Sops to boost IT, ITeS in twin cities

NOIDA: In a bid to boost the IT and ITeS sector that has not taken off in a big way in the twin cities, development authorities have approved several sops for the two industries, including mixed land use for plots measuring 20,000 sq m, and sought the state government's approval for the same.
The decision was taken at a joint board meeting of the three development authorities of Noida, Greater Noida and Yamuna expressway on Monday.The board also fixed rates for green land falling in Hindon river bank area and gave its approval to fast-track several infrastructure projects in the region.
Rama Raman, chairperson and CEO of the three authorities, said the sops were approved taking into consideration the economic slowdown in the IT sector, with more than 400 IT plots allotted in Noida and Greater Noida lying idle.
According to the proposed policy changes, the Noida Authority will provide completion certificates to IT firms if 75% of total floor area ratio (FAR) of plots is built within seven years of allotment. Currently, it is mandatory for an IT company to construct across 100% FAR in five years to get an occupation certificate.
"Moreover, if the state government gives its nod, IT plots measuring 20,000 sq m and above will be able to use certain part of the IT plot for residential as well as commercial purposes. Another policy change, if approved will also allow IT plot owners to sell residential, commercial or institutional space reserved (25%) in their IT plots," he said.
The board also approved the allotment rates for a transport nagar scheme in Noida. The earlier rates of Rs 76,000 per sq m have been revised to Rs 18,180 per sq m. "With an aim to develop a green corridor along the banks of Hindon, we have also fixed rates for land falling in the flood zone area," the CEO said.
This land will now be allotted at a rate of Rs 2,905 per square meter. However, allotment will face strict scrutiny in this area to dissuade misuse and land mafia who dupe innocent public, Raman said, adding, "In future we plan to develop green projects here. Projects could include amusement parks, open air theaters, medicinal parks."
Meanwhile, for Greater Noida, the board addressed farmers' issues, including land acquisition, land compensation, abadi issues, distribution of developed plots and announcement of schemes, besides plans for their rehabilitation. Approvals for pending infrastructure and development projects like the Night Safari, Heliport were sought for fast-tracking by the Greater Noida Authority.
"The board has approved the Detailed Project Report for the Heliport. We will now invite consultants through a Request For Proposal to construct the Rs 50 crore project. The Business Plan for the Night Safari has also received a nod from the board," Raman said.