Uttar Pradesh cabinet approves Rs 2,890 crore for Noida International airport land – ET RealEstate

LUCKNOW: The state cabinet on Tuesday approved of Rs 2,890 crore for acquisition of 1185 hectare land for phases 1 and 2 of Noida International Airport in Jewar.

This includes Rs 163 crore under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.

Approval was also given to transfer 36 hectare land out of the total 1,363 hectare for the development of the first two phases, from the Yamuna Expressway Industrial Development Authority 36 hectare land transfer to civil aviation department.

The cabinet also promulgated the UP Panchayati Raj Reservation and Allotment of Seats and Offices (Twelfth Amendment) Rules, 2021. The move came a day after the Allahabad high court ruled that the base year for reservations for the upcoming panchayat elections has to be 2015, which will now require the government to completely change the new reservation system it had introduced this year.

The amendment will be applicable from the upcoming elections under which rotation of reservation will be as per the system followed in 2015.

The cabinet also allowed the UP Power Corporation Limited and power distribution companies to take long term transactional loans of up to Rs 7,000 crore. The government will provide guarantee for it. An official said that the funding was required as power companies had suffered huge losses during the Covid-19 lockdown in 2020.



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About 440 residential plots up for grabs near Jewar airport – ET RealEstate

GREATER NOIDA: Those looking to own a house close to the upcoming international airport in Jewar can now do so as the Yamuna Expressway Authority has launched a residential plot scheme.

Taking note of the demand for smaller plots, the Authority has floated a total of 440 residential plots measuring about 300 sqm. Earlier this week, the Authority launched some 367 industrial plots.

Officials said people will have time up to March 30 to apply for the residential plots. “Post-applications, the documents will be scrutinised. Allotment will be done through a draw of lots on May 5,” said YEIDA CEO Arun Vir Singh.

Sharing more details, the Authority officials said that the maximum number of plots (117) launched in the scheme admeasure 120 sqm. While plots measuring under 200 sqm will be available at the rate of Rs 16,870 for a sqm, the bigger ones will be offered for Rs 16,550 per sqm. The plots will be situated in sectors 17, 18, 20 and 22D along the Yamuna Expressway.

The industrial plot scheme will draw to a close on March 20 and allotment will be done through a draw of lots on April 15.

Industrial plots are being offered in Sector 33 for toy manufacturers, handicraft, handloom and furniture companies in Sector 29 and general industries or startups in sectors 32 and 33. Industrial plots will be allocated at the rate of Rs 6,670 a sqm.

While 24 plots are being offered in Sector 33 for toy manufacturers, YEIDA has earmarked 47 plots in Sector 29. Maximum number of industrial plots (296) will be available in sectors 32 and 33 to open general non-polluting industries.

YEIDA will develop the area and apart from constructing external and internal roads will also provide electricity connection, water connection, sewerage line and drainage system in the locality.



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Yamuna authority to acquire 3,418 hectare land for expansion of Jewar airport – ET RealEstate

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NEW DELHI: The Uttar Pradesh government has given a go ahead to acquire nearly 3500 hectare land for the expansion of Jewar airport.

The Yamuna Expressway Industrial Development Authority (YEIDA) has submitted the feasibility study which says upto five runways can be build in the Jewar airport, for which additional land will be required.

“1334 hectare land has been acquired for the first phase, which will have two runways. In the second phase, 1365 hectare, 1318 hectare and 735 hectare will be acquired in phases, taking the total land for Jewar airport to be 4752 hectare,” said a UP government official.

The project monitoring and implementation committee has suggested five runways.

The Uttar Pradesh government had earmarked about 5,000 hectares of land in Jewar on Yamuna Expressway for an aviation and transport hub, linking the Indian capital to a greenfield airport that is expected to serve the eastern and southeastern suburbs of the sprawling metropolis.

About 1,300 hectares of land will be handed over to Zurich Airports for the development of the airport in the first phase.

Zurich Airports has won the contract to build and operate Jewar airport, for a period of 40 years, including construction period of four years in the first phase.

The facility will act as the second airport for Delhi, and is expected to start operations around 2023-24, by when the existing airport is set to exhaust its capacity of more than 100 million.



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HDFC Bank provides Rs 500 crore funding to Jewar Airport project – ET RealEstate

HDFC Bank has entered into an agreement to provide Rs 500 crore funding to the upcoming Jewar airport in Greater Noida. The funds will be utilized for infrastructure development and land acquisition for the proposed airport that will be Asia’s largest. The funding will be provided at interest cost of Marginal cost of funds based lending rate (MCLR) plus 1%.

With this the Yamuna Expressway Authority that is developing the 5,000-acre airport in Gautam Budh Nagar district of western Uttar Pradesh has secured financial assistance worth over Rs 4,500 crore including a funding from Housing & Urban Development Corporation (HUDCO).

The tenure of HDFC’s loan is five years, and the funding amount can be increased later.

The project is estimated to cost over Rs 29,500 crore and the authority is looking to raise additional funds through issuance of infrastructure bonds soon.

“The HDFC funding is not linked to our future cash flows and that allows us more flexibility in terms of further fund raising. We are planning to raise between Rs 20,000 crore and Rs 25,000 crore through infrastructure bonds,” Arun Vir Singh, CEO, Yamuna Expressway Authority, told ET while confirming the story. “We have achieved the financial closure for the project’s first phase.”

The airport is billed to be the biggest in India with six runways upon completion. The first phase of the project will be spread over an area of 1,334 hectare and is expected to cost over Rs 4,500 crore. The construction work at the project is expected to start in 2021, while commencement of operations is scheduled for beginning of 2024.

ET’s email query to HDFC Bank remained unanswered until the time of going to press.

In July, the authority and HUDCO entered into a pact for financial assistance worth over Rs 4,000 crore for various projects adjoining the upcoming International Airport. These would include land acquisition and associated infrastructure development on both sides of the Yamuna expressway over the next three years. HUDCO has extended the financial support at the MCLR rate.

The Noida International Airport Ltd (NIAL), part of Yamuna Expressway Authority, has entered into an agreement with Swiss developer Zurich Airport International for the development of this airport. A concession agreement has also been inked between Uttar Pradesh government’s agency and the Yamuna International Airport Private Ltd, a special purpose vehicle floated by the Zurich Airport for the project.

The authority is planning to develop an Aerotropolis around the project including several industry-specific hubs such as pharmaceuticals, small and medium enterprises (SMEs), handcraft and a film city.



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