UP fast-tracks land acquisition drive; aims to buy 96k acres within 3 yrs

The Uttar Pradesh government has planned to acquire nearly 96,000 acres of more industrial land over the next two-three years, aiming to become a preferred investment destination in South Asia.

 

The state is targeting to expand the total land bank to 82,000 acres by the end of financial year 2024-25 (FY25). So far, it has created a land bank of 54,000 acres, with almost 40 per cent allocated for industrial purposes.

 

“We have set a target of creating a land bank of 150,000 acres by 2027 to boost industrial and infrastructure development. This will necessitate fresh acquisition of 96,000 acres across UP, beyond our current industrial land bank of 54,000 acres,” a senior government official said.

 

This land bank for industry and other purposes aims to catalyse UP’s progress towards becoming a trillion-dollar economy in the next four-five years, as envisioned by Chief Minister Yogi Adityanath.

 

The targeted land bank would be created by major industrial development authorities in UP, such as the UP State Industrial Development Authority, Noida, Greater Noida, Yamuna Expressway Industrial Development Authority, and Gorakhpur Industrial Development Authority.

 

In the first six months of FY25, 21,751 acres of land have already been acquired. Additionally, about 5,811 acres have been fully developed for allocation to industrialists and investors.

 

The chief minister has directed various industrial development authorities to expedite the land acquisition and allotment process to ensure a seamless supply of land to investors.

 

According to a report submitted to the CM on the trillion-dollar economy, a total potential supply of 82,000 acres of land is achievable by the end of FY25.

 

“However, an additional 60,000 to 80,000 acres will be needed to meet the state’s ambitious goal of a trillion dollar economy,” it mentioned.

 

Since the land availability for industrial development has been a roadblock, the government is confident that the targeted land bank will benefit not only large industries but also small and medium enterprises, and create employment opportunities.

 

The state is also actively working on various schemes and policies to attract investors across sectors, including food processing, IT, manufacturing, energy, infrastructure, and services.

 

Such initiatives include a single-window clearance system, grievance redressal, and prompt transfer of subsidies to investors as outlined in the policies.