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To speed up acquiring land for a new industrial area near the upcoming Noida International Airport, the Yamuna Expressway Industrial Development Authority (YEIDA) has given over INR 650 crore to the district administration. This money will be used to buy land next to the airport. YEIDA plans to get about 244 hectares of land for a special industrial zone called Sector 10, close to the Jewar Airport.
The land acquisition process is expected to be finalised in the next few months. Once completed, the land will be transferred to YEIDA for allocation. YEIDA has given the funds to the Gautam Budh Nagar district administration to handle the land acquisition for this project. At the same time, the administration is also acquiring land for different phases of the Noida International Airport expansion.
Additionally, YEIDA had previously allocated INR 72 crore towards this endeavour in February. The official highlighted that the expected timeline for finishing the land acquisition process, including the allotment of land for industrial park setups, stretches towards the culmination of 2024. YEIDA strategically allocates land resources with the aim of developing Sector 10, envisioning it as a vibrant industrial nucleus neighbouring the Noida International Airport, strategically situated along the Yamuna Expressway.
Within the master plan, planners have designated Sector 10 for the establishment of industrial parks, positioning it to serve as an exclusive industrial precinct in the vicinity of Jewar Airport or Noida International Airport. The sector has five distinct industrial parks?namely, an electric vehicle park, a plastic processing park, a footwear park, a handicrafts park, and a transport hub. Its proximity to the forthcoming greenfield airport and access to the Yamuna Expressway strengthen its potential for industrial ventures, rendering it a prime destination for industrial enterprises and related activities.
As per Section 15 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, 2013, the district administration will seek objections and suggestions from the public. Once all necessary procedures are followed, including fairly compensating landowners, the district administration will start acquiring land. Eventually, the acquired land will be handed over to YEIDA for allocation.
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