Yamuna Expressway to Feature Korean, Japanese, American Cities
Japanese, Korean and Amercian Cities will be built on Yamuna Expressway
We regularly observe new major developments on the Yamuna Expressway. Rapid development plans are currently underway to transform Yamuna Expressway into a new economic and tourist destination in India. Noida Film City, Jewar Airport, Noida International Cricket Stadium, and Night Safari are just a few of the major developments in this region.
In addition to these developments, YEIDA is ready to set up Japanese, American, and Korean cities on the Yamuna Expressway. These cities will embody the essence of their respective countries' culture, heritage, and architecture. Let's delve into the contributions these cities will make to the Yamuna Expressway.
The Yamuna Expressway will host the construction of Korean, Japanese, and American cities.
The primary reason to build Korean, Japanese, and American cities on the Yamuna Expressway is to set up their electronics manufacturing units there. The region will not only be house manufacturing units, but also provide housing, educational institutions, and hospitals to cater to the needs of its workers.
Note: It's unclear if outsiders will be able to buy homes or work there, or if only natives will. We will inform you as soon as we receive any clarification.
Let’s understand the significance of all these cities.
Japanese City and Korean City on Yamuna Expressway
Sector 5A of the Yamuna Expressway will host the construction of a Japanese city spanning 395 hectares. Korean city will occupy 365 hectares in sector 4A of the Yamuna Expressway. The purpose of constructing the Japanese and Korean cities is to establish their electronics manufacturing units for supplying it throuhout India region.
These cities will also provide residential units for the foreign staff who are employed there. They will be self-sufficient, having their own educational institutions, hospitals, and other essential amenities for their daily life.
UP Government's FDI Policy
A meeting with investors from Korea and Japan last year preceded the decision to build these cities. Introduced last October, the state government's FDI policy has facilitated the creation of new industrial townships by providing exemptions from land costs and stamp duties. Shailendra Bhatia, an official, explained that the land will have a mix of uses: 70% for industry, 13% for commercial, 10% for residential, 5% for institutions (like hospitals and schools), and 2% for other facilities.
The development of the two cities will cost Rs 2,544 crore. The authority has requested an interest-free loan of 50% of the cost from the state government, which has already given Rs 3,300 crore in previous loans. The authority plans to fund its share using future profits, revenue from plots, and bank loans.
American City on the Yamuna Expressway.
After receiving proposals from investors from Japan and Korea to establish Japanese and Korean cities on the Yamuna Expressway, near Noida International Airport, YEIDA has also received a proposal to build an American city.
Blue Sky Vantage, a US-based consultancy firm, has proposed developing an "American City" in the YEIDA region, near the Noida international airport in Jewar.
The project will cover 1,200 acres in sectors 22D, 22E, 5, and 5A, along the Yamuna Expressway. It will include international-standard educational institutions, performing arts facilities, and cultural programs, with top U.S. universities partnering in the venture.
The company plans to invest $4 billion over six years. YEIDA has granted in-principle approval and will allocate the required land. This project follows the announcement of two other international cities in the area, the Korean City in Sector 4A and the Japanese City in Sector 5A, both located near the airport and featuring residential units for staff from Korea and Japan.
What to expect with these developments?
The emerging development plans, as well as the major developments, such as Film City and the airport, have pushed the growth of the Yamuna Expressway.
In addition to these developments, Vivo IT Park and Patanjali Food Park, along with other major companies such as Samsung, Google, Microsoft, etc., will push the appreciation rate in this region up to 5x in the upcoming years. Already the prices on Yamuna Expressway have gone up 5x in the past 10 years.
These cities will mark a significant turning point in terms of investment on the Yamuna Expressway, as the airport and other major developments will attract more FDI funding and development to this area. This is an amazing opportunity to invest in properties and land in this region, as it offers the potential for significant appreciation within a shorter period.
For investment queries and to learn more about the upcoming projects on the Yamuna Expressway, call us at 7053707070.
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