Greater Noida Achieves Nearly 50% of Investment Target

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    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

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