Noida, Greater Noida and the Yamuna Expressway regions are becoming a preferred choice for domestic and global investors as Gautam Buddh Nagar bagged highest amount of investments among districts across the state during Uttar Pradesh Ground Breaking Ceremony (GBC), which is being held in Lucknow.
The Gautam Buddh Nagar district signed MOUs for over 1,350 projects worth Rs 2.95 lakh crore, 29.5 percent of the total investment across the state, officials aware of the matter told Moneycontrol.
The three Authorities of the city — Noida Authority, Greater Noida Authority and Yamuna Expressway Industrial Development Authority— together bagged investments of over Rs 1.8 lakh crore. According to officials, investors are flocking to Gautam Buddh Nagar, especially the YEIDA and Greater Noida region, in view of the upcoming Noida International Airport in Jewar and the Film City project.
Officials said that projects worth Rs 2.95 lakh crore will be rolled out in different sectors such as data centre, housing, commercial, retail, IT and Electronics, aviation, MSME among others in the district in coming years.
Prime Minister Narendra Modi on February 19 rolled out projects worth more than Rs 10 lakh crore in Uttar Pradesh at the fourth groundbreaking ceremony in Lucknow. These projects are aimed at creating 3.35 million jobs in the different cities.
“Gautam Buddh Nagar district got the lion’s share in the fourth groundbreaking ceremony as it bagged investment proposals worth Rs 2.95 lakh crore, the highest among districts across the state. The entire state got Rs 10 lakh crore investment proposals, of which 29.5 percent will be established in Gautam Buddh Nagar,” Anil Kumar, deputy commissioner (industries), told Moneycontrol.
Kumar said that investment proposals were signed for around 1377 projects where a number of domestic and international companies have evinced interest in investing in sectors such as industry, manufacturing, real estate, commercial, retail, logistics and services in Noida, Greater Noida and Yamuna Expressway regions.
Real estate, retail investments
According to officials, investments worth over Rs 1.5 lakh crore will be done in the region by companies in real estate, retail, logistics, industry, commercial sectors.
Officials said that among real estate players M3M India has proposed to invest Rs 7,500 crore, while Ikea (INGKA group) has promised an investment of Rs 4,300 crore in Noida. Similarly, Godrej Properties has proposed an investment of over Rs 2,400 crore in the region.
Other major investors in the real estate, retail and commercial sectors that pledged investments in the region include Theme County (Rs 5,200 crore), Clearlake (Rs 4,000 crore), Fairfox Infra (Rs 2,000 crore), Roseberry Estate (Rs 2,000 crore), Mahagun Infratech (Rs 1,800 crore), Home and Soul Infratech Private Ltd (Rs 1,400 crore) and Canciller Consultancy (Rs 1,200 crore) among others, officials said.
Bollywood filmmaker Boney Kapoor’s Bayview and Noida-based Butani Infra have pledged to develop the Uttar Pradesh government’s International Film City project, spread on 1,000 acres, by investing around Rs 1,000 crore to Rs 1,500 crore. The Film City project was showcased at the groundbreaking ceremony.
Also Read: Boney Kapoor’s Bayview to develop Uttar Pradesh govt's International Film City
Officials in Greater Noida and Yamuna Expressway Industrial Development Authorities said that the data centre sector also attracted investors. The region is set to get at least five new data centre with an investment of around Rs 50,000 crore.
In the Yamuna Expressway area, Vivo will set up a manufacturing unit. In the IT sector, Advance Compusoft has launched an IT and commercial park in Greater Noida’s Techzone 4, on 25 acres after investing Rs 1,000 crore. Bhutani Grandthum has also proposed to invest Rs 1000 crore in sector Techzone 4.
In Greater Noida, Dixon Group will invest Rs 500 crore, and Hair in its expansion project will invest Rs 640 crore, Addverb, a global robotics and automation company, has pledged to invest Rs 500 crore, officials said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!