YEIDA to develop Fintech & Logistics hubs -

The Yamuna Expressway Industrial Development Authority (YEIDA) has embarked on an ambitious land acquisition initiative aimed at fostering significant residential, industrial, and international development projects across the Yamuna region. This extensive plan encompasses the acquisition of land in 10 new sectors, extending into pivotal areas in Aligarh. YEIDA’s strategy includes the establishment of a fintech city, a logistics park, and dedicated zones for Japanese and Korean cities, which are expected to boost economic growth and attract foreign investment. The authority has proposed acquiring over 3,500 hectares in Gautam Buddha Nagar (GB Nagar) and an additional 1,600 hectares in Aligarh. To ensure that the acquisition process is socially responsible, a social impact assessment (SIA) will be conducted specifically for the Aligarh acquisition, with Gautam Buddha University overseeing the evaluation. This assessment aims to evaluate the potential impacts on local communities, recommend mitigation strategies, and ensure fair compensation for affected farmers. As these developments unfold, they promise to usher in a new era of growth and development in the region, enhancing infrastructure and creating job opportunities.

Key Developments Across 10 Sectors

YEIDA’s land acquisition initiative is methodically structured across ten sectors, each designated for specific developmental purposes. In Sector 5, residential plots will span an impressive 382 hectares, providing ample housing opportunities for the region’s growing population. Sector 6 is earmarked for industrial plots covering 348 hectares, enhancing the local manufacturing capabilities. Sectors 7 and 8 will feature mixed-use plots, with 283 and 328 hectares respectively, catering to diverse needs from residential to commercial spaces. Meanwhile, Sector 9 is allocated for institutional and recreational spaces, ensuring that the community’s educational and leisure requirements are met with over 328 hectares of land. Sector 10’s industrial park, which covers a substantial 312 hectares, will further strengthen industrial activities in the area. Noteworthy is Sector 11, which is designated for a fintech city across 315 hectares, positioning the region as a future hub for technology and finance. Additionally, Sector 8D will offer industrial plots over 383 hectares, and Sector 4A will accommodate a Korean city on 365 hectares, while Sector 5A is reserved for a Japanese city on 395 hectares. The comprehensive nature of these developments highlights YEIDA’s commitment to creating a balanced and multi-faceted urban landscape.

Logistics Park and Broader Impacts

In addition to the aforementioned sectors, YEIDA is also pursuing the acquisition of 2,000 hectares in Aligarh dedicated to a logistics park and various industrial projects. A significant portion of this acquisition—736 hectares in Tappal—is currently undergoing assessment. The logistics park is pivotal for enhancing supply chain efficiencies and promoting trade activities in the region. A well-planned logistics hub will streamline transportation and distribution, which is crucial for both local businesses and national trade networks. The acquisition initiative not only aims to develop physical infrastructure but also emphasizes social responsibility through the upcoming social impact assessment. This assessment will be critical in understanding the community’s needs and addressing any adverse effects on local residents and farmers. “These projects form a part of YEIDA’s master plan to spur residential and industrial development,” stated a YEIDA official. As surveys for the initiative are set to commence next week, stakeholders are optimistic about the transformative growth that these projects promise to deliver in the Yamuna region, fostering a vibrant economic landscape.

Conclusion

The ambitious land acquisition initiative by YEIDA marks a significant step toward transformative development in the Yamuna region. This project promises to create a balanced ecosystem of residential, industrial, and commercial opportunities.