Noida Authority to Launch 1,200 Plots in Upcoming Schemes The Noida Authority has announced its plans to launch approximately 1,200 plots in various categories, including industrial, residential, commercial, and institutional. These plots are part of the upcoming schemes that the authority is preparing to introduce. Cancellation of Plots with No Construction To ensure timely development, the Noida Authority has decided to cancel plots where construction has not begun within the lease period. A public notice will be issued before the cancellations take place. This move aims to ensure that the allocated land is effectively utilized and prevent any wastage. During a recent meeting chaired by Lokesh M, the CEO of the civil department, it was reported that 1,190 vacant plots across sectors in work circles 1 to 10 remain unoccupied. These plots either have not been allocated to any project, are allocated but without any construction, or have been canceled due to various issues. As a result, the CEO has instructed the asset departments to verify the status of these plots and initiate the process of launching new schemes for the unallocated ones. With this step, the Noida Authority hopes to expedite the utilization of available land and boost development activities in the region. Allocation Plans for this Fiscal Year The Noida Authority aims to allocate approximately 550,000 square meters (135 acres) of land in the current fiscal year. These allocations will be divided into different categories according to their specific use. – **Institutional**: The authority plans to allocate 320,000 square meters of land for institutional purposes. This will support the development of educational institutes, hospitals, and other public amenities. – **Industrial**: Approximately 100,000 square meters of land will be allocated for industrial sectors. This step aims to attract private companies and encourage investment in the region, leading to industrial growth and job creation. – **Residential**: The Noida Authority plans to allocate 67,500 square meters of land for residential plots. This will cater to the growing demand for housing in the area and provide affordable housing options to the citizens. – **Commercial**: A total of 35,000 square meters of land will be allocated for commercial use. This will facilitate the establishment of retail outlets, office spaces, and commercial establishments, boosting the economy and creating business opportunities. – **Group Housing**: The authority has also earmarked 13,800 square meters of land for group housing projects. This will support the development of residential complexes and promote community living in the region. Expected Revenue Generation and Contributions The Noida Authority aims to generate a revenue of Rs 37.95 billion from these allocations. The major contributors to this revenue target are expected to be the group housing and commercial sectors, given their significant land allotments. By launching these new schemes, the Noida Authority is taking proactive steps to boost development, encourage investment, and meet the growing demands in various sectors. These efforts are aimed at supporting the overall growth and prosperity of Noida and creating a vibrant environment for its residents and businesses. (Source: ET)
Noida Authority to Cancel Unconstructed Plots
