NOIDA: Noida Authority has identified around 1,200 plots across various categories for multiple schemes slated to launch soon. Additionally, plots where construction has not begun within the lease period will be subject to cancellation. A public notice regarding these plots will be published in newspapers before initiating cancellation.
During a recent meeting chaired by CEO Lokesh M, the civil department provided a report according to which 1,190 vacant plots across sectors in work circles 1 to 10 are vacant.
These plots, designated for industrial, residential, commercial, group housing, institutional, and facility purposes, are either unallocated, allocated but lacking construction, or have been cancelled after allocation due to various issues.
The CEO directed the relevant asset departments to verify the status of these plots based on the civil department’s report and initiate the publication of schemes for the unallocated plots.
The Noida Authority targets to allocate 5.5 lakh square metres (135 acres) of land across various categories in this fiscal year.
A total of 3.2 lakh square metres has been set aside for allotment under institutional purposes, 1 lakh square metres for industrial sectors, 67,500 square metres for residential plots, 35,000 square metres for commercial sectors, and 13,800 square metres for group housing projects.
In terms of revenue, the Authority aims to generate Rs 3,795 crore from these allocations. The group housing sector is expected to contribute Rs 1,080 crore, followed by Rs 1,010 crore from the commercial sector. The industrial sector is projected to generate Rs 705 crore, while residential plots will bring in Rs 650 crore. Institutional allocations are expected to generate Rs 315 crore, and residential buildings will contribute Rs 35 crore.
