The objectives of the proposed expressway are as follows :_
- To provide a fast moving corridor to minimize the travel time,
- To connect the main townships / commercial centres on the eastern side of Yamuna,
- To ensure development of adjoining area.
- To relieve NH-2 which is already congested and runs through the heart of cities like Faridabad, Ballabgarh and Palwal.
- The Yamuna Expressway (erstwhile Taj Expressway) along with the existing NH-2 and NH-91 and interconnectivity between all three of them will form a good network of roads which in turn, open up a vast area of all-round development in the following areas :
(a) Upcoming huge urban conglomerates in NOIDA and Greater Noida with their own potential will have easy accessibility towards Aligarh, Mathura and Agra.
(b) The proposed Export Promotion Zones including Taj Economic Zone along the Yamuna Expressway (erstwhile Taj Expressway) coupled with the proposed Taj International Airport and Aviation Hub will promote economic development of the area and the State of UP as a whole.
(c) Safe, shorter travel time and the accessibility in the region will accelerate land development along the Taj Expressway in a planned manner for commercial, industrial, institutional amusement and residential purposes.
The proposed Yamuna Expressway (erstwhile Taj Expressway), would actually be an extension of 6 lane Expressway from Noida to Greater Noida thus opening up the vast virgin area on the eastern bank of river Yamuna for the industrial and urban Development and provide convergence to the tourism, entertainment, leisure and knowledge based industry in region.
Yamuna Expressway (erstwhile Taj Expressway) Project is being implemented through Jaiypee Infratech Ltd. as Concessionaire of the Project. The Concession Agreement between Jaiprakash Industries Ltd. (Now Jaiypee Infratech Ltd., the SPV Company set-up as per Concession Agreement) and Yamuna Expressway (erstwhile Taj Expressway) Industrial Development Authority was signed on 07th February, 2003.
The total length of the Yamuna Expressway (erstwhile Taj Expressway) from Zero Point Greater Noida upto Agra will be 165.537 kms. as per the Alignment approved in the 14th Board Meeting held on 09-03-2007.
As per the provision of Concession Agreement, Concessionaire have rights for collecting tolls during the concession period of 36 years and also rights for land development of about 25 million square meters of land along the proposed Expressway. Land including 100 meters for the Expressway at five or more locations of which one location shall be in Noida/Greater Noida with an area of 5 million Square meters along the Expressway for commercial, amusement, industrial, institutional and residential development would be offered on acquisition cost on lease for the period of 90 years.
As per the Concession Agreement, land for development as well as expressway shall be transferred to Concessionaire on acquisition cost plus lease rent of Rs.100/- per hectare per year. The cost of construction of Expressway will be bear by the Concessionaire.
The Expressway to be developed in Three Phases:-
- Phase I: Expressway Stretch between Greater Noida & Taj International Airport.
- Phase-II: Expressway Stretch between Taj International Airport and an intermediate destination between Taj International Airport & Agra
- Phase III: Expressway Stretch between intermediate destination & Agra.
Project will be completed by 2010.