YEIDA plans to launch a mixed-land scheme for industries & houses on the same plot
By Bricksnwall | 2022-11-07
The Yamuna Expressway Industrial Development Authority awarded the Yamuna Expressway Construction Contract to Jaypee Infratech Limited (YEIDA). It has surpassed the second-longest Expressway in India since February 2017. A mixed-land project has been developed by the Yamuna Expressway Industrial Development Authority (YEIDA), in which industries will coexist alongside homes and other buildings within the same property. According to information provided by the government, 1045 hectares of land are designated for mixed use in the master plan 2041. Domestic, commercial, recreational, and educational development are all allowed on the mixed-use property.
75% of the land assigned to beneficiaries can be used for industrial development; the remaining 25% is available for residential, commercial, or institutional use. According to officials, industry owners wanted a plan where workers could live nearby and have access to certain other basic amenities so they would not have to travel much for work. Mr. Arun Veer Singh, CEO of the Yamuna Authority, believes that different applications for a particular area may have a positive impact by reducing the demand for travel and the quantity of energy required to supply the numerous advantages.
In Sector 24, they occupy a majority of 110 acres. There will be a total of 7 plots, each measuring 10 acres. Construction of roads, drainage, and greenery will be done in the left space. The remaining area, according to Singh, will be utilized for 12% residential, 8% commercial, and 5% institutional development. The plots will be distributed via electronic auction. Commercial land along the Yamuna Expressway will be available for purchase. This is a great treat for individuals wishing to purchase an industrial property at a reasonable price.
Due to the overwhelming interest, YEIDA earlier increased the time for filing their residential plot project entries. More than 50,000 individuals have already filled up applications for 477 plots. Sectors 16, 17A, 18, 20, and 22D have lots available in sizes ranging from 60 square meters to 2,000 square meters.
Even though there was a hurry, authorities reported that many candidates had technical difficulties submitting their registrations online. The administration has made the decision to perform the manual lottery pick for plot allocation on December 16 rather than November 18.