The Rs. 657-crore Dalit Prerena Sthala - former Uttar Pradesh chief minister Mayawati's dream project - was funded by city's taxpayers, the Noida authority has said.
The money could have run the city, with a population of 7 lakh and a number of infrastructure problems, for one year.
"The authority is a self-sufficient and funded the entire project," said a senior officer.
The disclosure comes in a report that the state government sought on parks and memorials built during Mayawati's tenure.
The report has been sent to the government, Anil Rajkumar, the authority's acting chief executive officer told Hindustan Times.
The parks, which were a constant target of the opposition, also generated a lot of heat during the recent state elections.
Mayawati was voted out, with 38-year-old Akhilesh Yadav giving the Samajwadi Party a huge win and earning the chief minister's position.
"The authority could have built 20 underpasses with the money and solved the traffic mess," admitted an official on condition of anonymity.
The park's construction began in 2008. The very next year, Rs. 770 crore was spent on Noida's development.
"The budget of the proposed Noida-South Delhi Metro line is Rs. 874 crore. You can imagine what could have been done with such a budget," said another official, who, too, refused to be identified.
Connectivity is a big problem facing the city, which also struggles with traffic jams.
The 33-acre park - which has 15 statues of Dalit 'icons', including two of former CM, and 20 of elephants - was inaugurated by Mayawati in 2011 but is yet to be opened to public.
The elephant is the party symbol of Mayawati's Bahujan Samaj Party.