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Jagran correspondent, Greater Noida. Pressure on Yamuna Authority has increased due to increase in demand for land for industrial investment. The authority is busy preparing a land bank to ensure availability of land for industrial investment.
In the current financial year, the authority has purchased 2700 acres of land for approximately Rs 4856 crore. Apart from the pre-planned sectors, this land has also been purchased in the sectors planned in the Master Plan 2041. The authority can also allocate the maximum amount for land purchase for the upcoming financial year.
In Yamuna Authority, the highest allocation for the last two financial years is being made for the purchase of land. After Noida International Airport, the number of people investing in the authority area has increased rapidly. Due to this the demand for land has also increased. The authority has allotted plots in the sectors planned in the Master Plan 2021 and 2031, but due to land disputes with farmers, the plots could not be developed at some places.
After settling the dispute, the authority has distributed additional compensation in the sectors and besides taking possession of the land, new land has also been purchased. Due to the strong demand for land, the authority has also started purchasing land in the new sectors 8, 8A, 8D, Sector 5, 5A, 11, 7 etc. planned in the Master Plan 2041.
Benefited from Chief Minister's Industrial Expansion Scheme
To overcome the shortage of funds for purchasing land, YIDA has taken advantage of the Chief Minister Industrial Expansion Scheme. There is a provision for interest free loan under this scheme. This amount has to be returned in installments after five years.
The authority has so far taken a loan of Rs 3,000 crore from the state government under this scheme. In the current financial year also, the state government has approved a loan of Rs 1.5 thousand crore for the authority. YIDA also has to spend an equal amount of money. There is a condition of spending this amount only on purchasing land in the industrial sector.
The authority has sufficient land available for industrial allotment. The work of purchasing land in sectors is going on continuously. With a view to investment and employment generation, land allotment work is being done rapidly on big proposals.
Rakesh Kumar Singh, YIDA CEO
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