NOIDA, GNIDA, YEIDA announce slew of measures to aid growth

The authorities not only announced a myriad of developmental projects, Noida Metro schemes but also made all efforts to facilitate the needs and benefits of home buyers.

Giving a boon to the revenue base of the newly-formed Noida Metro Rail Corporation, the Noida Authority in its 190th Board Meeting on Friday approved all the rights of the properties constructed on the Metro line to the public entity except land ownership and allotted 34 hectare of land in Sector-145 to NMRC for handling commercial development rights. 

The board also made a major announcement on constructing new skywalk bridges between Sector-52 and Sector-71 Metro station for seamless integration. 

“Ownership of the parking land will vest with Noida/Greater Noida as per their notified area. User and development rights of the parking area will vest with the NMRC which will also accrue revenue generation from this,” said Rama Raman, Chairperson of the three authorities. 

In addition to this, the Authority has directed to release one month fund of Rs five crore to the NMRC to operate city bus service.

To benefit home buyers, all the three authorities have decided to bring Project Settlement Policy (PSP) which will also increase government revenue. 

According to the proposed policy, for any unregistered property, the buyers will get a lease deed facility with the authority. To complete any under-construction projects co-developers would be invited. An account would be opened for a particular project to ensure expenditures. 

The policy will also aim at reviving suffering realty projects. It will benefit nearly four lakh home buyers who are yet to get possessions of their homes.

Taking some important decisions in the favour of farmers and the economically weaker classes, the Greater Noida Industrial Development Authority (GNIDA), took a major decision which gave 20 per cent quota to the children of farmers in private schools. 

The quota for children will only apply in nursery and Class I. 

“Every private school that comes under the GNIDA area will have to give a quota of 20 per cent to the children of farmers whose land was acquired by the authority. 

The children will also get a discount of 25 per cent in the fees. Other than this, GNIDA will also provide 50 per cent discount in school fees to two poor children which will be suggested by the District Magistrate” said GNIDA CEO Deepak Agarwal.  

The board has decided to construct four new bridges on the Hindon River between Noida and Greater Noida. The authority had asked the UP government to take actions and ask Jaypee Infratech to pay around 64.7 per cent compensation to the farmers. Many other schemes and common agendas were approved by all the three authorities as well.