Noida Authority Land Allotment 2024-25: New Rates and Revenue Targets

The Noida Authority has set an ambitious target for the financial year 2024-25, aiming to allot 5.5 lakh square meters of land across various categories, including industrial, commercial, residential, group housing, and institutional plots. This land allocation is projected to generate a revenue of ₹3,795 crore. Despite achieving only 23% of its land allocation target last year, the Authority is determined to meet its new goals.

Key Land Allocation Targets

• Institutional Purposes: 3.3 lakh sqm
• Industrial Use: 1 lakh sqm
• Residential Plots: 67,500 sqm
• Commercial Sector: 35,000 sqm
• Group Housing: 13,800 sqm

Revenue Projections

The Noida Authority land allotment 2024-25 is anticipated to generate substantial revenue from various categories:

• Group Housing: ₹1,080 crore
• Commercial Land: ₹1,010 crore
• Industrial Land: ₹705 crore
• Residential Plots: ₹650 crore
• Institutional Plots: ₹315 crore
• Residential Buildings: ₹35 crore

For residential purposes, the Noida Authority plans to allocate 16 high-income group (HIG) buildings and 4 middle-income group (MIG) buildings. However, no land allocation had been made by June 15 of the current financial year.

Previous Year’s Performance

In the 2023-24 financial year, the Noida Authority faced challenges in meeting its land allocation targets:

• Industrial Plots: 44,005 sqm allotted against a target of 1.5 lakh sqm
• Commercial Sector: 35,002 sqm allotted against a target of 3 lakh sqm
• Group Housing: 26,136 sqm allotted against a target of 70,000 sqm
• Residential Plots: 8,062 sqm allotted against a target of 1.5 lakh sqm
• Residential Buildings: Only 4 buildings allotted against a target of 16

The institutional category was the only one to exceed its target, with 51,297 sqm allotted against a target of 50,000 sqm. Despite these shortfalls, the Noida Authority managed to earn ₹2,763 crore against a target of ₹3,370 crore for the financial year 2023-24.

New Initiatives

To meet the new targets set for the Noida Authority land allotment 2024-25, the Authority has raised allotment rates by 6% across various categories, excluding commercial plots.The focus on institutional land suggests an emphasis on IT/ITES parks, data centers, and educational and research facilities.By strategically focusing on e-auctions and preparing the remaining land for allotment, the Noida Authority aims to maximize land allotments and revenue generation in the upcoming financial year. The Noida Authority land allotment 2024-25 is poised to play a crucial role in the region’s development, driving growth across various sectors. 

Read more: Noida Realtors to Benefit from Additional Dues Waiver Policy

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