NOIDA: The Noida Authority is working on plans to repurpose underutilized infrastructure projects to generate additional revenue, officials said. The initiative aims to maximize public investment and reinvest funds into the city’s development.
Two major projects identified for transformation include the multilevel parking facility in Sector 18, built at a cost of Rs 243 crore, and the Rs 158-crore bus terminal in Sector 82, as published by The Economic Times.
“These projects have remained underutilized for various reasons. We cannot afford to waste public funds. So, we have decided to repurpose them and generate revenue that can be reinvested for the city’s development,” said Noida Authority CEO Lokesh M.
The Authority plans to retain the ground floor of the Sector 82 bus terminal for bus operations while converting the upper floors into corporate offices or healthcare facilities. Several hospitals have expressed interest, but no agreements have been finalized, officials said.
“We’ve made it clear that bus operations will continue from the ground floor. Any new occupant will need to accommodate this arrangement,” Lokesh M said.
The ground floor will also house charging stations for electric buses, which are set to be introduced into the city’s transportation network soon.
The terminal, which spans 7.5 acres near the Bhangel elevated road, was constructed in 2021 as an integrated commercial and transport hub. It features eight floors, space for 40 buses, and additional facilities such as food courts, ATM kiosks, passenger accommodations, and a cyber café.
Currently, the terminal serves only five Uttar Pradesh Roadways buses operating on routes to Dadri, Pari Chowk, and Bulandshahr.
Previous attempts to lease commercial spaces at the terminal to government offices and businesses have been unsuccessful. In April 2023, an effort to engage a management agency with an expected monthly rental income of Rs 85 lakh failed. An expression of interest was issued in November last year to identify potential partners for optimizing the facility’s usage.
The multilevel parking facility in Sector 18, designed to accommodate 3,000 vehicles, remains largely vacant. Low occupancy has been attributed to the availability of surface parking options and competing facilities at nearby malls and hotels. The parking structure’s distance from major shopping areas has also contributed to its underuse.
To address the issue, the Authority is exploring the possibility of converting the rooftop into a hotel or restaurant space to attract more foot traffic.
Officials said the Authority remains committed to optimizing these assets and ensuring public funds are utilized efficiently. Further details on the repurposing efforts are expected to be finalized in the coming months.