The Greater Noida Authority has achieved more than 50% of its investment goal of R 60,000 crore for the planned groundbreaking ceremony for housing, infrastructure industrial, institutional commercial, and commercial projects. Several up to $12,000 crore of projects were in the pipeline, stated Uttar Pradesh Industrial Development Minister Nand Gopal Gupta ‘Nandi.’
He stated that the Uttar Pradesh government intended to launch a groundbreaking ceremony for projects in the amount of more than ten crore.
The Minister of export and industrial development, as well as NRI promotion, stated this after a meeting to review the officials of the Greater Noida Industrial Development Authority (GNIDA), during which he reviewed the inventory of the state of execution of investment plans prior to the ceremony of groundbreaking that will take place on the day of the event, which date is not yet announced.
The sources suggest that it could be held following the celebration of Diwali.
“The state government, during the global investors summit in February this year, had received investment proposals worth Rs 37.50 lakh crore. A mapping of proposals was conducted to figure out the number of proposals areas like Noida, Greater Noida, and Bundelkhand, among others, got. A groundbreaking ceremony will be held for projects worth Rs 10 lakh crore soon. The target for Greater Noida was implementing investment proposals worth Rs 60,000 crore. Of this, we have already achieved investment proposals of Rs 30,000 crore while another Rs 10,000 crore to Rs 12,000 crore is in the pipeline,” the Minister said during an interview with the media.
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Action against defaulters
Gupta further stated that a strict approach will be taken against the biggest non-payers to the Authority who are not able to pay their debts. He also directed officials to make recovery certifications for all major defaulters and pursue the defaulters.
The Minister stated that chief executives from the three agencies, which include Noida, Greater Noida, and Yamuna Expressway Authority (YEIDA), each month on the fifth day of each month, submit monthly progress reports to the Ministry about the progress made by these authorities for development. The Minister said the initiative is designed to make it “accountable and responsive.”
Concerning delays and ambiguities in the approval of maps, The Minister stated that inflexibility among officials could not be tolerated or tolerated. They will also be accountable for their actions.
It is attractive to buy real estate because it provides the feeling of belonging. It also gives the idea that property investment is always profitable. However, one must examine their situation and reflect on the issues raised above. Investments in real estate that are not planned could be costly in the future. Since buying cheap doesn’t always translate to an excellent bargain. The way the investment fits into the larger scheme of things ultimately is more important.