Noida approves Rs 5.8K cr budget for 2019-20

TheNoida authority allocated a total of Rs 5,827 cr in annual budget for the year 2019-20 on Friday, with infrastructure development getting a whopping `2,760 cr. 

Published: 02nd March 2019 10:43 AM  |   Last Updated: 02nd March 2019 10:44 AM   |  A+A-

Budget (Express Illustration)

Budget (Express Illustration)

Express News Service

NOIDA: Noida authority allocated a total of Rs 5,827 cr in annual budget for the year 2019-20 on Friday, with infrastructure development getting a whopping Rs 2,760 cr. Another chunk of Rs 1,175 cr was set aside for maintaining the city. While the Authority allocated Rs 1,069.50 crore for the sanctioned Jewar airport, health, electrical, water and civil works got Rs 251.43 cr, Rs 429.65 cr, Rs 431.13 cr and Rs 1,474.67 cr, respectively. Land acquisition was allocated Rs 625 cr. 

As per officials, Noida will complete construction of infrastructure projects worth Rs 1,423.51 cr by September 30. “Within the next six months, Noida will get additional parking space for nearly 10,000 vehicles in sectors 1, 3 5, 16A and 38A, a city bus terminal in sector 82, a shooting range and multi-purpose indoor stadium in sector 21A and a district hospital in sector 39 among various projects,” said Rajeev Tyagi, General Manager, Projects, Noida.

“We will also construct an underpass along the Faridabad-Noida-Ghaziabad expressway near Behlolpur. This project will come at a cost of Rs 30 crore. This 600-metre long, four-lane facility is expected to reduce the distance between Faridabad and Ghaziabad.” 

The Board has also in-principle approved floor-wise registration of flats on plotted houses in the city. “This proposal will now be forwarded to the UP government for final approval,” said Alok Tandon, Chairman and Chief Executive Officer (CCEO), Noida Authority. Resident welfare associations have long been demanding that the authority should convert the leasehold property status in Noida to freehold.

While under the freehold system, an allottee has outright ownership of the property, thereby making its transfer and sale easier, the government has control over the sale or transfer of a property under the leasehold system. Moreover, as per the leasehold system, the owner has right to call the property his or hers only for 90 years.

The Board decided to partly pay the power bills for those sectors which install fully automatic compost machines. “We will pay 50% in the first year and 25% in the second. This is to encourage residents to deal with their waste. We have also decided to regularize about 10% of allotted area encroached by residents in a few specific sectors after they pay a compounding fee,” Singh said.  

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