The Yamuna Expressway Industrial Development Authority (Yeida) has been allotting land to interested applicants via an online process as in-person meeting are not advised during the coronavirus disease (Covid-19) pandemic.
Until the end of April, Yeida had allotted 14 industrial and six institutional plots to different firms and earned ₹1,375 crore during the nationwide lockdown which began on March 25. Most businesses and commercial activities were shut down across the country due to the lockdown to prevent the spread of Covid-19.
The Yeida allotted around 50 acres of land to investors from March 25 to the end of April.
“We were running an open-ended scheme that allows interested applicants to apply for and buy land to set up businesses without any restrictions of a deadline. We have examined the applications of several who applied and selected 14 industrial and six institutional applicants. All these units and institutional businesses will create 7,800 jobs in this region,” Arun Vir Singh, the chief executive officer of Yeida, said.
The Yeida began the allotment after the Uttar Pradesh government directed all top officials to carry out the process online, instead of manually. The objective was to attract investments and create jobs in the region along the 165km Yamuna Expressway that connects Greater Noida with Agra.
{{/usCountry}}The Yeida began the allotment after the Uttar Pradesh government directed all top officials to carry out the process online, instead of manually. The objective was to attract investments and create jobs in the region along the 165km Yamuna Expressway that connects Greater Noida with Agra.
{{/usCountry}}“We invited online applications for our plot schemes. The interested applicants sent us all their details, along with the required documents. We first examined their proposals and checked whether they would be able to set up their business within the stipulated time frame or not. And we also checked their financial status to ensure that they can create jobs in this region,” Singh said.
The Yeida said that they were successful in selling because people wanted to buy land along the Yamuna Expressway as the Noida International Greenfield Airport will come up at Jewar. The work on the airport is likely to start by August 2020.
“We could sell the land in this region because the airport project is coming up at Jewar. And the investors know that the airport project will boost the local economy and help set up their businesses,” Singh said.