YEIDA's mixed land-use scheme to accommodate industry, housing on same plot

The Yamuna Expressway Industrial Development Authority (YEIDA) has come up with a unique scheme to have industries and houses on the same premises.

This mixed land-use scheme will help people big time as those employed in the companies located in this area can reside in the same region.

"We have 110 acres in total in Sector 24. A total of 7 plots of 10 acres each will be allotted for industry. In the remaining area, there will be development like the construction of roads, drains and green areas. The allocation will be done through e-auction," The Times of India quoted Arun Vir Singh, the YEIDA CEO, as saying.

The report claims that industry will be developed in the 75 per cent land allotted to them and the remaining land will be used for residential, commercial and institutional purposes.

The officials claim that industrialists have always wanted a scheme where workers get all the facilities in the same area as they can now stay in the same area.

The YEIDA CEO further stated that 12 per cent of the remaining land will be utilised for residential purposes 8 per cent for commercial and 5 for institutional development. "This scheme will help in setting up big industries with all the facilities on the premises itself," the CEO said.

Meanwhile, the Yamuna Expressway Industrial Development Authority (YEIDA) is meeting representatives of companies who have come forward to buy plots in the medical device park, toy and apparel parks. The offer letters are expected to be given to the allottees and they will have six months to register the land.

In the meeting which is being held between March 20 and 27, the allottees will be updated about the progress in the YEIDA project around the plots.

"The Yamuna Authority has been developing necessary facilities in the area, such as roads, drains, installation of electric poles and so on. The work in many sectors is almost complete now. We plan to offer plots to our allottees during the meetings so that they start the construction work soon. Allottees have to attend the meeting on the scheduled day and time," said Arun Vir Singh.

Land Price Boosted
In the last five years, YEIDA has received investments to the tune of Rs 16,678 crore, thereby creating a huge demand for commercial and residential plots. As a result, the prices of land in the vicinity are going up.

The development of the Noida airport has already led to an increase in real estate activities in the surrounding areas.