NOIDA clears Rs 5,000 cr budget for infrastructure, development projects

noida: Noida Authority, on Tuesday, held its 199th board meeting and sanctioned a budget of Rs 5,037. 37 crore for various infrastructural and development works. Officials said that around 52 proposals were tabled in the meeting which included the allocation of Noida Authority's share for the extension of Aqua line-Noida-Greater Noida metro corridor, Gautam Buddh University, interest waivers for properties owned by the authority, multi-level car parking projects, botanical gardens, parks and development of the industrial sector.

"The authority board has decided to approve the extension of yearly budget meant for land acquisition from present Rs 600 crore to Rs 1,000 crore. Also for the development of rural areas, the board has sanctioned a budget of Rs 125 crore which was earlier Rs 106 crores. The fund will be spent on various infrastructural and development works in these areas," said a senior official.

For the extension of the Noida-Greater Noida metro corridor, the Noida Authority has sanctioned its share worth over Rs 481 crore. "The authority has already provided Rs 210 crore on its part to fund the metro corridor while Rs 271.29 crore was sanctioned on Tuesday," the officer added.

The meeting was headed by Alok Tandon, Commissioner of Infrastructure and Industrial Development and also Chairperson of NOIDA. During the meeting, Chief Executive Officer (CEO) Ritu Maheshwari, CEO along with chiefs of GNIDA, YEIDA and other senior officials were also present.

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