Zurich starts work on selecting agency to construct Noida airport – ET RealEstate

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GREATER NOIDA: The Noida International Airport project is fast gaining momentum. The subsidiary of Zurich AG, appointed to develop the greenfield airport, on Monday floated tenders to commence construction work.

The company, Yamuna International Airport Private Limited (YIAPL), has begun the process of selecting the contractors for engineering and construction of the terminal building.

Last week ,the Yamuna Expressway Industrial Development Authority (YEIDA) initiated the process of empanelling agencies which will manage, organise and execute big-ticket events on its behalf. While the date of the foundation stone laying ceremony is yet to be finalised, sources revealed that an agreement has been reached between the two sides to get things going on the ground. “We expect that the project-affected people will start shifting to Jewar Bangar by mid-June. Post that, construction work can start,” an Authority official told TOI.

Meanwhile, YIAPL said that work will be awarded in two parts. While part 1 will cover construction, engineering and procurement of the terminal building, part 2 will focus on airside and landside development. The company has also set up its office in Okhla phase 3 of Delhi to coordinate with the regulatory bodies and other agencies for further work.

Senior officials of Noida International Airport Limited, the special purpose vehicle set up by Uttar Pradesh government to execute the project, said that an agreement to grant permission to start work was reached with the concessionaire last month soon after YIAPL signed the state support agreement with UP.

“The building plan and design has been approved by the regulatory bodies. The state government wants to commence work at the site at the earliest. Since selection of agency will take time, the company was advised to initiate the process,” said an official.

Meanwhile, the company announced that contracts valued more than Rs 25 crore would be awarded through a competitive bidding process while work orders valued under Rs 25 crore could be offered directly to empanelled vendors. The GB Nagar district administration has also started work on getting the social impact assessment study ready for the next phase of the airport project that will require 1,363 hectares of land.

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Yamuna authority receives 20,000 applications for 550 residential plots – ET RealEstate

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The Yamuna Expressway Industrial Development Authority (Yeida) has received 20,000 applications for 550 residential plots and 4,200 applications for nearly 400 industrial plots of different categories as it pushes for development around the upcoming Noida International Airport.

The authority will allot the plots through a lucky draw and is expected to generate revenue of about Rs 1,000 crore from the sale.

Prices of the plots range from Rs 11 lakh to Rs 6.6 crore, and the highest number of applications (10,000) have been received in the 120 square metres category, in which only 117 plots are being offered.

“The number of forms suggests there is a huge demand for both residential and industrial development near the airport. The residential development is in sync with the commercial and industrial development,” said Arun Vir Singh, CEO, Yeida.

The authority has not received much response for the larger residential plots. Only six applications have been received for 11 plots of 4,000 sq metres on offer and two for 2,000 sq metres while 16 plots were on offer in this category.

“In the industrial segment, 3,851 applications have been received under the MSME (micro, small and medium enterprises) category while the rest are for the toy and furniture park. We have reserved some plots for the startup category to promote new businesses,” said Singh.

Residential plots are priced at Rs 16,500 per sq metre while the industrial plots are priced at Rs 6,500 sq metre.

Land prices around Yamuna Expressway have surged since the signing of agreement for development of the Jewar airport and approval of a film city.

Yeida has set a target of revenue of Rs 3,000 crore for 2021-22 amid a surge in demand for industrial, commercial and residential plots near the international airport.

Revenue jumped to Rs 2,200 crore in 2020-21 from Rs 1,200 crore in the previous year.

The Uttar Pradesh government is creating land banks along the Yamuna Expressway in the National Capital Region and is in talks to create a toy manufacturing hub and an MSME and apparel park near the upcoming airport.

The state government recently approved a 700-acre electronic city near the site of the airport, which is expected to give a further boost to real estate demand in Noida.

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Launched in 2009, YEIDA starts registry of residential plots now – ET RealEstate

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GREATER NOIDA: After a gap of 12 years, the Yamuna Expressway Industrial Development Authority (YEIDA) has started the process of executing registry of residential plots in sectors 18 and 20.

Launched in 2009, the pockets and blocks in the two sectors were developed over the past three years. Around 11,000 of 21,000 plots are being readied here and the registry process of more than 7,000 plots has already been initiated. The development work is in the final stages in blocks I and J of Sector 18 as well as blocks A, B, C and D in Sector 20. Work is going on in full swing in blocks R, S, T and U in Sector 20.

But a number of people who have been handed plots after registry are still struggling because of a petition in the Supreme Court. A doctor from Faridabad, who has been awarded a 1,000 sqmt plot in Block C of Sector 20, said, “The Authority has taken from us an enhanced compensation for paying the farmers. I have spent about Rs 74 lakh since 2009 as land premium and interest. However, a petition of the Yamuna Authority against a Allahabad High Court order is pending before the Supreme Court. Till that is decided, there is no way we will be able to start construction work in our block.”

Situated about 15km away from Pari Chowk ahead of Jaypee Sports City, YEIDA has facilitated about 5,500 registries in the two sectors. By March 31, the authority is targeting to execute 2,500 more.

Meanwhile, those representing the association of buyers in the Yamuna region have forwarded a six-point demand to the authority before more registries are carried out.

“The problem is that after the registry is done, an allottee is given three years to complete construction work. After that, penalties are levied for the delay. Farmer issues in C, D, R, S, T and U pockets of Sector 20 are yet to be settled and no construction work can take place till the issues are resolved,” said Safal Suri, a member of the association.

Arun Vir Singh, chief executive officer of YEIDA, said the outcome of the petition was awaited. “But we will soon hold camps to sort out the problems in certain blocks and facilitate physical possession to allottees. We want people to settle down in the Yamuna region at the earliest,” he added.

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