Noida Authority to offer 1,200 plots across multiple schemes

20 Sep 2024 CW Team

The Noida Authority is preparing to launch approximately 1,200 plots across various categories, including industrial, residential, commercial, and institutional, as part of upcoming schemes. The authority has also announced plans to cancel plots where construction has not begun within the lease period, with a public notice to be issued before cancellations.

During a meeting chaired by Lokesh M, CEO of the civil department reported that 1,190 vacant plots across sectors in work circles 1 to 10 remain unoccupied. These plots are either unallocated, allocated but without construction, or have been canceled due to various issues.

The CEO instructed the asset departments to verify the status of these plots and begin the process of launching new schemes for the unallocated ones. The Noida Authority aims to allocate 550,000 square meters (135 acres) of land this fiscal year.

Allocations include 320,000 square meters for institutional purposes, 100,000 square meters for industrial sectors, 67,500 square meters for residential plots, 35,000 square meters for commercial use, and 13,800 square meters for group housing projects. The authority targets generating Rs 37.95 billion in revenue from these allocations, with major contributions expected from the group housing and commercial sectors.

(ET)

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