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The Yamuna Expressway Industrial Development Authority (YEIDA) has unveiled ambitious plans to propel economic development in Noida, anticipating the launch of commercial operations at the Noida International Airport in October.
YEIDA officials confirmed the establishment of four integrated Special Economic Zones (SEZs) spanning 10,500 hectares near Agra. These SEZs will host electronics and electric vehicle manufacturing clusters, along with data centers, operating as self-sustained townships for employees.
During the board meeting, the YEIDA board approved the project within a 1.5 km radius on both sides of the Yamuna Expressway near Agra. A consultant has been tasked with presenting a master plan within the next two months. YEIDA CEO Arun Vir Singh highlighted the zone's environmental sensitivity, asserting that the SEZs would incorporate substantial green spaces and only allow non-polluting industries.
To enhance the tourism and hospitality sector, officials highlighted the proximity of the region to the Taj Mahal and other tourist destinations. The proposed land allocation includes 25% for industries, 20% for residential areas, 17% for recreational green spaces, 13% for transportation facilities, and 7% each for institutional and tourism areas.
The YEIDA board also approved a 1,050-hectare aviation hub near the upcoming airport. This hub will house industries manufacturing planes, engines, and spare parts, contributing to the growth of the aviation sector.
Additionally, the board allocated 125 acres in Sector 28 for a semiconductor park, accommodating the requirements of Tarq Semiconductors Private Limited under the Hiranandani Group. The park aligns with the Indian Semiconductor Mission (ISM) scheme, requiring a minimum land of 125 acres.
The board also sanctioned measures to enhance environmental conditions, including air quality monitoring systems, water sprinkler trucks, and anti-smog guns, with an estimated cost of Rs 3 crore.
To streamline land allocation, the board excluded institutional land for schools, colleges, and universities from the e-auction process. Land will now be allotted based on objective parameters and interviews for parcels of 10 acres or above.
The board also addressed the issue of dues from developers of nine projects, seeking a review by a third-party CA firm before urging builders to clear their dues. The proposed revisions will account for a two-year zero period due to the Covid-19 pandemic and a decision is slated for the next board meeting in February. This would impact over 10,000 flat buyers in these projects.
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