Noida Authority aims to generate Rs 38 billion in revenue

The Noida Authority has set an ambitious target of allocating 5.5 lakh sq m across various categories, including industrial, commercial, residential, group housing and institutional plots this financial year. The land allocation is expected to generate a revenue of Rs 37 billion. The Authority has decided on this ambitious target despite managing to allocate only 23% of its land target last year. The largest piece of land, 3.3 lakh sq m, has been earmarked for institutional purposes this year, suggesting that the Authority is focusing on IT/ITES parks, data centres and education and research facilities. Plots for industrial use are next on the list, with an allocation of 1 lakh sq m. Around 67,500 sq m of residential plots, 35,000 sq m in the commercial sector and 13,800 sq m in the group housing category will also be allocated. Despite smaller land parcels being allotted under group housing and commercial categories, they are expected to generate maximum revenue – of Rs 10.80 billion and Rs 10.10 billion respectively. Allocation of industrial land is expected to generate Rs 7 billion. Residential parcels have a revenue target of Rs 6.50 billion, while institutional parcels are likely to generate Rs 3.15 billion.