Wednesday, February 21, 2024
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HomeNewsReal EstateYEIDA allots land to build residential complex for CISF personnel

YEIDA allots land to build residential complex for CISF personnel

The Yamuna Expressway Industrial Development Authority (YEIDA) has approved the allotment of a plot to house the Central Industrial Security Force (CISF) personnel in Noida. A total of more than 55,000 sq meters of land has been allotted to the airport’s concessionaire Yamuna International Airport Private Limited (YIAPL), whose concession period is 40 years, during the YEIDA’s 76th board meeting.

The YIAPL is a fully-owned subsidiary of Zurich International Airport AG, which has won the contract to develop the greenfield airport at Jewar. The CISF personnel are responsible to provide security at all the airports in the country, and thereby, the force will also look after the safety and security of the upcoming Noida International Airport.

As per the airport’s concession agreement, the consignee has to provide housing facilities to the security forces deployed for the security of the upcoming airport. In this context, plot number GH-03A, Sector-22A of area 55,219.178 square meters, has been kept aside from e-auction for the residence of the security personnel. In the board meeting, it has been decided to allot the plot to YIAPL under the group housing category at a cost of 15 percent in addition to the prevailing rate at the time of land allotment.

YEIDA has made it clear that land allotted for the residential complex of CISF will not be sold, sub-leased, or for any other purpose. The YEIDA will also introduce an ‘aviation chapter’ in the building bylaws to fix the standards for the building and activities to be constructed under the airport complex.

The YEIDA has also decided to purchase land around the upcoming airport. The first phase of the Noida International Airport is expected to be completed by September 2024. The YEIDA is a 12.50 percent stakeholder while Greater Noida Authority, Noida Authority, and the UP government hold 12.50 percent and 37.50 percent stake respectively in the Noida International Airport.

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