Greater Noida Authority Allocates Funds for Airport and Land Acquisition

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    “Greater Noida Authority (The Greater Noida Industrial Development Authority) Allocates Funds for Airport and Land Acquisition”

    GNIDA board recently approved a budget of Rs 4,859 crore for the fiscal year 2024-25. This includes Rs 1,200 crore for land acquisition, Rs 500 crore for the Noida Airport project, and Rs 30 crore for metro rail expansion. The decision was made during the 134th Board Meeting chaired by GNIDA Chairman Manoj Kumar Singh, along with CEO N G Ravi Kumar and other officials.

    Of the total budget, Rs 1,272 crore is allocated for development and construction works, with an additional Rs 1,500 crore set aside for loan payments. The authority anticipates earning Rs 4,810 crore through land allotment, including contributions from builders, industries, and commercial establishments.

    A significant portion of the budget, Rs 500 crore, is allocated for GNIDA’s contribution to the upcoming Noida International Airport. Another Rs 30 crore is earmarked for the expansion of the metro rail network’s phase two. Additionally, Rs 520 crore is allocated for rural development and the establishment of ‘smart villages.’

    Urban and health services are allocated Rs 957 crore, while Rs 280 crore is set aside for electric sub-stations managed by UPPCL and UPPTCL. This budget allocation aims to support infrastructure development and various projects in Greater Noida.

    Also read: Grade A Developer Dominance Fuels 40% Sale of New Launch Supply in Top 7 Cities in 2023

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