Noida Authority Approves ₹8,732 Crore Budget for 2025-26, Increases Land Allotment Rates by 6%
The Noida Authority, in its 217th board meeting on Friday, approved an annual budget of ₹8,732 crore for the financial year 2025-26, allocating significant funds for city development, infrastructure, and maintenance projects. In addition, the board announced a 6% increase in land allotment rates across various categories, including residential, commercial, industrial, and institutional properties. The decision to hike rates was taken after evaluating market conditions and revenue generation targets.
Key Decisions and Allocations
The board meeting, chaired by Uttar Pradesh Chief Secretary Manoj Kumar Singh, was attended by Gautam Budh Nagar District Magistrate Manish Kumar Verma, Greater Noida Authority CEO Ravi Kumar NG, and other key officials at the Noida Authority's Sector 6 office. The agenda included discussions on revenue collection, infrastructure expansion, and urban development strategies.
One of the primary decisions included setting a revenue collection target of ₹9,008 crore across different departments for FY 2025-26. The budget allocation has been structured as follows:
- ₹2,410 crore for development and construction works
- ₹2,229 crore for the maintenance of civic facilities
- ₹224 crore for village development
- Remaining funds allocated to administrative expenses, public welfare projects, and contingency reserves
Land Allotment Rate Revision
The Noida Authority has revised land allotment rates in response to market conditions. This impacts the pricing of new properties, including residential and institutional plots that will be auctioned or allotted under various schemes.
- Residential land rates: Increased by up to 6% in A to D category sectors
- A+ category residential sectors: No change in rates
- Commercial land rates: No change
- IT/ITES parks and data centers: Rates increased from ₹73,220 to ₹77,613 per square meter for properties in sectors 1, 16A, and 24
According to Noida Authority CEO Lokesh M, the land allotment rates have been increased considering market conditions across all categories. The board has formulated the annual budget based on the requirements for infrastructure maintenance and city development.
Revenue Collection and Stalled Housing Projects
For FY 2024-25, the authority had set a revenue collection target of ₹7,713 crore but managed to collect ₹6,809 crore. To bridge revenue gaps, the authority is implementing stricter compliance measures and improving efficiency in revenue collection. The revised revenue target for FY 2025-26 aims to overcome the shortfall observed in the previous year.
Additionally, discussions were held on addressing stalled housing projects, which have been a long-standing concern for homebuyers and investors in Noida. Efforts are being made to resolve these issues through policy interventions and collaborative solutions with developers. The board emphasized that resolving these delays is crucial for maintaining investor confidence and ensuring the timely completion of housing projects.
Infrastructure Development: New Elevated Road Project
To enhance connectivity between Delhi and Noida International Airport, the board approved a proposal for a new road network. The project includes the construction of an elevated six-lane road and an eight-lane ground-level road from Kalindi Kunj (Noida-Delhi border) to the Noida-Greater Noida border.
Noida Authority CEO Lokesh M stated that the newly planned elevated and ground road will facilitate smoother travel between Delhi and Noida Airport without requiring commuters to use Noida city roads. This initiative is expected to reduce congestion and improve overall traffic flow.
The elevated road is expected to significantly reduce travel time and ease congestion on major city roads. The project is part of a broader urban mobility initiative aimed at strengthening regional connectivity and facilitating smooth transportation for residents and businesses.
Impact on Real Estate and Infrastructure
The hike in land allotment rates is expected to influence property prices in the region, particularly for new developments. However, the authority believes that the price adjustment is necessary to align with market trends and ensure continued urban development. The revised rates will impact upcoming residential and commercial projects, prompting developers and investors to reassess their strategies.
Additionally, the authority has been focusing on the overall enhancement of urban infrastructure. Plans for new green spaces, improved sewage and drainage systems, and smart city initiatives were also discussed in the board meeting.
With these strategic decisions, Noida Authority aims to boost economic growth, streamline urban planning, and provide better civic amenities to residents and businesses alike. The focus remains on long-term infrastructure improvements, revenue generation, and addressing urban challenges efficiently. As Noida continues to grow as a commercial and residential hub, these budgetary decisions will play a crucial role in shaping the city's future.
