YEIDA to buy 5,000 acres land for Japanese and Korean cities
NOIDA
:
Yamuna Expressway Authority
has started buying land for several major projects, including Korean and Japanese industrial cities, a
fintech hub
, and new residential and institutional areas.
It plans to buy another 5,000 acres from nearly 2,000 farmers in Sectors 4A, 5, 5A, and 11. The acquisition is part of its plan to develop the region around
Noida International Airport
into a global investment hub.
Between 2021–22 and June 2025, the Authority has already acquired about 5,232 acres. This is in addition to plots acquired under Land Acquisition Act for Noida International Airport in Jewar and projects like international film city, medical device park, toy park and apparel park.
Currently, two more industrial townships — a
Japanese City
to be built on 395 hectares in Sector 5A and a
Korean City
on 365 hectares in Sector 4A — are proposed in the area. While the Korean cluster, focusing on electronics manufacturing, including chips, semiconductors, AI hardware and cameras, is to come up just 10km from the airport, the Japanese City will combine a semiconductor and advanced-tech cluster with residential and commercial spaces.
CEO Arun Vir Singh said both the clusters are to be self-sustained zones where 70% of land will be allocated for core manufacturing and the rest for supporting infrastructure, like commercial, residential and institutional facilities.
A Fintech City is also set to come up on 250 acres in Sector 11. Sector 5, meanwhile, is earmarked for residential and group-housing projects, with land also reserved for civic facilities such as a children's home and an orphanage.
While talks are on with farmers over land compensation, officials said UP govt has offered two rates to land losers: First is Rs 4,300 per sqm with no other benefits, and second is Rs 3,808 per sqm along with 7% abadi plot. Farmers, officials said, prefer the second option as they are to get alternative developed residential plots.
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