Greater Noida Achieves Nearly 50% of Investment Target


    Share post:

    The Greater Noida Authority has reported significant progress in achieving its investment target, with nearly 50 percent of the earmarked Rs 60,000 crore already secured for a forthcoming groundbreaking ceremony. This ceremony will mark the commencement of a wide range of projects, encompassing infrastructure, housing, industrial ventures, institutional undertakings, and commercial initiatives. Additionally, projects valued between Rs 10,000 crore and Rs 12,000 crore are currently in the development pipeline. Uttar Pradesh Industrial Development Minister, Nand Gopal Gupta ‘Nandi,’ confirmed these developments.

    Gupta further disclosed that the Uttar Pradesh government was preparing to hold a groundbreaking ceremony for projects collectively worth Rs 10 lakh crore. The announcement followed a comprehensive review meeting with officials from the Greater Noida Industrial Development Authority (GNIDA), during which the progress of investment proposals was assessed. However, the exact date for the ceremony is yet to be officially announced, though sources suggest it might take place post the Diwali festival.

    During a global investors summit earlier this year, the state government received investment proposals totaling Rs 37.50 lakh crore. A meticulous assessment of these proposals, covering areas such as Noida, Greater Noida, and Bundelkhand, has led to the decision to initiate a groundbreaking ceremony for projects valued at Rs 10 lakh crore in the near future. Specifically, for Greater Noida, the investment proposal target was set at Rs 60,000 crore, of which Rs 30,000 crore has already been secured, with an additional Rs 10,000 crore to Rs 12,000 crore in the pipeline.

    Minister Gupta emphasized the need for strict action against major defaulters within the Authority who have yet to settle their dues. He directed officials to issue recovery certificates against these defaulters and take appropriate measures against them.

    Furthermore, it was revealed that the Chief Executive Officers (CEOs) of three key authorities – Noida, Greater Noida, and Yamuna Expressway Authority (YEIDA) – will now submit monthly progress reports to the ministry on the 5th of each month. This initiative aims to enhance transparency, accountability, and responsiveness within the system.

    Addressing concerns related to delays and discrepancies in map approvals, Minister Gupta emphasized that any laxity among officials will not be tolerated, and individuals will be held accountable for their actions.

    Also Read: Noida Authority Targets Recovery of Rs 7,000 Crore Dues with Escrow Accounts for Real Estate Developers


    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi RERA 

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi...

    Healthcare Giant Narayana Hrudayalaya Invests in Bengaluru Real Estate: Southern Market on the Rise

    Bengaluru Real Estate: Narayana Hrudayalaya, a healthcare company, recently bought a piece of land in Bengaluru for a...

    The aspiring generation driving growth of the student housing segment

    Over the past decade, India’s education system has transformed immensely. This is further accentuated by the country’s technological...

    Commercial Integration – Reshaping India’s Residential Landscape

    - by Akash Pharande, Managing Director - Pharande Spaces One important feature changing how people live and work in India's fast urbanizing terrain is the...