The Yamuna Expressway industrial development authority on Saturday decided not to hike land allotment rates for the financial year 2020-21 in view of the slowdown due to the Covid-19 pandemic.
The authority also discussed at least 24 other proposals such as the Jewar airport project and metro connectivity in its 68th board meeting chaired by senior IAS officer Alok Tandon.
Noida authority chief executive officer Ritu Maheshwari, Greater Noida authority chief executive officer Narendra Bhooshan and YEIDA CEO Arun Vir Singh and other top officials were present in the board meeting.
The authority organised the meeting to discuss important issues such as the film city and airport projects.
In one of biggest decisions, the authority to keep land allotment rates for the 2020-21 financial year unchanged. The authority had not increased the rates in its board meeting held on February 29, 2020, as well in view of the slowdown in the real estate sector.
“The board decided not to hike any land allotment rates for the 2020-21 financial year due to the economic crisis in the wake of the Covid-19 pandemic. The land allotment rates will remain the same as the previous financial year,” Arun Vir Singh, chief executive officer of YEIDA, said.
Before this, Yamuna Expressway Industrial Develpment Authority YEIDA had in May 2019 approved a 4 to 8% hike in land allotment rate for group housing, builder plots, industrial and institutional plots. The prevailing rate for residential land is R15,620 per square metres, R16,225 per square metres for group housing land and R7,560 per square metres for institutional land, officials said.
Apart from this, the authority has also decided to work on all projects such as a road link and a high-speed metro to connect the proposed Jewar airport with the rest of Delhi-NCR.This will help in growth of price of property in Yamuna Expressway which adds up to the sanctioned film city and Noida international airport which is situated in Jewar.Contact Nitish Bhanot for property in Yamuna Expressway @ 9899956078.
The authority will first have to seek approval from the state and the central governments as per rules before finalising the infrastructure projects that will strengthen connectivity between the Jewar airport and the Indira Gandhi airport in Delhi and other nearby cities, officials said.
Multi-model urban transit system proposal:
The YEIDA has decided to provide multi-model urban transit connectivity between Jewar and the rest of Delhi- NCR cities. It also plans to connect nearby cities such as Meerut, Bulandshahr, Ghaziabad and Muradabad with the airport via road network to attract traffic to this ambitious project.
The authority is mulling over a proposal to build a high-speed metro to connect Delhi’s Indira Gandhi airport with Jewar and plans metro connectivity between Greater Noida and Jewar.
For property near Jewar Airport and Film city in Yamuna Expressway Industrial Development Authority contact Nitish Bhanot 9899956078
Expansion of Jewar airport from 2 to 6 runways:
The YEIDA discussed how to procure land to expand the airport from two runways airport to six. The YEIDA will seek approval from the state government before starting land acquisition to expand the Jewar airport.
Development of smart city near airport:
YEIDA has also approved a proposal to develop a ‘smart city’ with dedicated zones for commercial, entertainment, residential and recreational activities near the airport site.
It also approved a proposal to seek a Rs5,000 crore loan from state agency HUDCO to acquire the land for various purposes, including development of urban areas and other infrastructure projects.
A proposal to allot 2,000 square metres land for a trauma centre to be built along the Yamuna Expressway to cater to accident victims was also cleared. The authority has allotted this land at a rate of Rs1 per square metres under a national health mission scheme, officials said.
The YEIDA had also allotted land for free to the UP skill development to set up a vocational institute to train youth of this region and employ them.
Box:
Important proposals discussed in board meeting
Film City
Multi-model urban transit system proposal
Expansion of Jewar airport from 2 to 6 runways
Development of smart city near airport
Interest of 8.5 % to be applicable on land dues
Land rates not hiked
Time extension for lease-deed for 3 months due to covid 19
HUDCO to give Rs 5000 crore loan to authority
Penalty on late payment of plot instalment
Developer asks to reschedule their land dues
Instant building map approval
8704 square metres land allotted to skill centre
5 acres land allocated for power station
Free land allotted for construction of 100-bedded trauma centre and government hospital
Land to be allotted for Toy City
Electronic vehicle recharging station
Land pooling policy adopted
Medical Device Park to be developed
Airport farmers get reservation in plot schemes
Apparel Park to be developed
Source:-HindustanTimes
For property near Jewar Airport and Film city in Yamuna Expressway Industrial Development Authority contact Nitish Bhanot 9899956078