Noida Authority to examine interstate financial models for upcoming township project

The Noida Authority has announced its intention to undertake a comprehensive assessment of diverse financial models from states including Gujarat, Haryana, Delhi, and Rajasthan. This initiative is geared towards informing its strategy for land acquisition in the anticipated Dadri-Noida-Ghaziabad Investment Region (DNGIR).

This research mission, entrusted to the Noida Authority's planning team, signifies the organization's commitment to informed and strategic land acquisition. Officials disclosed that the planning department's general manager will spearhead this expedition, subsequently delivering a report on the evaluated financial models. Upon completion, the report will be presented to the state government for review and endorsement. The Authority's CEO, Ritu Maheshwari, affirmed the critical role of the study in shaping their land acquisition approach.

The master plan for the DNGIR, crafted by the School of Planning and Architecture, awaits the Authority board's approval. Nevertheless, the Authority has expressed specific reservations about the DNGIR's financial model, thereby necessitating this exploratory research into alternative models.

The Authority's vision encompasses the phased development of industrial units across 8,811 hectares out of the region's total 21,000 hectares. The first phase, requiring an investment of over Rs 8,500 crore for infrastructure development on 3,000 hectares, is projected to spur a cumulative investment of Rs 40,000 crore in the area. It is anticipated to generate employment opportunities for over 50,000 individuals.

The Noida Authority has earmarked Rs 1,000 crore this year for land acquisition and internal development in the DNGIR. This provision will substantially meet the land requirements of the Authority for the Memoranda of Understanding (MoUs) inked during the UP Global Investors Summit in February. The master plan is expected to be tabled at the Authority's forthcoming board meeting.

In conclusion, as the Noida Authority embarks on a comprehensive review of interstate financial models, this bold move signals a proactive approach towards informed decision-making in land acquisition for the DNGIR. The initiative, complemented by the Authority's financial commitments, is poised to spur significant economic growth and job creation, underpinning the importance of strategic planning in regional development.

Next (Noida Authority allocates Rs 500 crores for land acquisition amidst ongoing encroachment issues)

Noida Authority to examine interstate financial models for upcoming township project

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