The Greater Noida Authority Board on Friday approved Rs 500 crore for the upcoming airport in the Jewar area as Uttar Pradesh prepares to open Noida International Airport, adjoining Delhi, in the Gautam Buddh Nagar district this year.
Read More: Good news for landlords! Net rental yield in India one of the highest in the world
Land acquisition received a major boost from the Greater Noida Authority, which approved a budget of Rs 4,859 crore for the fiscal year 2024–25 and allocated Rs 1,200 crore for it. It set aside Rs 1,272 crore for development and construction projects. In addition, a goal of earning Rs 5,860 crore in revenue for this fiscal year—of which Rs 1,680 crore comes from builders—has been set.
According to officials, payments for loans that were already in place have totaled Rs 1,272 crore as of January 31, 2024, for the fiscal year 2023–2024.
Read More: DDA e-auction for 257 penthouses, HIG, MIG flats on Mar 5: Check pricing, bidding process
A total of Rs 1,317 crore in receipts have been made through January 31, 2024. Until January 31, 2024, a payment of Rs 1,448 crore was made concerning the income and expenses of the fiscal year 2023–2024.
According to officials, money has also been set aside for the construction of Metro rail, infrastructure improvements, and the payment of additional compensation to landowners.
Read More: Housing Prices Rise 20% From 2021 To 2023 Amid Demand Surge: Report
Additional funds allocated are Rs 120 crore for external development projects, Rs 120 crore for internal development projects, and Rs 58.60 crore for building vendor markets, shops, kiosks, and other facilities.
