Newsdetail

Noida Authority Allocates Funds for Land Acquisition and Development Projects

By Rishabh Chamoli | 2023-04-28

The board directed the Revenue Department to expedite land acquisition efforts in the coming months and approved an expenditure of Rs. 1,906 crores for infrastructure and development work.

The Noida Authority announced on Sunday that it had allocated Rs. 1,000 crores towards acquiring land for the New Noida area. Additionally, a provision of Rs. 500 crores has been made for land acquisition in the existing Noida area.

The authority also approved a budget of Rs. 6,920 crores for the financial year 2023 to 24 during the 209th Board Meeting, with a revenue target of Rs. 8,920 crores and an expenditure target of Rs. 6,503 crores. The previous years revenue and expenditure targets of Rs. 4,880.62 crores and Rs. 4,579 crores were surpassed by 108%. The sale of residential and industrial plots through e auction contributed significantly to the higher receipts.

The board directed the Revenue Department to expedite land acquisition efforts in the coming months and approved an expenditure of Rs. 1,906 crores for infrastructure and development work, including the construction of an elevated road from Chilla regulator to Mahamaya flyover, administrative office in Sector96, and construction of an elevated road. Additionally, Rs. 141 crores have been allocated for village development, encompassing road repair, cleanliness arrangements, and urban maintenance work.

The CEO of the Authority, Ritu Maheshwari, and the UP Industrial and Infrastructure Development Commissioner, Manoj Kumar Singh, were present at the meeting.