GNIDA Invests Big in Infrastructure: Allocates Rs 1,244 Crore for Development Projects

by admin on | 2023-04-29 16:50:16

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The Greater Noida Industrial Development Authority (GNIDA) has allocated Rs 1,244 crore for infrastructure and Rs 1,000 crore for acquiring land for various development projects from its 2022-23 budget. The CEO of GNIDA, Ritu Maheshwari, said that a significant amount of the Rs 4,378-crore budget for the financial year 2023-24 has been earmarked for land acquisition and developing infrastructure, considering the interest received from investors. The authority is expected to earn Rs 4,378 crore in revenue in 2023-24, including the amount received from land allottees under various heads. The board also allocated Rs 704 crore for maintenance works in the urban pockets, Rs 450 crore for the upcoming international airport in Jewar, and Rs 287 crore for developing infrastructure in the villages. GNIDA has also fixed the new allotment rates for land for the financial year, agreeing to increase the rates of industrial plots, IT parks, and data centres by 4.4%