Greater Noida to build ₹2,000 cr corpus for city infra’s upkeep

The corpus fund will be kept in a nationalised bank, where the principal amount will remain untouched

GREATER NOIDA: To fulfil the city’s routine maintenance requirements, the Greater Noida authority has decided to arrange adequate funds for it by creating a dedicated corpus of around ₹2,000 crore, officials said on Tuesday.

To ensure discipline, the Authority has put in place a strict approval system. Any withdrawal from the fund will require both the Board’s approval and a formal sanction from the chief executive officer. (HT Archive)

The move comes with an aim to address the financial issues that often affect such works related to different departments under the Authority, said officials.

“The Greater Noida authority board has approved a dedicated corpus fund that will act as a permanent solution for the city’s maintenance needs. Officials said the move will insulate essential infrastructure—roads, drains, sewer lines, power supply systems, parks and green belts—from any future revenue uncertainties,” said a Greater Noida authority officer aware of the development.

According to officials, the Authority wants to make sure that day-to-day maintenance does not depend on how much money comes in from land sales or development fees.

In the past few years, most of Greater Noida’s developable land has been allotted, and the Authority expects its revenue from fresh land allotments to decline in the coming years. The new fund, expected to be around ₹2,000 crore, is designed specifically to prevent such revenue shifts from affecting civic services.

The corpus fund will be kept in a nationalised bank, where the principal amount will remain untouched. Only the interest generated will be used to carry out maintenance work across the city. To build this reserve, the Authority will channel steady revenue sources like lease rent, purchasable floor area ratio (FAR) fees, restoration charges and time-extension fees into the corpus.

Senior officials described the fund as a long-term “maintenance guarantee” for the city.

“This mechanism ensures that basic services—road repairs, drain cleaning, lighting work, park upkeep—continue without disruption, regardless of how revenues fluctuate,” an official said.

To ensure discipline, the Authority has put in place a strict approval system. Any withdrawal from the fund will require both the Board’s approval and a formal sanction from the chief executive officer. This, officials said, will prevent misuse and keep the fund reserved exclusively for essential upkeep.

The new model mirrors a similar initiative in Noida, where the Noida authority board also decided to set up a ₹400 crore corpus initially to secure long-term maintenance funding.

Like Noida, Greater Noida is also an autonomous body and does not receive financial support from the state government. With limited land left for sale and lease rent revenue expected to stabilise, officials said, creating a permanent reserve was the only way to protect the city’s growing network of civic infrastructure.