Noida Authority Launches Major Land Allocation Initiative to Boost Urban Development
Noida, is gearing up for a transformative land allocation project that promises to significantly impact its development landscape. The Noida Authority has identified approximately 1,200 plots across a range of categories, including residential, commercial, industrial, and institutional sectors. This strategic move is aimed at addressing the growing demand for urban space and is expected to generate substantial revenue for the region.
The impetus behind this initiative was underscored during a recent meeting led by Noida Authority CEO, Lokesh M. During the meeting, the civil department presented an extensive report detailing the status of vacant plots across the city. Out of the identified 1,200 plots, around 1,190 are currently unoccupied. These plots span various sectors in work circles 1 to 10 and are categorized as either unallocated, allocated but without ongoing construction, or cancelled allocations due to various issues. This comprehensive report highlights a pressing need for effective land management and utilization.
One of the key aspects of the Authority's plan involves addressing plots where construction has stalled. To this end, the Authority will take action against plots where the construction has not commenced within the stipulated lease period. Such plots are at risk of cancellation, a process that will be preceded by a public notice in local newspapers. This step aims to ensure that all allocated plots are utilized efficiently and to prevent land from remaining idle for extended periods.
CEO Lokesh M has directed the relevant asset departments to verify the current status of these plots based on the civil department's report. This verification process is crucial for accurately assessing the plots' availability and suitability for allocation. Once this verification is complete, the Authority plans to initiate the publication of schemes for the unallocated plots, making them available for new allocations. This move is expected to streamline the allocation process and enhance the efficiency of land use in Noida.
The Noida Authority has set ambitious targets for land allocation this fiscal year. The plan involves distributing a total of 5.5 lakh square meters (approximately 135 acres) of land across various categories. Specifically, the allocation includes 3.2 lakh square meters for institutional purposes, 1 lakh square meters for industrial sectors, 67,500 square meters for residential plots, 35,000 square meters for commercial sectors, and 13,800 square meters for group housing projects. These allocations are designed to cater to diverse needs and promote balanced urban growth.
In terms of revenue generation, the Noida Authority aims to achieve a total of Rs 3,795 crore from these land allocations. The projected revenue breakdown is as follows: Rs 1,080 crore from group housing projects, Rs 1,010 crore from the commercial sector, Rs 705 crore from the industrial sector, Rs 650 crore from residential plots, Rs 315 crore from institutional allocations, and Rs 35 crore from additional residential buildings. This revenue generation is a key objective of the initiative, reflecting the Authority's commitment to boosting the local economy and enhancing infrastructure.
The Authority's approach to land allocation is both proactive and strategic. By addressing the issue of vacant and underutilized plots, the Noida Authority aims to optimize land use and stimulate economic activity. The focus on verification and efficient management of allocated plots underscores the Authority's dedication to ensuring that land is put to productive use.
Looking ahead, the Noida Authority is poised to drive significant urban and economic development through this initiative. The emphasis on addressing vacant plots, expediting the allocation process, and ensuring compliance with lease terms will contribute to the region's growth and development. By implementing these measures, the Authority not only aims to enhance urban infrastructure but also to create a conducive environment for economic prosperity.
