Noida Authority Secures ₹1 Lakh Crore Investment After Allotting 149 Plots in FY 2023-24

The Noida Authority has secured ₹103,000 crore in investments, surpassing its target of ₹90,000 crore in fiscal year 2023-24 by. This was achieved through the allotment of land for 149 diverse projects, including those from IT, corporate houses, multinational corporations, and housing sectors.

In the last fiscal year, the Noida Authority strategically allotted plots to at least 149 projects, aiming to drive substantial economic growth in the region. These projects were part of a broader initiative that saw 448 investors sign memorandums of understanding (MoUs) with the state government. The MoUs facilitated the referral of these proposals to the respective industrial bodies, ensuring streamlined processing and implementation.

As per hindustantimes.com, recent report submitted to the state government highlighted the progress of these investment proposals, detailing their materialization on the ground. The report was compiled following directives from the state government, which is planning a ceremony to officially launch these projects.

The Noida Authority has been proactive in monitoring and updating the status of these projects. "We have directed teams to visit every site allotted and upload the current status, along with its geographic coordinates, to the 'Invest Sarthi' portal. This ensures that officials in Lucknow can monitor the progress of each project," said Lokesh M, CEO of the Noida Authority.

Of the 149 projects allotted land, at least 50 have already commenced construction, with the remainder in various stages of preparatory work. These projects include 89 industrial plots, 37 information technology plots, 12 commercial plots, and 11 group housing plots. The sizes of these plots range from 450 square meters to 52,000 square meters, accommodating a wide variety of business needs.

Prominent companies such as Max, IKEA, County Group, Godrej, Uflex, and Dixon have been allotted land. These developments are expected to generate approximately 440,000 jobs over the next three years, significantly boosting the local economy.

The Noida Authority's efforts extend beyond merely allotting land. Thy are also addressing all issues hampering the setup of these businesses on a priority basis. This includes removing encroachments, relocating trees, obtaining environmental clearances, and laying down essential infrastructure like sewer and drainage networks.

In addition to these logistical supports, the Noida Authority is ensuring that all necessary regulatory procedures are expedited, including the execution of registries. This comprehensive approach aims to facilitate a smooth and efficient establishment process for all investors, minimizing potential delays and complications.

The successful allotment of these plots and the substantial investments secured highlight Noida's growing appeal as a prime investment destination. The proactive measures and strategic planning by the Noida Authority underscore its commitment to fostering an environment conducive to business growth and economic development.

As Noida continues to evolve, these investments are poised to play a crucial role in its transformation into a major economic hub. The Noida Authority's initiatives reflect a robust approach to urban development, ensuring that the region remains attractive to both national and international investors.