Schemes help YEIDA achieve 50 pc more revenue this fiscal

The Yamuna Expressway Industrial Development Authority (YEIDA) managed to break its past revenue records even in a pandemic-hit year, according to media reports.

Half-a-dozen schemes launched by the Authority this fiscal helped it achieve 50 per cent more revenue than in the corresponding period of the previous financial year, officials quoted in media reports said.

This year by November 30, YEIDA had already bagged Rs 1,000 crore. In the last financial year, the Authority was able to churn Rs 1,300 crore as revenue receipt. Sitting on a Rs 2,000-crore strong pipeline through land allotment, YEIDA is eyeing overall investments of Rs 7,000 crore by 2027-28. The Authority has sold about 567 acres of land from April 1 till December 20 this year.

The allotment of land done so far is expected to fetch Rs 1,700 crore to the Authority, said the reports. Having inked the concession agreement for the construction of Noida International Airport, on October 7, YEIDA is hoping to increase its revenue receipt in the next quarter.

YEIDA CEO Arun Vir Singh said the proposals and future projects of about 750 allottees, who had been given industrial, institutional and commercial plots, were examined recently. “Over the next one decade, the stretch along the Yamuna expressway in Gautam Budh Nagar will be completely developed. Those having long-term vision are approaching us. We will put strict conditions to get the allotted units functional at the earliest to discourage speculations. The allotment done this year will bring in investments worth close to Rs 7000 crore once the units get operational,” he said.