Noida authority to launch 1,200 plots for multiple schemes

19 Sep 2024 CW Team

The Noida Authority has identified approximately 1,200 plots across various categories for multiple schemes that are set to launch soon. It was noted that plots where construction has not commenced within the lease period may face cancellation. A public notice regarding these plots will be published in newspapers prior to any cancellation actions.

During a recent meeting chaired by CEO Lokesh M, the civil department presented a report indicating that 1,190 vacant plots across sectors in work circles 1 to 10 are currently unoccupied. These plots are designated for industrial, residential, commercial, group housing, institutional, and facility purposes, and are classified as either unallocated, allocated but without construction, or cancelled post-allocation due to various issues.

The CEO instructed the relevant asset departments to verify the status of these plots based on the civil department's report and to commence the publication of schemes for the unallocated plots. The Noida Authority aims to allocate 5.5 lakh sq m (135 acres) of land across various categories in the current fiscal year. This includes 3.2 lakh sq m set aside for institutional purposes, 1 lakh sq m for industrial sectors, 67,500 sq m for residential plots, 35,000 sq m for commercial sectors, and 13,800 sq m for group housing projects.

In terms of revenue, the Authority plans to generate Rs 37.95 billion from these allocations. The group housing sector is anticipated to contribute Rs 10.80 billion, followed by Rs 10.10 billion from the commercial sector. The industrial sector is projected to yield Rs 7.05 billion, while residential plots are expected to generate Rs 6.5 billion. Institutional allocations are forecasted to bring in Rs 3.15 billion.

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