Noida authority on Wednesday gave its nod to mixed land use policy thus allowing commercial activities in residential sectors. The move is likely to result in property boom in the city. As per the proposal, the authority will allow commercial activities in residential areas having roads of width of 24 metres or above. This will pave the way for activities like hospitals, banks, schools, ATM kiosks, Guest Houses and other business premises, which were closed after Supreme Court’s order earlier.
As per the proposal, it will be mandatory to provide parking facility for at least six motor vehicles on the premises and will have to seek fresh permission from competent authorities. Several properties, which were sealed for running business activities in residential Sectors 1, 2, 5, 6, 8 10, 19, 22, 27 after the Supreme Court order would be allowed to function once again. Besides, the three industrial development authorities also announced multitude of developmental projects in the region.
Rama Raman, Chairman of all three authorities, while presenting budget of Rs 19, 653 crore for the next financial year, said that half of the amount will be spent on infrastructure development and the emphasis will be on Metro expansion. Noida Authority will spend Rs 1,500 crore while Greater Noida Authority will spend Rs 300 crore. Both authorities sanctioned Rs 252 crore on medical infrastructure and Rs 275 crore on sewer and water network. On power infrastructure, Noida Authority will allocate Rs 500 crore.
“As people are attracting towards Gautambudh Nagar, it is the need of the hour to develop the infrastructure of the city. We have announced various projects which will come on surface with in certain time frame,” said Raman.