Noida prepares ₹7,000 crore budget for board approval

As per tentative calculations, the authority will earmark around ₹1,200 crore for civil department, ₹100 crore for village development, ₹100 crore for horticulture department, ₹300 crore for maintenance work of civic services, ₹150 crore for water department, and ₹1,500 crore for land acquisition, among other allocations

The Noida authority on Tuesday said that it is likely to approve a ₹7,000 crore annual budget in its board meeting scheduled on June 27.

he board meeting is likely to take place in Noida authority’s Sector 6 administrative office (above). (HT Archive)

“We have almost finalised the budget of ₹7,000 crore after taking into account the important projects from all departments. The board meeting is likely to take place in Noida authority’s Sector 6 administrative office. We have prepared the agendas related to all departments to be tabled before the board for discussion and approval,” said Lokesh M, chief executive officer, Noida authority.

Uttar Pradesh additional chief secretary Manoj Kumar Singh, who is also chairman of Noida authority, will chair the board meeting that will discuss and finalize all agendas that have been prepared by the Noida authority’s different departments including land, group housing, horticulture, commercial, finance and institutional among others, said officials.

Apart from approving the budget for financial year 2024-25, the authority will also discuss and decide about the action against buildings built without layout approval on private land, action against realtors who have not paid their dues despite repeated notices and other issues, officials said.

Authority officials said the board meeting was to be held in February, but because the model code of conduct for the general elections, it had to be postponed.

As per tentative calculations, the authority will earmark around ₹1,200 crore for civil department, ₹100 crore for village development, ₹100 crore for horticulture department, ₹300 crore for maintenance work of civic services, ₹150 crore for water department, and ₹1,500 crore for land acquisition, among other allocations after deliberations, said officials.

The Noida authority will also allocate a large portion of the budget for development work and land acquisition for new Noida, proposed on agricultural land in neighbouring Bulandshahr district.

In 2023-24, the Noida authority had approved a ₹6,920 crore budget and in 2022-23 the authority had approved a budget of ₹4880.62 crore for development works in the city.