Noida Board approves Rs 8,732 crore Budget, infrastructure boost planned

Noida: The Noida Authority held its 217th board meeting on Friday which was presided over by Uttar Pradesh government’s Chief Secretary and Noida Authority chairman Manoj Kumar Singh. Officials said that several key important decisions were approved including land dispute resolutions, infrastructure enhancement, and investment facilitation.

To resolve incomplete builder projects affecting numerous buyers, the authority sanctioned a new scheme on December 21, 2023 in which Builders with outstanding dues can settle by depositing 25 percent of the amount.

“The Authority has recovered Rs 533.91 crore through the scheme, facilitating project completion and registry of nearly 2726 flats, thus benefitting homebuyers,” said Lokesh M, Chief Executive Officer (CEO), Noida Authority.

The financial year 2025-26 budget received approval, targeting Rs 8732 crore in expenditure.

This includes Rs 2410 crore for development works, Rs 2229 crore for maintenance, and Rs 224 crore for village development. The authority reported achieving 88.2 per cent revenue collection in 2024-25, marking the highest collection rate historically. The authority implemented a 6 per cent increase in land rates for residential, commercial and group housing projects, while maintaining stable rates for industrial and institutional sectors to support business operations. To address traffic congestion, the board approved a new six-lane elevated road parallel to the Noida-Greater Noida Expressway.

“This development aims to improve connectivity between Noida, Delhi, Haryana, and the Noida International Airport, while alleviating pressure on the Noida-Greater Noida Expressway,” the CEO added.

Investment promotion initiatives include implementation of “Uttar Pradesh Aerospace and Defense Unit and Employment Promotion Policy-2024” and “Uttar Pradesh Multi-Modal Logistics Park Policy-2024,” focusing on attracting defence sector investments and developing logistics facilities.

The authority modified its Structural Audit Policy to include qualified private institutions for multi-storey building inspections, enhancing structural safety standards. Officials said that proposals from qualified institutions will be solicited shortly.

The Noida Authority CEO stated that these decisions will enhance infrastructure, improve traffic management, attract investments, and support rapid urban development, ensuring modern amenities and better living standards for residents.