Noida secured investment of ₹1 lakh crore after allotting 149 plots in 2023-24 - Hindustan Times
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Noida secured investment of 1 lakh crore after allotting 149 plots in 2023-24

By, Noida
May 21, 2024 08:20 AM IST

The Noida authority in fiscal 2023-24 fixed a target of achieving ₹90,000 crore investments against which it got ₹103,000 crore worth of investments

The Noida authority allotted land to at least 149 projects, including IT, corporate houses. MNCs and housing, to bring in an investment of 103,000 crore in financial year 2023-24, said a report sent to the state government recently.

In last one year, 448 investors have signed memorandums of understanding with the state government, which refers these proposals to the respective industrial bodies. (Sunil Ghosh/HTPhoto)
In last one year, 448 investors have signed memorandums of understanding with the state government, which refers these proposals to the respective industrial bodies. (Sunil Ghosh/HTPhoto)

As per the report, several of these investors have started work at the site.

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The Noida authority compiled a report about the investment proposals that have materialised on the ground, following an instruction from the state government, which is planning a ”groundbreaking ceremony” soon to officially launch these projects.

Also Read: 7 things real estate investors should keep in mind before buying property in Greater Noida and Noida

“We have directed teams to go to every site allotted and upload the current status of the site along with its geographic coordinates. These details will be uploaded to the “Invest Sarthi” portal, and officials in Lucknow will be able to see the current status of a project,” said Lokesh M, chief executive officer Noida authority.

In the last one year, 448 investors have signed memorandums of understanding with the state government, which refers these proposals to the respective industrial bodies. The Noida authority has allotted land to 149 of 448 proposals. The remaining investors are seeking land in “New Noida” area, which is yet to be developed, said officials.

The Noida authority in fiscal 2023-24 fixed a target of achieving 90,000 crore investments against which it got 103,000 crore worth of investments. The state government has sought a report so that it can learn how many of the 448 proposals actually got land allotted and started work at the site, said officials.

Also Read: Noida getting out of reach for middle class? Average cost of an apartment rises to 1.68 crore

“At least 50 of the 149 projects that were allotted land have started construction work on the ground. And the remaining are in the process of getting work started,” said another official, asking not to be named.

There are 89 industrial plots, 37 information technology plots, 12 commercial and 11 group housing plots, officials said. The authority has allotted plots of different sizes, ranging from 450 square metres to 52,000 square metres.

The companies that were allotted land include Max, IKEA, County Group, Godrej, Uflex and Dixon, among others.

These 149 companies are set to create at least 440,000 jobs in the next three years, said officials.

Also Read: Godrej Properties wins bid for group housing plot for 506 crore in Sector 44, Noida

Lokesh M has directed the staff to address all issues hampering the setting up of these businesses on a priority basis.

“We are getting encroachments removed and trees shifted, besides obtaining environmental clearance, laying of sewer or drain network, and executing registry among others. We will resolve these issues in a timebound manner so that investors do not face any problem at any stage,” said the second official quoted above.

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