Mathura Gears Up for a Rs 1,220 Crore Heritage City Project

The Yamuna Expressway Industrial Development Authority (YEIDA) has granted approval for the revised detailed project report (DPR) of the Heritage City project, marking a significant milestone as the proposal now awaits final approval from the Uttar Pradesh government. Spanning 750 acres in the Raya Urban Center of Mathura, the Heritage City project is slated for development at an estimated cost of Rs 1,220 crore.

In a comprehensive presentation, the consulting team outlined two distinct development options to the Yamuna Authority: phased development and bundled development. The first option envisions allocating the entire land to a single developer, implementing development in well-defined phases. Conversely, the second option involves distributing the land among one or multiple developers, each responsible for specific components such as hospitality, institutional and public facilities, healthcare, and recreational areas. Pending government approval of the DPR, the Bid Evaluation Committee will deliberate on the preferred development option in adherence to public-private partnership (PPP) guidelines.

The project's blueprint designates 46 acres each for tourist facilities and the construction of both luxury and budget hotels, while 97 acres are earmarked for expansive parks and green spaces. Additionally, convention centers will occupy 42 acres, and other amenities encompass old age homes, service apartments, and tourist retail outlets, among others. As per the revised DPR, the initial phase covering 440 acres aims for completion by 2027, focusing on the development of the Yamuna riverfront and cultural elements, including a temple complex. The subsequent phase, spanning from 2028 to 2031, will introduce significant recreational attractions across 182 acres. The third and final phase, scheduled for completion by 2034, will host institutes offering courses in Vedic sciences, performing arts, yoga, and ayurvedic practices across 125 acres. Upon the committee's decision, the Yamuna Expressway Authority will select the developer for the Heritage City project.

The envisaged development model for the Heritage City project involves a concessionaire operating under a public-private partnership (PPP) framework. Under this arrangement, the authority will provide the land for the project, while the developer assumes the associated costs of development.

News by Rahul Yelligetti