Yamuna authority to create land bank for allotment to industries, companies
YEIDA has so far acquired 12,000 hectares of agricultural land along the 165km Yamuna Expressway that connects Greater Noida with Agranoida Updated: Feb 08, 2018 23:09 IST
The Yamuna Expressway Industrial Development Authority (YEIDA) on Thursday said it has decided to prepare a land bank for industrial purposes as it is likely to sign deals at the investors’ summit.
The move comes on the directions of the Uttar Pradesh government. Officials said the state government will sign 75 memoranda of understanding (MoUs) worth around ₹35,000 crore for Noida, Greater Noida and Yamuna Expressway areas with investors on February 21-22 in Lucknow.
“We need to prepare the land bank for investors in advance so that they don’t face any problem and start setting up industrial units as per their needs. Our task is clear — to distribute hiked 64% land compensation to farmers and take possession of their agricultural land,” Amarnath Upadhyay, the additional chief executive officer of YEIDA, said.
YEIDA has so far acquired 12,000 hectares of agricultural land along the 165km Yamuna Expressway that connects Greater Noida with Agra.
However, most farmers are reluctant to part with their land while some are demanding a higher compensation.
The YEIDA has already distributed ₹1,000 crore in land compensation and is expected to distribute the remaining ₹4,000 crore to farmers soon.
“We will talk to farmers and start distributing hiked land compensation to take possession of agricultural land. Many farmers do not want to give their land and have filed petitions in the Allahabad high court. We will try to persuade them to withdraw the cases and accept the hiked compensation. Our motive is clear — to help set up industries and to create employment for youth in this region,” the ACEO said.
The state government on April 24, 2001, had established YEIDA for developing areas between Greater Noida and Agra.
The objective was to set up industries to generate employment and develop urban areas in the region.
Around 2 lakh hectares from 1,187 villages of six districts — Gautam Budh Nagar, Bulandshahr, Aligarh, Hathras, Mathura and Agra — were notified under YEIDA. However, no industry has been set up by the authority in the area over the last 16 years.
The realty sector is yet to pick up despite the Yamuna Expressway having been constructed in 2012.
“We have started identifying the total number of farmers and the exact area of land to be acquired after payment of the hiked land compensation,” Upadhyay said.