Why ‘Yeida City’ is the future of real estate in NCR?
Eighteen years after its establishment, the Yamuna Expressway Industrial Development Authority (YEIDA) officially named its urban area Yeida City on Wednesday. Arunvir Singh, Chief Executive Officer of YEIDA, told The Morning Standard that he has notified the order and will now forward the information to the Uttar Pradesh government.
After Noida and Greater Noida, Gautam Buddh Nagar gets a third city; as Yamuna Expressway Industrial Development Authority (YEIDA) has now been officially named YEIDA city. This is welcome news for NCR which longs for a well planned city with better infrastructure. Also it will complement residential and commercial zones of Noida and Greater Noida.
Yeida city will be developed across 25,000- hectare area and next to proposed Jewar airport. As reported, the allotment of residential, commercial and industrial plots has begun. This Yeida City has come out as a big announcement and will have its own commercial hub in Sector 18 of the Yamuna Expressway that is spread expansively over 25 acres that will include retail shops, restaurants, malls, multilevel parking, walkways and open air theatre. The mixed development will also increase employment opportunities in this region.
Talking to the media, Arun Vir Singh, CEO of YEIDA stated “It has been decided that the urban area under YEIDA along the Yamuna Expressway will be developed like a city, which will be named Yeida City. While the office order was issued on Thursday, gazette notification will take some time,”
He further commented, “Since there’s rapid development work underway, it’s time to give the area its identity as an urban city, hence the name Yeida City”.
The major highlights of YEIDA
Total YIEDA Area :- 2,688 sq km
Yeida City area :- 24,739 hectare
Residential area :- 4,569 hectare (19%)
Industrial area :- 4,698 hectare (26%)
Green area coverage: – 5,148 hectare (22%)
This development will also benefit the neighboring cities like Noida, Greater Noida, Dadri, Mathura, Khurja, Faridabad and Agra. The distance of the proposed Jewar airport is 28.4 km from Yamuna E-way will be the central point of this new development. There are 29 villages that fall under YEIDA that will be developed as smart villages equipped with all urban civic amenities in the near future initiating with 10 villages in this financial year.
The CEO YEIDA stated, “These 10 villages will be developed at a cost of Rs 80 crore (Rs 8 crore per village) in the current financial year .These are located along the Yamuna Expressway, where YEIDA has conducted a drone survey. Starting July, work will first begin on five villages – Acheja Buzurg, Rampur Bangar, Dungarpur Reelka , Nilloni Shahpur and Chandpur”.
Some interesting projects falling in the region where buyers can invest to secure their future are mentioned below:
Ajnara Panorama offers modern lifestyle with ready to move in options and is an integrated township which includes high rise apartments as well as luxury villas. It is located right opposite to F1 racing track and upcoming Jewar airport.
Gaur Yamuna City is an expansive township developed over 250 acres by the renowned Gaursons Group. It will have India’s Tallest Statue of Lord Krishna Standing at 108 Feet Tall with a grand temple.