NOIDA — The Noida Authority approved an ₹8,732 crore budget for fiscal year 2025-26 and raised land allotment rates by 6% across all categories, including residential, commercial, industrial, and institutional, during its board meeting on Friday, as published by Hindustan Times.
The authority, in its 217th board meeting chaired by Uttar Pradesh Chief Secretary Manoj Kumar Singh, who also serves as its chairman, made several key financial decisions. The meeting, held at the authority’s office in Sector 6, was attended by Gautam Budh Nagar District Magistrate Manish Kumar Verma, Greater Noida Authority CEO Ravi Kumar NG, and other officials.
The board set a revenue collection target of ₹9,008 crore for FY 2025-26, with a finalized budget of ₹8,732 crore. The funds have been allocated for various purposes, including ₹2,410 crore for development and construction projects, ₹2,229 crore for civic maintenance, and ₹224 crore for village development.
The authority increased land allotment rates in A to D category residential sectors by up to 6%, while rates for A+ category sectors and commercial properties remain unchanged. The allotment rate for IT/ITES parks and data centers in Sectors 1, 16A, and 24, which are allocated through e-auction, rose from ₹73,220 per square meter to ₹77,613 per square meter.
“The decision to increase land allotment rates was made in consideration of current market conditions. The budget was finalized based on the city’s infrastructure and maintenance needs,” said Noida Authority CEO Lokesh M.
Land allotment rates determine the prices at which the authority sells properties through various schemes to buyers and investors. These rates influence the cost of newly developed residential, group housing, and institutional properties, officials said.
In FY 2024-25, the authority had targeted revenue collection of ₹7,713 crore but managed to collect ₹6,809 crore across various departments.
The board also reviewed progress on stalled housing projects and approved a proposal to construct a new elevated six-lane and eight-lane ground road. The project will connect Kalindi Kunj at the Noida-Delhi border to the Noida-Greater Noida border, facilitating smoother travel between Delhi and Noida International Airport without congestion on Noida city roads.
“This elevated and ground-level road will significantly improve connectivity and ease commuter movement,” Lokesh M added.
The board emphasized that the new infrastructure projects aim to enhance mobility and accommodate the growing demand for improved urban planning in Noida.