Noida News ready to select May’s finest fintech hub plan

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TLDR: Five global real estate and infrastructure consulting companies have offered to prepare a detailed project report and help Yamuna Expressway Industrial Development Authority (YEIDA) in finalising a developer for Fintech City, which will come up on 350 acres near the Noida airport in Jewar. The first phase will come up on 100 acres. The selected consultant will have three months to prepare the feasibility study and DPR. The entire process of signing a concession agreement with the developer that will eventually build the Fintech hub has to be completed in six months, officials said. Facilities like auditoriums and exhibition halls will be built for international-level events. Fintech City will enjoy benefits under the state government’s FDI policy. Singh said YEIDA was considering four potential models for the Fintech hub. The third option calls for adopting a PPP model while YEIDA might also opt for a hybrid model in which the hub is developed through a consortium or special purpose vehicle. Land for the project will be in institutional and commercial categories.

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