YEIDA to Launch Schemes to Auction Land in Jewar

Keeping in mind to fast-track the work in and around Jewar airport, the Yamuna Expressway Industrial Development Authority (YEIDA) is all set to launch two land schemes in its area. The land will be auctioned to develop 5-star hotels and industrial units in YEIDA area.

 YEIDA to Launch Schemes to Auction Land in Jewar

The two schemes will cover around 650 acres of land area. Giving information about the two schemes YEIDA CEO Arun Vir Singh told, “In the first scheme we will auction five plots of 10 acres of land for setting up 5-star hotels. These plots are located in sectors 21, 28 and 29. This scheme will be time-bound and plots will be allotted on a two-bid system including technical and financial bids. The reserve price fixed for these commercial plots is Rs 34,000 per square meter.”

The second scheme will include both plots for commercial as well as industrial use. The scheme will be open-ended and allotments will be done after seeing presentations and financial and technical strengths of each company. Talking about this scheme Arun Vir Singh further explains, “We have more than 660 acres of land available for this scheme. Nine mixed land use plots are located in Sector 24. There are five industrial plots in Sector 33 and 146 plots measuring 5 to 10 acres in Sector 32. We also have nearly 80 acres of land in Sector 29 and 120 acres in Sector 28.”

With proposed roads, Metro connectivity and eastern and western freight corridors near the Jewar airport, in coming years the real estate market in YEIDA area promises exponential returns for investors.

Talking about the development of international airport it has been planned that the proposed airport will be developed in four phases. A total of 330 crore has already been disbursed to Yamuna Expressway Industrial Development Authority (YEIDA) by the Noida Authority to start land acquisition process.  UP government has appointed PricewaterhouseCoopers (PwC) India as the consultant for Jewar Airport. The have been given a deadline to prepare the Techno-feasibility report (TFR) by April, bid documents by July and environmental clearance by October.

It has been targeted to start the operations from Jewar airport in another 4-5 years. The airport is billed to cater to 30-50 million passengers per year over next 10-15 years. The civil aviation ministry expects Jewar airport to give a boost to connectivity in the whole of western Uttar Pradesh, which will in turn increase tourism and economic potential of the region.