The Noida Authority has identified around 1,200 plots across various categories for upcoming schemes. In a recent meeting led by CEO Lokesh M, it was revealed that 1,190 plots remain vacant, spanning industrial, residential, commercial, group housing, and institutional uses. The Authority aims to allocate 5.5 lakh square meters (135 acres) of land in the current fiscal year, with specific areas designated for each sector. Anticipated revenue generation is INR 3,795 crore, mainly from group housing (INR 1,080 crore) and commercial sectors (INR 1,010 crore). This strategic land allocation reflects Noida Authority's efforts to stimulate regional growth while addressing underused plots to boost economic development.
The Noida Authority has identified approximately 1,200 plots across various categories for upcoming schemes. It was mentioned that plots where construction has not commenced within the lease period would face cancellation, with a public notice to be issued in newspapers prior to any such action.
In a recent meeting chaired by CEO Lokesh M, the civil department presented a report indicating that 1,190 plots across sectors in work circles 1 to 10 remain vacant. These plots are designated for industrial, residential, commercial, group housing, institutional, and facility purposes. Some are unallocated, while others are allocated but have not seen construction, or have been cancelled due to various issues. The CEO instructed the relevant asset departments to verify the status of these plots based on the civil department's findings and to initiate the publication of schemes for the unallocated plots.
The Noida Authority aims to allocate a total of 5.5 lakh square metres (135 acres) of land across different categories in the current fiscal year. It has earmarked 3.2 lakh square metres for institutional purposes, 1 lakh square metres for industrial sectors, 67,500 square metres for residential plots, 35,000 square metres for commercial sectors, and 13,800 square metres for group housing projects.
In terms of revenue generation, the Authority anticipates raising INR 3,795 crore from these allocations. It is projected that the group housing sector will contribute INR 1,080 crore, followed by the commercial sector at INR 1,010 crore. The industrial sector is expected to generate INR 705 crore, while residential plots are anticipated to bring in INR 650 crore. Institutional allocations are forecasted to yield INR 315 crore, with residential buildings contributing an additional INR 35 crore.
In summary, the Noida Authority's identification of 1,200 plots for various upcoming schemes reflects its proactive approach to land allocation and urban development. With ambitious revenue targets and a focus on diverse sectors, the Authority aims to stimulate growth while addressing vacant plots, ultimately contributing to the region's economic development.
Advertisement
Facebook
Whatsapp
