Greater Noida Authority Board Meeting Confirms Land Acquisition and Major Projects in a Rs 5,600 Crore Budget
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Synopsis
The 138th Board meeting of the Greater Noida Authority approved a budget of Rs 5,600 crore for 2025-26, emphasizing land acquisition and development. Key projects include a new stadium, elevated roads, and a cargo terminal, with additional support for fire safety and housing for working women.
Key Takeaways
- Approved budget of Rs 5,600 crore for 2025-26.
- Focus on land acquisition and development projects.
- New stadium and elevated road construction approved.
- Creation of a cargo terminal generating 15,000 jobs.
- Suspension of penalty for delayed flat registrations.
Greater Noida, March 29 (NationPress) The 138th Board assembly of the Greater Noida Authority wrapped up on Saturday, where a budget amounting to Rs 5,600 crore for the fiscal year 2025-26 was sanctioned. The session was presided over by Uttar Pradesh Chief Secretary and the Chairman of the Authority, Manoj Kumar Singh.
The budget emphasizes land acquisition, development, and construction activities. As per the approved budget, Rs 1,400 crore will be allocated for land acquisition, while Rs 1,973 crore will fund development initiatives.
The CEO of the Authority, N.G. Ravi Kumar, mentioned that in light of feedback from industrial investors, the budget for 2025-26 is heavily focused on land acquisition. Additionally, the budget encompasses funding for projects such as a stadium in Greater Noida West, a synthetic track at Shaheed Vijay Singh Pathik Sports Complex, Metro construction, vendor markets, hospitals, and health facilities.
The Board also sanctioned an average 5 percent hike in the current pricing of industrial, residential, commercial, and institutional properties. This increase is aligned with market trends and rates derived from e-auctions. Following the policy influenced by the Amitabh Kant Committee, 77 out of 98 builder projects have gained benefits. To date, 35,494 flats have been registered, and 40,003 flats have received completion certificates.
The initiative to transform Shaheed Vijay Singh Pathik Stadium into a Centre for Excellence was also greenlit, providing public sports facilities. In light of the increasing traffic in Greater Noida West, the Board approved the development of an elevated road from Sector-4 to NH-24, intersecting Shahberi. The estimated expenditure for this project stands at Rs 400 crore.
Under the PM Gati Shakti scheme, a cargo terminal will be established on 260 acres of land adjacent to the ICD in Dadri, generating over 15,000 job opportunities.
The Board also ratified leasing space for the Employees' Provident Fund Organisation (EPFO), Western Sydney University, and a commercial court in Greater Noida. To enhance fire safety in the area, fire equipment worth Rs 29.48 crore will be acquired, including robot fire trucks, foam tenders, high-rise firefighting vehicles, and other gear.
Three working women’s hostels will be constructed in Greater Noida, with land leased at Rs 1 per year. Unoccupied flats built by the Greater Noida Authority will be rented to CRPF personnel stationed at the Noida Airport. Some units will also be designated for government departments.
In a significant relief for flat purchasers, the Board opted to suspend the Rs 100 per day penalty for delayed registrations for a period of three months.
