Greater Noida, March 29 (AHN) The 138th Board meeting of the Greater Noida Authority concluded on Saturday, where a budget of Rs 5,600 crore for the financial year 2025-26 was approved. The meeting was chaired by Uttar Pradesh Chief Secretary and the Chairman of the Authority, Manoj Kumar Singh.

The budget prioritises land acquisition, development, and construction activities. According to the approved budget, Rs 1,400 crore will be allocated for land acquisition, and Rs 1,973 crore will be given for development projects.

The CEO of the Authority, N.G. Ravi Kumar, said that in response to the demands of industrial investors, the 2025-26 budget focuses on land acquisition. The budget also includes investment in projects such as a stadium in Greater Noida West, a synthetic track at Shaheed Vijay Singh Pathik Sports Complex, Metro construction, vendor markets, hospitals, and health centres.

The Board also approved an average 5 per cent increase in the current rates of industrial, residential, commercial, and institutional properties. This increase is based on market rates and the rates obtained from e-auctions. Under the policy formed on the recommendations of the Amitabh Kant Committee, 77 out of 98 builder projects have benefited. So far, 35,494 flats have been registered, and 40,003 flats have been issued completion certificates.

The plan to develop Shaheed Vijay Singh Pathik Stadium as a Centre for Excellence was also approved, which will provide sports facilities for the public. In view of the growing traffic in Greater Noida West, the Board approved the construction of an elevated road from Sector-4 to NH-24, passing through Shahberi. The estimated cost of this project is Rs 400 crore.

Under the PM Gati Shakti scheme, a cargo terminal will be developed on 260 acres of land near the ICD in Dadri, which will generate over 15,000 employment opportunities.

The Board also approved leasing space for the Employees' Provident Fund Organisation (EPFO), Western Sydney University, and a commercial court in Greater Noida. To strengthen fire services in the region, fire equipment worth Rs 29.48 crore will be purchased, including robot fire trucks, foam tenders, high-rise firefighting vehicles, and other equipment.

Three working women’s hostels will be built in Greater Noida, with land being leased at Rs 1 per year. Empty flats built by the Greater Noida Authority will be rented out to CRPF personnel stationed at the Noida Airport. Some flats will also be allocated to government departments.

In a major relief to flat buyers, the Board decided to suspend the Rs 100 per day penalty for delayed registration for three months.