The Taj Expressway Industrial Development Authority (TEA) has allocated three mega projects in special development zones (SDZs) along the Taj Expressway. While two 1000-hectare projects have been bagged by DLF, the other project has gone to JPFK.
TEA had invited applications from private developers for developing mega projects in the SDZs that are to be built along both sides of the Taj Expressway. The open-ended scheme that was opened on March 1 has so far attracted around 15 companies, out of which the evaluation committee selected and recommended three projects before the TEA board, which in turn, issued them letters of allocation.
Speaking to FE, an official of the TEA said though plans are on to develop mega projects in SDZs along both sides of the Taj Expressway between Greater Noida and Jewar initially (41.445 kms from Greater Noida), at present, development work has begun only in Gautam Buddha Nagar.
?As per the proposal, work on acquiring 40,000 hectares of land has begun from 169 villages, from Jaganpur to Mewla, and we have identified 22 zones that are to come up on that area. This would include around 8,000 hectares of open space, which would consist of the green belt as well as other public utilities,? he said. While the DLF projects would pertain to IT and ITes, the JPFK project will be developed as a Formula One track.
?The location of the SDZ is very lucrative. It would be on the border of Greater Noida and the eastern peripheral way,? the official added.
TEA is now in the process of acquiring land and allotting it for development to the allottees on a 90-years lease. ?The land shall be given at the acquisition cost, including proportionate external development cost and lease rent, as may be determined by TEA from time to time,? said the official, adding that the aim of the scheme is the economic development of the area.
?When economic development comes, it would automatically result in removing disparity between the rural and the urban populace.? In fact, the SDZs are part of the extensive master plan, which foresees the development of a city all along the stretch upcoming 165-km Taj expressway?from Greater Noida to Agra.