Yogi govt targets building landbank of over 1.5 lakh acres by 2027, seeks to attract more investors to UP

By Team Asianet Newsable | First Published Oct 24, 2024, 6:15 PM IST

The Yogi government aims to establish a 1.5 lakh-acre land bank by 2027 to transform Uttar Pradesh into 'Udyam Pradesh.' Currently, 54,000 acres have been secured, with 30-40% for industrial use. The goal is to reach 82,000 acres by the end of the 2024-25 financial year.

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. This initiative aims to secure land for industrial investment and foster development throughout the state.

In a recent report on the One Trillion Dollar Economy, presented to Chief Minister Yogi Adityanath, it was revealed that by September 2024, the government had successfully established a landbank of 54,000 acres. Of this, 30-40 percent will be dedicated to industrial purposes.

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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 the state.

The Yogi government 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 have been fully developed and are ready for allotment to industrialists.

Under the leadership of Chief Minister Yogi Adityanath, significant steps are being taken to accelerate the state's industrial development. The Chief Minister has personally directed Industrial Development Authorities to expedite the process of land acquisition and allotment to ensure a seamless supply of land to the investors.

The report highlights that 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.

In response, land acquisition is progressing rapidly in key industrial areas such as Noida, Greater Noida, Yamuna Expressway, Kanpur, and Lucknow.

Land availability for industrial development has long been a challenge, but the state government believes that the landbank initiative will benefit not only large industries, but also small and medium enterprises, creating new employment opportunities across Uttar Pradesh.

The Yogi government's ongoing efforts are creating a favorable environment for investors in Uttar Pradesh. With the acceleration of land allocation and development processes, more opportunities are becoming available for those looking to invest in the state.

The government is also providing essential infrastructure and facilities, including better roads, electricity, water supply, and communication systems in industrial areas, making the state an increasingly attractive destination for investment.

The enhanced security system and improved amenities in these areas are opening the doors to industrial development, positioning Uttar Pradesh as a key player in India’s industrial growth. This positive environment is expected to play a crucial role in helping the state achieve its ambitious target of becoming a one trillion dollar economy.

The government is also actively working on various schemes and policies to attract investors to Uttar Pradesh. Chief Minister Yogi Adityanath emphasizes that a favorable environment is being created for investors, supported by better infrastructure, a single window clearance system, and other necessary facilities. These initiatives aim to draw both foreign and domestic investments to the state.

The government's efforts are already yielding positive results for the state's economy. In recent years, Uttar Pradesh has attracted significant investments across sectors such as information technology, manufacturing, food processing, and energy. These investments are not only boosting the state's economic growth, but also generating employment opportunities for millions of people.

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