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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Extend construction deadline by two years, RWAs write to Uttar Pradesh CM – ET RealEstate

NOIDA: The Federation of Noida Residents’ Welfare Associations (FONRWA) has written to chief minister Yogi Adityanath requesting him to grant an extension of two years on the construction deadline of private plotted houses.

The deadline set by the state government was July 31, 2021, and now the federation has asked for it to be extended to July 31, 2023.

The residents’ body has cited job loss and unavailability of adequate labourers as the reasons for seeking the extension.

“Construction activities for government as well as private housing projects were stopped during the lockdown. Several workers had gone back to their hometowns/villages and that brought everything to a standstill,” Yogendra Sharma, the president, FONRWA.

He added, “We are getting requests from residents of various sectors in Noida seeking an extension for the completion of projects on plots allotted by the Noida Authority. Hence we have written to the chief minister requesting for an extension till July 31, 2020.”

The federation has said that is it not possible to construct the houses within such a short time period now.

“The pandemic has affected us in a big way, especially the lockdowns, which have brought social and economic lives to a standstill. Thus, we have requested the CM to kindly provide some to those owners of plots who wish to construct their houses by extending the deadline,” said KK Jain, secretary general, FONRWA.

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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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Verification drive for tenants kicks off in Ghaziabad – ET RealEstate

GHAZIABAD: In an attempt to trace criminals, Ghaziabad police have started a drive to verify the identity of tenants staying in the city. Beat police officers have started distributing forms that house owners will have to fill up and submit at their nearest police stations, along with documents.

According to the police, they have found that several criminals who were arrested recently stayed at rented accommodation across the city. For most of them, no verification had been done.

Kalanidhi Naithani, SSP, Ghaziabad, said that in the first phase, three lakh forms would be distributed. “We have around 550 beat police officers and one officer covers 100-200 houses daily. We will be able to distribute the forms across the district in two-three months,” he said.

A lot of people stay at rented houses across Ghaziabad, as they are affordable compared to some other NCR cities. Often, tenants move in without any police verification.

On May 23, a 30-year-old man was arrested from a highrise society in Raj Nagar Extension and he was allegedly involved in a transfer/posting racket of IAS and IPS officers in Uttar Pradesh.

He had been staying at KW Srishti housing society on rent for the 10 months.

“The tenant data will help the police curb crimes. If we talk about street crimes, over 90 people have been arrested in the past one month and half of them had been staying on rent,” the officer added.

Naithani said once they collate the data, they will match that with the police records. “If we find a house owner is trying to hide the criminal history of a tenant, the person will be booked under sections 216 (harbouring offender who has escaped from custody or whose apprehension has been ordered) and 120 B (punishment of criminal conspiracy) of the Indian Penal Code.”

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