The Yamuna Expressway Industrial Development Authority (Yeida) may allot 750 acres of land along the expressway to yoga guru Ramdev's Patanjali Yogpeeth for industrial and institutional use on Thursday.
Ramdev will set up a naturopathy centre on 400 acres of land, an industrial unit on 300 acres and an international university on 50 acres along the Yamuna Expressway.
According to Patanjali Yogpeeth, the university will be a one-of-its-kind educational institute that will be set up in the next five years. The promoters claim it will offer education that is a blend of western and eastern schools of thought.
"We are likely to approve a proposal pertaining to 750 acres land allotment to Patanjali Yogpeeth. The proposal will be approved in our board meeting scheduled to take place on June 9. Patanjali Yogpeeth has agreed to make an initial investment of Rs 1,000 crore into this mega project," Arun Vir Singh, Yeida's chief executive officer, said.
Ramdev's associate Acharya Balkrishna visited the site along the 165-km Yamuna Expressway that connects Greater Noida with Agra last month. He requested the authority that they want wider roads and bigger green zones in and around the land selected for their project in Sector 24 near Kadalpur village.
"We will apply for allotment very soon," SK Tijarawala, spokesperson of Patanjali Yogpeeth, said.
Yeida said it will offer the land at a rate of Rs 4,000 per square metre (psm).
"We are allotting larger plots at a rate of Rs 4,000 psm. Rates for smaller industrial plots along Yamuna e-way is expensive and different. We have already allotted 100-acre land to electronics manufacturers at Rs 4,000 psm in the same sector," Singh said.
"We will provide best of the facilities to Patanjali Yogpeeth because it will fuel development along Yamuna E-way and also creates jobs and business opportunities to local communities," he added.
The land chosen by the Patanjali Yogpeeth is located on 120-metre wide road that is connected with Yamuna e-way. It is around four kilometres away from the Buddh International Circuit (BIC) said officials.
"The land is for industrial and institutional use. We acquired and took possession of half of the land to be allotted. The authority will soon take possession of remaining land too," another Yeida official said.
Patanjali Yogpeeth will have to pay 10% after allocation and the remaining 90% in instalments, the official added.