Lucknow: To transform Uttar Pradesh into an ‘Udyam Pradesh,' the Yogi government is striving to establish a land bank of over 1.5 lakh acres by 2027 to secure land for industrial investment and foster development throughout the state.
In a recent report on the One Trillion Dollar Economy (OTDE) presented to Chief Minister Yogi Adityanath, it was revealed that by September 2024, the government successfully established a land bank of 54,000 acres.Of this, 40% will be dedicated to industrial purposes, officials told Times of India, adding that major industrial development authorities such as UPSIDA, Noida, Greater Noida, YEIDA, and GIDA are leading the acquisition of this land, which will be allocated for various industrial projects across UP.
The govt is targeting the preparation of an 82,000-acre landbank by the end of the 2024-25 financial year. Following this, the plan is to build a landbank of over 1.5 lakh acres by acquiring and allocating the remaining land within the next two to three years. So far, 21,751 acres have been acquired in the current financial year, signaling positive momentum for industrial expansion. Additionally, 5,811 acres of land are fully developed and ready for allotment to industrialists. According to an official report, by the end of the 2024-25 financial year, a total potential supply of 82,000 acres of land is achievable. However, an additional 60,000 to 80,000 acres will still be needed to meet the state's ambitious goal of a One Trillion Dollar Economy.
An official spokesperson said steps had been taken to accelerate the state's industrial development by government. The CM directed Industrial Development Authorities to speed up land acquisition and allotment to ensure a seamless supply of land to investors. Land acquisition was progressing rapidly in key industrial areas such as Noida, Greater Noida, Yamuna Expressway, Kanpur, and Lucknow, the spokesperson said.