With the Noida International Airport expected to become operational next April, foreign realty firms, including from Japan, South Korea, and the US, are making a beeline to invest in housing projects proposed in the vicinity, along the Yamuna Expressway.
On the cards are three new townships and three foreign university campuses that the Yamuna Expressway Industrial Development Authority (YEIDA) has proposed to develop in the area, Arun Vir Singh, chief executive officer (CEO) of YEIDA, told.
YEIDA is the nodal agency overseeing development around the airport and, according to Singh, has received requests for land allotment from foreign real estate developers and educational institutions in the US, UK, Japan, South Korea, Belgium, and others.
The three proposed township projects will be developed on 70 to 100 acres of land in Sector 22D, Yamuna Expressway.
In addition, YEIDA plans to develop Japanese and South Korean industrial cities, spanning 395 acres and 365 acres, respectively, in the area. Located 5 to 10 km from Noida International Airport, the twin cities will feature industries, particularly electronic manufacturing units, along with residential and commercial projects. YEIDA is currently in the process of acquiring land for these developments.
These two cities are in addition to 11 proposed industrial clusters, catering to areas such as semiconductors, data centres, IT, apparel, toys, medical devices, handicrafts, and more, spread across sectors 28, 29, 32, and 33.
The YEIDA has planned the development in such a way that industrial clusters, including the newly planned logistic park, are located within 5-10 km from the international airport, which will also have a cargo hub and terminal.
The push is also towards developing the area as an educational hub. While private educational institutions/universities have been allotted land in sector 22 E, YEIDA is in the process of allotting land to foreign universities to set up their campuses.
To ensure good connectivity between the new airport and nearby areas, the YEIDA has decided to provide bus connectivity. The UP government has sent a proposal for the development of a 72-km long rapid rail corridor to provide connectivity between Noida International Airport and IGI airport to the Centre for approval. The corridor will be developed by the National Capital Region Transport Corporation.
Apart from road connectivity, the authority is also focusing on developing hotels, including budget ones, near the airport. It plans to develop sector 29, the closest to the airport, along the expressway as an “aero village”, and will come up with a scheme to allot land for hotels and commercial development.
