Noida budgets Rs 1,000 crore for land acquisition for 'New Noida'

26 Apr 2023 CW Team

The announcements were made following the Noida Authority's 20th Board Meeting, which was attended by UP Industrial and Infrastructure Development Commissioner Manoj Kumar Singh.

During the meeting, the Noida authority board approved a budget of Rs 69.20 billion for 2023-24, which was also attended by Authority CEO Ritu Maheshwari.

“A target of Rs 89.20 billion in revenue and Rs 65.03 billion in expenditures has been set by the Noida Authority Board for the financial year 2023-24,” the authority said in the statement.

“For the financial year 20222-23, the authority’s target of revenue was Rs 48.80 billion and expenditure target of Rs 45.79 billion (108 per cent more than the target) was achieved,” it said.

The board noted that in the last financial year, both income and expenditure in Noida have been more than the set target.

“The main reason for higher receipts this year is the sale of industrial and residential plots through the e-auction system,” the statement added.

The Authority has made a total provision of Rs 5 billion for land purchase in the Noida area and Rs 10 billion for land acquisition in New Noida, it claimed.

The Revenue Department was urged to speed up property acquisition activities in the coming months after the Revenue Department expressed displeasure with the progress of land acquisition last year, according to the statement.

An expenditure of Rs 19.06 billion has been approved for development and construction work, which will include administrative office, Sector-96, construction of elevated road from Chilla regulator to Mahamaya flyover, and construction of elevated road, among other things.

The current fiscal year has a total provision of Rs 1.41 billion for village development, which comprises sanitary measures, road repair, and urban maintenance work, according to the statement.

The Noida Authority said that it had spent Rs 10 billion on land acquisition for the 'New Noida' area. The council also set aside Rs 5 billion for land acquisition in the existing Noida area, and Rs 19.06 billion for infrastructure and development activities, according to a statement. The announcements were made following the Noida Authority's 20th Board Meeting, which was attended by UP Industrial and Infrastructure Development Commissioner Manoj Kumar Singh. During the meeting, the Noida authority board approved a budget of Rs 69.20 billion for 2023-24, which was also attended by Authority CEO Ritu Maheshwari. “A target of Rs 89.20 billion in revenue and Rs 65.03 billion in expenditures has been set by the Noida Authority Board for the financial year 2023-24,” the authority said in the statement. “For the financial year 20222-23, the authority’s target of revenue was Rs 48.80 billion and expenditure target of Rs 45.79 billion (108 per cent more than the target) was achieved,” it said. The board noted that in the last financial year, both income and expenditure in Noida have been more than the set target. “The main reason for higher receipts this year is the sale of industrial and residential plots through the e-auction system,” the statement added. The Authority has made a total provision of Rs 5 billion for land purchase in the Noida area and Rs 10 billion for land acquisition in New Noida, it claimed. The Revenue Department was urged to speed up property acquisition activities in the coming months after the Revenue Department expressed displeasure with the progress of land acquisition last year, according to the statement. An expenditure of Rs 19.06 billion has been approved for development and construction work, which will include administrative office, Sector-96, construction of elevated road from Chilla regulator to Mahamaya flyover, and construction of elevated road, among other things. The current fiscal year has a total provision of Rs 1.41 billion for village development, which comprises sanitary measures, road repair, and urban maintenance work, according to the statement. See also:New Noida: A new real estate investment zone in NCRConsultant asked to prepare New Noida master plan by Aug 31

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Building Material

11 Dec 2025

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

Building Material

11 Dec 2025

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..