Noida Authority’s proposed plan to introduce mixed land use policy in residential area may lead to property boom in the city. In next board meeting on November 29, Authority is likely to go ahead finalising the proposal. As per the proposal, the Authority will allow commercial and industrial activities in residential areas with a width of 18 metre and above. The move will pave the way for reopening of hospitals, banks, schools and other business premises, which were closed after Supreme Court’s order.
The approval will come with a caveat. The owner of the plot will have to provide parking facility for at least six vehicles and will have to seek fresh permission from competent authorities. The move will also help in increasing revenue of Noida Authority as the occupants will have to pay property tax with commercial value instead of residential value. The Authority had sealed business activities in Sectors 1, 2, 5, 6, 8 10, 19, 22, 27, which would resume with the proposed policy. The apex court had ordered Noida Authority to do so in absence of policy as per norms laid by Town and Country Wing of Urban Development Ministry. Around 1,000 small industries, which supply raw materials to the industries of Noida and Greater Noida will also benefit from the move as they have been trapped in the sealing drive for long.
According to a senior official, the Authority has been planning to introduce the policy since long keeping in view closure of commercial activities like banks, schools, hospitals, nursing homes, small industries, coaching centres, guest accommodations, private guest houses, eating joints and various kinds of shops after an order from Supreme Court in year 2012.