What To Expect From Yamuna Authority Budget 2024-25

What To Expect From Yamuna Authority Budget 2024-25

The Yamuna Expressway Industrial Development Authority (YEIDA) declared its fiscal year 2024-25 budget worth Rs. 10,000 crore. This budget sets provisions for the forthcoming infrastructure developments in the region, such as Noida Airport and Rapid Rail. Moreover, it allocated Rs. 700 crore for the Jewar International Airport in Noida and Rs. 300 crore for Rapid Rail connectivity. 

YEIDA CEO’s Perspective

YIEDA’s CEO, Arun Vir Singh, expressed his views on the recently launched budget. He said that the Rs. 700 crore provision aims to obtain more land for the third-phase expansion of the Jewar Airport. Moreover, a Rs. 300 crore provision is allocated to connect Jewar International Airport to Ghaziabad through the Rapid Rail.

YEIDA has devised this infrastructure development plan to connect the airport and Delhi region to Ghaziabad through the RRTS rail. However, it is worth noting that the authority holds only a 12.5% stake in the upcoming Jewar Airport. This initiative represents the authority’s dedication to bolstering infrastructure development in the Noida region. 

YEIDA Introduces Increment in Land Prices

The 165-km-long land along the Yamuna Expressway from Greater Noida to Agra is managed by the Uttar Pradesh government’s YEIDA. It has announced a significant increase of 5.41% in the costs of land under its authority.

Expansion of Jewar International Airport

The Uttar Pradesh government is also taking steps to strengthen the regional infrastructure by allocating significant provisions. In its 2024–2025 budget, it has granted Rs. 1,150 crore to streamline the airport’s land acquisition and construction processes. Almost 80% of the total budget is set to be used for land acquisition. 

The Jewar airport is developed by Yamuna International Airport Private Limited. It is a subsidiary owned by the Swiss firm Zurich Airport International AG. At the moment, the airport is undergoing the first phase of its construction. This phase will develop 230 acres of land in total, including 75 acres of commercial and 155 acres of industrial land. By the end of 2024, we expect to see it open for commercial operations. 

YEIDA is Creating a Land Bank

YEIDA plans to establish semiconductors, Data Parks, and a manufacturing cluster for electric vehicles (EVs), among other specialised industries. In this regard, YEIDA’s CEO, Arun Vir Singh, mentions the plans devised by this land-owning organisation. 

He further stated that they are creating a new land bank by acquiring land for eight new sectors. To serve this purpose, they have almost doubled their budget from Rs. 5,630 crores last year to Rs 9,992 crores this fiscal year. He highlighted the budget’s breakdown by citing Rs. 6,000 crore for land acquisition and Rs. 2,000 crore for development works.

Moreover, YEIDA has made an enormous plan valued at Rs 11,750 crore to expand its land bank by acquiring land in multiple sectors. These sectors include 4A, 5, 6, 7, 8, 9, 10, 28, 29, 32 and more. They have also secured an interest-free loan of Rs. 3,279 crore from Uttar Pradesh’s government upon a loan request of Rs. 5,875 crore. These initiatives represent the authority’s concerted efforts to accelerate industrial and infrastructure development in the region.

YEIDA’s Upcoming Infrastructure Development Projects

YEIDA has undertaken pivotal and milestone projects for infrastructure development along the Yamuna Expressway region. Listed below are a few of these forthcoming developmental projects by the authority:

A New Residential Sector

YEIDA will soon develop a new residential sector covering 1100 hectares of land around the Jewar International Airport. This sector, named Sector 5, will grow with the construction and opportunities for investment in residential properties and housing societies. Sector 5 will facilitate more than 2000 residential plots, with the remaining land converted into housing societies.

Upcoming Film City

Sector 21 on the Yamuna Expressway has been under the spotlight since the launch of the upcoming International Film City. This project is allocated over 4 million square metres of land located only 4 km from Jewar International Airport. Moreover, the land granted by the government in the first phase is 9,30,777 square metres. It includes 3,03,514 square metres of commercial land and 6,27,263 square metres for industrial purposes.

The Film City balances an industrial ecosystem covering both pre-production and post-production facilities, including studios for filming and production. This Film City welcomes top Bollywood production houses to set up their bases. This project will prove to be a premium destination for future productions of VFX, films, and other film domains. Furthermore, it would catalyse economic growth in the area by producing new employment opportunities in the region.

Medical Device Park

Sector 28 along the Yamuna Expressway will also witness the development of a medical park. This first medical park will be constructed on 350 acres to furnish all the required facilities to startups and businesses in the medical devices industry. This park will address the concerns of the Indian manufacturing industry by facilitating it with scientific facilities and cost-effective testing. Foreseeing the evolving local demand, this park will furnish research and development for these new testing facilities.

Logistics Park 

A Multimodal Logistics Park (MMLP) facility is also being developed to upgrade the investment outlook at Tappal Bajna in YEIDA. The MMLP is expected to acquire 16,00,000 square metres of land with a budget of approximately 3,500 crores. They are expected to generate 1100 job opportunities for individuals along with these developments in the region. 

Given the region’s future industrial development potential and freight profile, MMLP is expected to introduce a warehousing and storage hub. This will transform the region’s supply chain dynamics while bolstering economic growth by utilising key industrial measures. Moreover, MMLP ensures robust transportation connectivity through rail and road, including facilities for customs clearance.

Future of Yamuna Expressway

With promising new projects and the government’s enthusiasm towards development, Yamuna Expressway is projected to become one of the most lucrative regions with potential. Whether it’s commercial or residential, we can easily anticipate Yamuna Expressway to be the next goldmine of Indian real estate.

Comments are closed.