The Yamuna Expressway Industrial Development Authority (YEIDA) on September 14 took the Board’s approval to earmark a land parcel off the Yamuna Expressway in Sector 21 for developing Film City, the ambitious project of the Yogi Adityanath government.
Though the Authority had already identified 220 acres for the project, the Board’s approval was required before starting development work.
According to a media report, the bid document is expected to be ready this week and the process of selecting the bidder will start after the papers are vetted by the legal department.
The 220-acre land would be developed as part of the first phase, said the report. Among the other key decisions taken at YEIDA’s second Board meeting this year, the Authority decided to launch a one-time settlement scheme for allottees from October 1.
“But this time, the scheme is going to be different from what it used to be in the past. We are going to waive the compounded amount,” said Arun Vir Singh, CEO of YEIDA.
The Authority will now levy only simple interest instead of compound interest.The simple interest that prevailed at the time of allotment will be considered to recalculate the due amount.