Noida Authority sets revenue target of Rs 4,880 cr and expenditure of Rs 4,579 cr for 2022-23

The Noida Authority on Monday tabled the budget for the financial year 2022-23 in which it set a target of Rs 4,880 crore in revenue and Rs 4,579 crore in expenditure for development works.

The authority in a statement said Rs 500 crore has been allocated for land acquisition while Rs 1,530 crore for development and construction works and Rs 125 crore for rural and urban development. He also presented a list of key decisions on new projects during his 204th board meeting on Monday in his Sector 6 office under the chairmanship of the Commissioner for Infrastructure and Industrial Development and President of the authority of Noida, Sanjiv Mittal.

Noida Authority CEO Ritu Maheshwari, Greater Noida Authority CEO Narendra Bhooshan and Yamuna Expressway Authority CEO Arun Vir Singh also attended the meeting among others.

”A target of about Rs 4,880 crore has been set by the authority for revenue in the coming financial year 2022-23, against which a provision of Rs 4,579 crore has been made for development planned and projects in the region” the statement read.

“Among the expenditures, Rs 500 crore for land acquisition, Rs 1,530 crore for development and construction works, Rs 125 crore for rural and urban development. Rs 978 crore has been earmarked for maintenance, cleaning, horticultural works in the area, among others,’ he added. The board also approved changing the process for allocating IT or ITES plots to be awarded by the Department of Industrial and Institutional Plots. “In order to make the process more transparent given the objections of the CAG, instead of the existing lottery process for the allocation of industrial plots and IT/ITES land use plots in the different categories of institutional department areas, all industrial and institutional areas/categories, the allocation of IT/ITES plots will be through electronic auctions,” he said.

On payment of the premium due in respect of the plot in one installment, the authority said that it was decided to grant a two percent discount on the total premium.

Regarding the change in process of allocation of residential plots, he said that under the auction for the allocation of residential plots, it was decided to adopt the procedure or policy prevailing at Delhi Development Authority.

The authority has also extended the benefits to people on the inclusion of grandchildren in the direct blood relation in the residential plots” Extending the current policy for the blood relation in the authority, in the event of the death of the father, it was decided to make the transfer in favor of the grandchildren free of charge given the blood relationship,” he said.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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