The Yamuna Expressway Industrial Development Authority (YEIDA) will not only allocate the land for the project but also develop the city. Arun Vir Singh, the chief executive officer of YEIDA, said the township would be planned in Sector 7, the block that is adjacent to the airport site. “Other modalities will be worked out soon. We have to prepare a detailed project report and finalise the floor area ratio that can be allowed within the sector,” he added.
The UP government has already framed policies pertaining to electronics manufacturing, information technology and start-ups. Sources said the new city project was aimed at boosting the electronics manufacturing sectoring by offering a slew of incentives.
Earlier, YEIDA had set aside 103 acres in Sector 33 for setting up Electronics City. However, the sector was then earmarked for developing Toy Park.
Apart from IT services, outsourcing and research and development, officials said the focus would be on attracting small, medium and big hardware manufacturers to the site because of its proximity to Dadri. With multiple freight corridors and a logistics hub being planned in Dadri, the region is likely to shape up as a prime export and import centre and help manufacturers operate from there.
According to officials, those interested in setting up industry in the city would be offered several incentives, such as subsidy on interest and capital payment, common infrastructure development, tax reimbursement and up to 100% exemption on stamp duty.
The manufacturers would also be offered a 25% rebate on the prevailing sector rate. While initially, the plan was to offer a maximum FAR of 3 in Sector 33, including the purchasable component of such units, YEIDA will now have to reconsider the maximum limit and bring down the permissible FAR because of the proximity of Sector 7 to the airport boundary.
The development of the international airport in Jewar has led the government to plan multiple key infrastructure projects off the Yamuna Expressway. Apart from the Electronics City, the UP government has also announced a Film City and a Raya Heritage City in the area to not only attract investments, but also boost tourism.
Among other projects in NCR that got a big boost in the state budget on Monday was the Noida International Airport, for which Rs 2,000 crore was announced. This apart, the region’s connectivity also got a major push, with Rs 1,326 crore allocated for the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) project.
For the Film City project, the UP government announced Rs 10,500 crore.