Board irons out development bottlenecks
Jan 12, 2013, 01.41AM IST TNN

NOIDA: Several development projects were approved in the joint board meeting of the Noida, Greater Noida and Yamuna Expressway authorities on Friday. Even though the main focus remained on boosting connectivity and developing industrial clusters, the authorities even attempted to pacify agitating farmers by amending provisions related to land acquisition.

Noida Authority CEO Sanjeev Saran said rapid population growth has led to an urgent need to improve the transportation system. An additional 170 buses, including 20 semi low-floor buses and 50 feeder vehicles, will be started at the cost of Rs 40.5 crore. "The Authority will develop the city bus terminal in Sector 82 on 3.9 hectare with world-class infrastructure," he said.

Concerned over rampant accidents on Noida-Greater Noida Expressway, an Rs 15 crore Intelligent Transport System (ITS) will be installed to monitor and manage traffic flow.

To counter farmers' agitation, the board passed several amendments in the provisions to sort out abadi regularization, disbursement of developed land, enhanced compensation and inherited and non-inherited property issues.

"The land in Gautam Budh Nagar district was acquired in three phase in 1976, 1979 and 1997. Earlier, those farmers whose land was acquired in 1976 were eligible to get 5% abadi land, while those whose land was acquired between 1979 and 1997 were kept out of pool. The board has approved to grant abadi land to these farmers too," said Rajesh Prakash, administrative officer, Noida Authority.

"The minimum size of developed plots to be given to farmers whose land was acquired will be 40sq.mtr. The 5% developed plots will also be given to those farmers who were found eligible for plots below 40sq.mtr," Prakash added.

Around Rs 650 crore has already been disbursed towards enhanced compensation to farmers and the board has approved another Rs 450 crore. For village development work, the engineering department will not need approval from the land records department now.

The number of highrises in the city is expected to increase in the next two years, so there is a need of updated fire safety infrastructure. "The Authority will buy 72m hydraulic machines in case of fires in highrises," Saran said. A 1MW solar power plant will be developed on a 5 acre plot over the Sector 135-152 irrigation drain mainly for streetlights.

NOIDA: Several development projects were approved in the joint board meeting of the Noida, Greater Noida and Yamuna Expressway authorities on Friday. Even though the main focus remained on boosting connectivity and developing industrial clusters, the authorities even attempted to pacify agitating farmers by amending provisions related to land acquisition.

Noida Authority CEO Sanjeev Saran said rapid population growth has led to an urgent need to improve the transportation system. An additional 170 buses, including 20 semi low-floor buses and 50 feeder vehicles, will be started at the cost of Rs 40.5 crore. "The Authority will develop the city bus terminal in Sector 82 on 3.9 hectare with world-class infrastructure," he said.

Concerned over rampant accidents on Noida-Greater Noida Expressway, an Rs 15 crore Intelligent Transport System (ITS) will be installed to monitor and manage traffic flow.

To counter farmers' agitation, the board passed several amendments in the provisions to sort out abadi regularization, disbursement of developed land, enhanced compensation and inherited and non-inherited property issues.

"The land in Gautam Budh Nagar district was acquired in three phase in 1976, 1979 and 1997. Earlier, those farmers whose land was acquired in 1976 were eligible to get 5% abadi land, while those whose land was acquired between 1979 and 1997 were kept out of pool. The board has approved to grant abadi land to these farmers too," said Rajesh Prakash, administrative officer, Noida Authority.

"The minimum size of developed plots to be given to farmers whose land was acquired will be 40sq.mtr. The 5% developed plots will also be given to those farmers who were found eligible for plots below 40sq.mtr," Prakash added.

Around Rs 650 crore has already been disbursed towards enhanced compensation to farmers and the board has approved another Rs 450 crore. For village development work, the engineering department will not need approval from the land records department now.

The number of highrises in the city is expected to increase in the next two years, so there is a need of updated fire safety infrastructure. "The Authority will buy 72m hydraulic machines in case of fires in highrises," Saran said. A 1MW solar power plant will be developed on a 5 acre plot over the Sector 135-152 irrigation drain mainly for streetlights.
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  • Stupid question........ is there no Real Estate Development Regulatory Authority in Delhi NCR?

    From all accounts, seems to be merry chaos in the business.
    CommentQuote
  • It will probably be like the shopping channels. Loud and super irritating and probably all lies.
    CommentQuote
  • I am an investor with Wave City Center. It seems finally constructions has picked up some momentum. Aug construction update just came in. I have high hopes on this over next 5 years time.
    CommentQuote
  • Raojee - there is no real estate regulator in the country
    CommentQuote
  • Dear Veterans and Gyanis.... If someone has around 15 lacs what best advice would you give them?
    CommentQuote
  • What so ever rate of intrest bank is offering + days scheme ...you will not get more then 7% rest will be cut down in tax only.....
    CommentQuote
  • Originally Posted by Raojee
    Dear Veterans and Gyanis.... If someone has around 15 lacs what best advice would you give them?


    You can also try gilt funds. They invest in government bonds and their returns are inversely correlated to bank rates. Any reduction by RBI in repo rate increases the yield in long term gilt funds.
    CommentQuote
  • Company FDs - AAA rated - Mahindra, TATA etc
    CommentQuote
  • Wow...thanks people. Interesting...
    CommentQuote
  • Intex plant coming up in greater noida
    Attachments:
    CommentQuote
  • Google Earth is updated for Noida
    CommentQuote
  • There was an article in HT today that govt is expecting to register 30,000 properties in navaratra period as about 16 projects are given OC.

    If this happens, then it will be a good measure on gauging the end user interest in NOIDA.
    CommentQuote
  • Whether article also list out projects which have been given OC.
    CommentQuote
  • Originally Posted by ANDY06
    Whether article also list out projects which have been given OC.


    Nope.
    CommentQuote
  • Originally Posted by Raojee
    Dear Veterans and Gyanis.... If someone has around 15 lacs what best advice would you give them?


    Anything but not an Under Construction Property.
    CommentQuote