Yeida hikes land allotment rates by 5%

GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) on Monday decided to hike land allotment rates by 5% across all categories, including residential and commercial, for the financial year 2021-22, officials said.

The decision was taken at the Yeida’s 68th board meeting held at its office in Greater Noida. Last year, the authority had refrained from increasing the allotment rates in view of the Covid-19 pandemic.

In the meeting, the authority approved the ₹4,100 crore annual budget for the current financial year. As per the budget proposals, Yeida will spend ₹1,290 crore (about 30% of total budget) on developmental work, ₹800 crore on land acquisition, ₹540 crore on various works related to Jewar airport project, ₹300 crore on multi-modal connectivity, ₹1,000 crore on repaying debt and remaining on administrative purposes.