GNIDA allocates budget of Rs 6,443 cr for 2017-18

The Greater Noida Industrial Developmental Authority (GNIDA) held a meeting on Monday and allocated a budget of Rs 6,443 crore for the financial year of 2017-18, of which a prime share of around Rs 1,096 crore was allocated for the development and infrastructural programmes in the urban sector of the city.

The board also cleared a proposal to provide Rs 114 crore for the development of rural areas of the city.

In its meeting, the GNIDA board has decided not to increase the land rates in Greater Noida. "There will be no hike in the land allotment rates in all the categories of plots across Greater Noida in the year 2017-18. They are kept same as that in the previous year," said Debashish Panda, Chief Executive Officer, GNIDA.

The board has allocated Rs 1,100 crore for land acquisitions and related affairs.

"We have decided to keep a major portion of the yearly budget for land acquisitions. This is for the first time that such a huge share of the budget has been kept under this category. The farmer's compensation of village Gulistanpur will be released soon," said officials while addressing the media.

The board meeting has also sought to provide a big relief to the farmers who were demanding an increased compensation rate of their acquired land since past many years.

The board has cleared funds for the farmers of Gulistanpur which will be given to them at the rate of 64.70 per cent. A few days ago, the farmers have protested outside the authority office in Greater Noida, demanding an early release of their compensation against land acquired.

In addition to this, GNIDA has decided to make E-tendering and E-Procurement compulsory for all its projects and in all the tenders above Rs one lakh.

Among the other major decisions taken in the meeting has remained the development of residential plots in Sector 2 and Sector 3 of Greater Noida West.

"There will be 571 plots of various sizes developed in these sectors. The allotment of the plot will be given on the lottery basis," said an official. The budget this year has reduced to Rs 600 crore from the last year.