted across these sectors. Of these, construction has been completed on 52 plots while 27 units have commenced production, an official said. Another 340 units are currently under construction, he added.According to the official, YEIDA plans to have production start in around 180 industrial units by the end of this year.YEIDA has shifted the building plan approval process online, allowing allottees to track the applications remotely. So far, 672 companies received approval of their industrial building plans and around 50% of them have already started construction.