India News | Noida Authority Sets Rs 4,880 Cr Revenue Target, Rs 4,579 Cr Expense for 2022-23
Get latest articles and stories on India at LatestLY. The Noida Authority on Monday tabled the budget for the 2022-23 financial year in which it set a target of Rs 4,880 crore in revenue and Rs 4,579 crore in expenditure for development works.
Noida, Apr 4 (PTI) The Noida Authority on Monday tabled the budget for the 2022-23 financial year in which it set a target of Rs 4,880 crore in revenue and Rs 4,579 crore in expenditure for development works.
The authority in a statement said that Rs 500 crore has been allotted for land acquisition while Rs 1,530 crore for development and construction work, and Rs 125 crore for rural and urban development.
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It also put forth a list of key decisions on new projects as it held its 204th board meeting on Monday at its Sector-6 office under the chairmanship of the Infrastructure and Industrial Development Commissioner and Noida Authority Chairman Sanjiv Mittal.
Noida Authority CEO Ritu Maheshwari, Greater Noida Authority CEO Narendra Bhooshan and Yamuna Expressway Authority CEO Arun Vir Singh also attended the meeting, among others.
"A target of about Rs 4,880 crore has been set by the authority for the receipts in the coming financial year 2022-23, against which a provision of Rs 4,579 crore has been made for the planned development and schemes of the area," the statement read.
"Of the expenditure, Rs 500 crore on land acquisition, Rs 1,530 crore on development and construction work, Rs 125 crore on rural and urban development. Rs 978 crore has been earmarked for the maintenance, cleaning, horticulture work of the area, among others," it added.
The board also approved amendment in the allotment process of IT or ITES plots to be allotted by the industrial plots and institutional department.
"In order to make the process more transparent in view of CAG objections, in place of the existing draw/interview process for allotment of industrial plots and IT/ITES land use plots in different area categories of the institutional department, all the areas/categories of industrial and institutional the allotment of IT/ITES plots will be done through e-auction," it stated.
On payment of the premium due in respect of the plot in one lump sum, the authority said it has been decided to give a discount of two per cent on the total premium.
Regarding amendment in the allotment process of residential plots, it said under the auction for the allotment of residential plots, it was decided to adopt the procedure or policy prevalent in the Delhi Development Authority.
The authority also extended benefit to people over inclusion of grandchildren in the direct blood relation in residential plots
"Extending the prevailing policy for blood relation in the authority, in case of death of father, it was decided to make the transfer in favour of grandchildren free of cost considering blood relation," it stated.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)