Rs 90,000 crore deals signed, Noida races to find land for business | Noida News

NOIDA: The Noida Authority is rushing to find land for investors who have made business proposals that are worth Rs 90,000 crore.
Officials said the Authority had 319 acres available for the investors, who signed MoUs at the Global Investors’ Summit held in Lucknow in February. But all of this land is not for setting up industry.


While 222 acres are in the commercial category, 35 acres are for institutional purposes, 24 acres for industries, 28 acres for residential projects and 10 acres for group housing societies. According to the master plan for 2031, the Authority hopes to have 864 acres in its land bank. While 365 acres are planned for commercial projects, 190 acres will be earmarked for setting up industries.
But in order to turn the investment proposals in the pipeline into reality, the Authority has decided to acquire 400 acres over the next four years. Till 2027, land would be acquired in three terms – short, mid and long.
In the short term, the Authority plans to acquire 50 acres by December this year. The mid-term will span the entire 2024, when the Authority hopes to bring 150 acres in its kitty. During the long term – between 2005 and 2027 – the Noida Authority will acquire 200 acres.
Officials said that the land would be acquired mostly in villages that were notified by the Authority of late. Teams from the land records department have been holding camps at various villages three days a week. The Authority will reach a mutual agreement with the landowners.
Apart from acquiring land, the Noida Authority hopes to get back some plots that are mired in litigation. Among them are 86.5 acres of disputed land in Sector 43, which the Authority has already taken possession of. Wave Group has also surrendered 112 acres of commercial land under the project settlement policy.
The Authority has also taken back possession of 46 acres allocated for six hotel projects in sectors 97, 98,105 and 124. A total of 27 acres allotted to Wave Group has been taken over too.
The Authority, officials said on Friday, is also planning to cancel the allotment of 500 industrial, IT and ITES plots of varying sizes. Those allotted the land were issued notices after they failed to make much headway with their projects.
Moreover, the Noida Authority has bought 311 acres directly from farmers in the past five years.
Additionally, the upcoming “New Noida” (DNGIR) will fulfil a major chunk of land requirements. Made up of over 80 villages of Noida and Bulandshahr and spread across 215sqkm, DNGIR is being developed as a city with “smart” physical infrastructure. Its master plan is in the final stage, officials said, adding that those seeking huge land parcels would be given allotments there.
As part of plans to help the investors, the Authority and the Noida administration have decided to sort out issues related to land acquisition on priority. A meeting was held earlier this week in connection with the acquisition proposals. The additional district magistrate (land acquisition) has been asked to complete the proposals of land acquisition in the notified villages soon.

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