Realty major DLF failed to buy 1,000 hectares earmarked by Yamuna Expressway Industrial Development Authority along the Yamuna Expressway. The land was supposed to have institutional development as core activity in the special development zone (SDZ) located seven kilometers away from Greater Noida.
We had earmarked the 1,000 hectare land a year ago but DLF has not shown interest in buying the land, Lalit Srivastava, chairman Yamuna Expressway Industrial Development Authority told Financial Chronicle. Srivastava added that the land would have come at the cost of Rs 800 crore while the entire project cost was estimated at Rs 8,000 to 10,000 crore. DLF has only paid the earnest amount of Rs 1 crore along with the application, he said.
When contacted the spokesperson for DLF declined to comment on the issue. The Authority had planned to develop SDZs along the Yamuna Expressway on 1000 hectares land or more. Each SDZ was to have core activity in 35 per cent of land in industrial, IT, institutional, biotechnology, sports, recreation and service activity. Residential and commercial development is also permitted in part of the land.
More : mydigitalfc.com
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