28/06/2024
In Yamuna authority’s budget, land acquisition gets a major chunk
Announcing a Rs 9,957-crore budget for this fiscal, the Yamuna Expressway Industrial Development Authority (YEIDA) allocated a significant chunk — almost 60% of funds or Rs 6,063 crore — to land acquisition, said officials. Other important projects for which funds have been earmarked include the upcoming Noida International Airport at Jewar (Rs 702 crore) and the Rapid Rail for better multi-modal connectivity (Rs 300 crore). Development and construction has been allocated Rs 1,948 crore, added officials. The budget for the financial year 2024-25 was approved at the Authority’s 80th board meeting Tuesday. YEIDA said it has planned to acquire around 3,700 hectares of land in two years to create a land bank for different investors, FDI, and other schemes. “To increase the land bank, the authority had prepared a plan of Rs 11,750 crore to acquire land in sectors 10, 7, 5, 6, 8, 9, 4A, 28, 29, 32 etc. Of this, the authority requested the government to give 50% of the amount — Rs 5,875 — as an interest-free loan. The rest was to be borne by YEIDA. In this regard, the government provided an interest-free loan of Rs 3,279 crore. During 2023-24, around 290 hectares of land was acquired,” said an authority official.
