Revenue jumped to Rs 2,200 crore in 2020-21 from Rs 1,200 crore in the previous year.
“We have earned almost Rs 976 crore from new schemes of industrial plots and Rs 1,000 crore were generated from allotment of old plots, both residential and commercial,” said YEIDA CEO Arun Vir Singh. “With more plots coming up for auction this year, we are expecting close to Rs 3,000 crorerevenue.”
The Uttar Pradesh government is coming up with land banks along the Yamuna Expressway in NCRand is in talks to create a toy manufacturing hub, an MSME and an apparel park near the upcoming airport.
“We have spent close to Rs 2,600 crore in the financial year, of which Rs 530 crore was for land acquisition, Rs 419 crore for Jewar airport, Rs 621 crore for development work and the remaining amount was spent on other works. Most of the income has come from allotment of industrial land, which included land for toy clusters,” Singh said.
The state government recently approved a 700-acre electronic city near the Jewar airport, which is expected to give a further boost to real estate demand in Noida.
YEIDA has planned a film city, logistics park, toy park and a heritage city along the Yamuna Expressway. The authority, which is the nodal agency for the development of residential and commercial land near the upcoming airport, has also signed an agreement to raise Rs 5,000 crore in the next three years.
The funds will be provided by Housing and Urban Development Corp (HUDCO) and will be used for land acquisition and development of industrial estates, electronic city and housing projects around the airport.
As per the MoU, YEIDA will require Rs 4,000-5,000 crore for development around the airport.
The state government recently cleared a proposal to acquire nearly 3,500 hectares for the expansion of the upcoming airport.
YEIDA has submitted the feasibility study, which says up to five runways can be built at the airport, for which more land would be needed.