Greater Noida: GNIDA approves Rs 2,000 crore for land acquisition in 2022-23

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) on Tuesday approved a budget of over Rs 5,100 crore for 2022-23, allocating Rs 2,000 crore from it for land acquisition and Rs 1,400 crore for development works in villages and residential sectors. This is the biggest budget for any fiscal year since 2017-18 for GNIDA, which held its 126th Board meeting on Tuesday, according to officials.

“The Board of GNIDA has approved the budget of Rs 5,104 crore for the financial year 2022-23. It has been approved in the board meeting held under the chairmanship of Industrial Development Commissioner and Noida-Greater Noida Authority Chairman Sanjeev Mittal,” an official statement read.

“This is the biggest budget after the financial year 2017-18. In this budget, maximum emphasis has been given on land acquisition, development of infrastructure and development works of villages and sectors,” it added.

Officials said after dealing with the Covid-19 pandemic crisis, Greater Noida has once again caught the pace of development and a glimpse of this will be visible in this time’s budget as special emphasis is being laid on increasing the land bank.

After the meeting, GNIDA CEO Narendra Bhooshan said in the last few years, the trend of industrial investors towards Greater Noida has increased rapidly.

“Many investors are asking for land for setting up industries. The authority is constantly trying to provide land to them. For this reason, in the budget of 2022-23, more emphasis is being given on land acquisition,” he said.

“For this, it is planned to spend about Rs 2,000 crore. Authority is also focusing on increasing capital and infrastructure this year. A budget of about Rs 1,714 crore has been fixed for this. In the form of other revenue expenditure, the target is to spend more than Rs 1,400 crore this year on development of sectors and villages of Greater Noida, health services etc,” he said.

Bhooshan said at the same time, this year the authority is expected to have an income of about Rs 7,322 crore, which includes the amount received from the allottees as well as other revenue.

Despite the pandemic, the GNIDA has received revenue of about Rs 2,200 crore in the last financial year, according to the statement.

Additional Chief Secretary, Industrial Department of Uttar Pradesh government, Arvind Kumar virtually attended the meeting, while Noida Authority CEO Ritu Maheshwari, Yamuna Expressway Authority CEO Arun Vir Singh GNIDA Additional CEO Aditi Singh, Deep Chandra and Amandeep Duli, OSD Sachin Singh, among others, were present as board members.

The GNIDA had a budget of Rs 6,443 crore in 2017-18 followed by Rs 3,639 crore in 2018-19, Rs 4,260 crore in 2019-20, Rs 4,369 crore in 2020- 21 and Rs 4,398 crore in 2021-22, according to officials.