Noida, Greater Noida set to approve their budget this week

The Noida and the Greater Noida authorities have almost finalized the annual budget and the respective fund allocation to various departments

The Noida and the Greater Noida authority are set to approve their annual budget in their respective board meetings scheduled on April 23 and 21, respectively. Apart from the annual budget many other important decisions related to the development of these two areas will be taken in these meetings, said officials.

Two authorities may also increase the land allotment rates by up to 10%, provided the board ratifies the increase, said officials. As per the rules, the authority increases the land allotment rate, or the price at which it allots the land to buyers every year, and the increase is then ratified by the board. (Bloomberg)

Manoj Kumar Singh, the Uttar Pradesh agricultural production commissioner, who also holds the charge of Uttar Pradesh infrastructure and industrial commissioner, is scheduled to attend board meetings in Noida and Greater Noida.

Singh is also chairman of the twin industrial bodies and will have to chair these meetings, which will discuss and approve the budget for 2023-24 financial year and other decisions.

“All departments are busy preparing the agenda to be discussed and approved in the board meetings,” said Ritu Maheshwari chief executive officer of the Noida and the Greater Noida authorities.

The Noida and the Greater Noida authorities have almost finalized the annual budget and the respective fund allocation to various departments including engineering, water wing, traffic cell and land department, among others.

Two authorities may also increase the land allotment rates by up to 10%, provided the board ratifies the increase, said officials. As per the rules, the authority increases the land allotment rate, or the price at which it allots the land to buyers every year, and the increase is then ratified by the board.

“The authorities have to decide the new allotment rates by April before it launches new allotment schemes. The Noida and the Greater Noida authorities are likely to launch new property schemes in the coming months; therefore they have to finalise the allotment rates before the schemes are launched,” said a Greater Noida authority official. .