NOIDA: Noida Authority will hold its board meeting on March 28 to discuss the annual budget, the progress of stalled group housing projects under UP govt’s rehabilitation package, and matters related to farmers’ compensation.
Chief secretary Manoj Kumar Singh, who also chairs the board, wrote to the Authority on the inclusion of five key agendas.
Among them is the review of developers’ cases under the rehabilitation policy for stalled group housing projects, which is based on former bureaucrat Amitabh Kant’s committee report. The board will also discuss amendments to the unified policy for plot allotments, cancellations, and lease execution. Additionally, it will evaluate the number of plots and their total area allotted over the past year, and also decide on compensation rates for farmers whose land was acquired.
A major highlight of the meeting, officials said, will be the presentation of its annual budget for the financial year 2025-26, which is expected to be around Rs 9,000 crore. This figure represents a significant increase from the Rs 7,700 crore approved for 2024-25. The board will allocate funds for infrastructure projects, including the maintenance and construction of roads, sewer lines, drainage systems, water supply networks, parks, and the development of new industrial sectors and rural areas.
The board is also expected to discuss and approve an increase in allotment rates for residential, group housing, IT, institutional, industrial, and other categories because of surging property prices in the city. This year’s budget will also address compensation rates for landowners in the upcoming ‘New Noida’ region.
On Monday, proposals from all departments are likely to be reviewed by the Authority’s CEO Lokesh M, following which final recommendations will be presented to the board. The commercial and industrial departments will also present a new scheme brochure during the meeting.
For rural development, the authority plans to allocate Rs 100 crore to improve 81 villages under Noida’s jurisdiction. These initiatives include road construction, drainage upgrades, water supply improvements, and other essential infrastructure enhancements.
In 2024-25, about Rs 1,200 crore was allocated for civil projects, but the Authority could achieve 60% of its target. This year, the budget for civil works is expected to rise to around Rs 1,400 crore, which is expected to support numerous new construction initiatives.
