Home » Property News » Noida » Rs. 10,000 Crore Investment Planned by Noida & YEIDA this Year

Rs. 10,000 Crore Investment Planned by Noida & YEIDA this Year

The Noida and Yamuna Expressway authorities are all gearing up to chart out their annual budgets this June, which is supposed to be allocated to the two areas in the current financial year. According to sources and statistics, nearly Rs 10,000 crore is said to be allocated to these two areas in 2017-18. As per the sources, Noida will put aside nearly Rs 6,000 crore, and YEIDA will contribute Rs. 4,000 crore to this project. Hence in the coming days, there will be huge development one can notice in both of these areas.

Noida

Patanjali brand leader Baba Ramdev will have a fresh setup of a naturopathy center. It will be spread over 400 acres. There will be an industry on 300 acres and also an international university spread on 50 acres close to the Yamuna Expressway. According to the sources of Patanjali Yogpeeth, this university will be unique which will be set in next five years. As per the sources of the Yogpeeth, there will be a mixed education of Indian as well as western schools. Hence it will be a center of attraction for the knowledge seekers who are interested in Yoga as well as other subjects.

The land that is selected by the Patanjali Yogpeeth is situated on 120-metre wide road which connects to Yamuna e-way. It is also located at a distance of four km from the Buddh International Circuit (BIC) said, officials. This famous Yogpeeth will have to pay 10% after allocation and the remaining 90% in installments, the official added. Hence over a period of 10 years, the payment will be completed by the Yogpeeth. As per the market experts, this will be a huge turning point for the real estate market in the city and surrounding areas which will have great effects on the new projects also. Considering the boom, there are many developers who have started the inquiry of land in this belt.

The board meeting of authorities of Noida and Yamuna is scheduled to be held on June 2 and 9 respectively with the purpose to finalize the budget. As a result of fund crunch faced by the authority, several proposed projects would be kept on hold including two proposed Metro projects. The metro projects the Sector 71-Greater Noida West line and Sector 142 -Botanical Metro line are among some of the poignant projects.

Officials from the NOIDA said that the steps are being taken to avoid a reiteration on the line what had happened in 2014 when around 50% of the flats were handed over back by the allottees. However, resident welfare associations are not content with the land-owning agency’s conclusion.

Read More: Noida emerging as Top Realty Destination

In the year 2014 when around 25000 flats were placed for sale in the open market, almost 13000 were returned by the people who were provided the documents also. There have been various reasons such as small sized bedrooms as well as the lack of primary infrastructure in the surrounding areas.


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