In a recent development, the Gautam Budh Nagar has finally acquired the first portion of farmland for the proposed Jewar International Airport. The acquired land parcels have been transferred to the project’s implementing agency.
The Yamuna Expressway Industrial Development Authority (YEIDA) recently revealed that since the announcement of Jewar Airport, investment has received a major boost in and around the Yamuna Expressway areas.
Country’s first woman Finance Minister has presented her maiden budget on July 5 and the real estate sector which has lots of expectations with her has got many announcements to cheer. Starting from rental housing to affordable housing and tax benefits to better infrastructure, here are some of the key highlights that are going to add feathers to the real estate market of India:
The Delhi Development Authority (DDA) has launched the first phase of the ambitious Housing scheme for the year 2019 recently. The Authority has decided to sell a total of 1250 flats in the first phase and on a first-come-first-serve basis. These flats are situated in Ramnagar Colony, Narela and Seersapur. According to the latest news report, 700 flats already booked by prospective homebuyers within 24 hours of the launch.
Anita Meshram, the divisional commissioner informed that the district administration will commence land acquisition for Jewar Airport by January-end. The authority will acquire acquiring 1,334 hectares land for the proposed airport.
She further said that the administration already sent its report on the land to the Yogi Adityanath-led Uttar Pradesh State Government. This report is sent under Section 19 of the Land Acquisition Act and the same will come into action once the notification for land acquisition is issued by the Government.
The Uttar Pradesh State Government gave nod for the Jewar airport bid document prepared by Price water house Coopers [PwC]. The proposal will now be sent to Union civil aviation ministry for clearance officials said. The ministry is expected to send clearances for the same by the December-end. After which, the project will have an open international bidding for the tendering process.
NAIL, i.e. the Noida International Airport Company Limited will be responsible for the bidding process. This is a company formed by the Yogi Aditynath-led Uttar Pradesh State Government in August 2018 to get the Jewar International Airport project rolling. The company NIAL recently formed a core team of 10-members that include officials from YEIDA for the handling of airport-related work.
In a recently held cabinet meeting, it was decided that construction of the Greenfield Jewar International Airport, will be done on a public-private-partnership (PPP) mode. A government order has also been issued on the same by the Civil Aviation Department after they got nod from the state cabinet.
According to officials present in the cabinet meeting, the acquired land for the project will be given on a 90-year lease to the Noida International Airport Limited (NAIL). The authority has also been given the power of selecting the appropriate developer for the project.
To accelerate work of the proposed Greenfield International Airport at Jewar, the Uttar Pradesh Government on Monday has given their nod to various proposals. The decision has been made in the cabinet meeting which was spearheaded by chief minister Yogi Adityanath.
Giving more details about the meeting, UP energy minister Shrikant Sharma said, “The cabinet had approved allocation of state’s share of Rs 1,500 crore for acquisition of land for Jewar airport.”
After releasing the first installment for the land acquisition, the UP Govt has now sanctioned Rs 1260 crore more to expedite the work of the proposed International Airport at Jewar. An official document on the same has been released by the CM office, Lucknow.
The official document released further stated that the amount which the govt has sanctioned for acquisition in the first phase of airport construction is to be spent on land acquisition and payment to the farmers concerned.
UP Chief Minister Yogi Adityanath has directed Noida International Airport Limited and the Gautam Budh Nagar administration officials to speed up the work on the Jewar Airport project. The decision was taken in the meeting held in Lucknow between the CM, Chief Secretary Anup Chandra Pandey, and other related officials.
In the meeting, CM Yogi discussed the progress of the project and matters related to the land acquisition for the project. According to officials, if all goes as per schedule, the State Govt is expecting to launch the Greenfield International airport project by the end of December.