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In a significant development, Ritu Maheshwari, the dynamic and acclaimed CEO of Noida Authority, has been transferred from her post. Known for her transformative initiatives, Maheshwari has been credited with securing investment proposals worth a staggering Rs 1 lakh crore for the city of Noida during the Uttar Pradesh Global Investors Summit 2023. During his four-year tenure, the Noida Authority achieved almost unprecedented revenue receipts. 7000 crores in the financial year 2022-2023, which is the highest revenue collection in the last 12 years. As soon as his transfer took effect, his remarkable contribution to the development of the city was appreciated by residents and businesses alike.
Key role in securing large scale investment
Maheshwari has been instrumental in securing investment proposals worth Rs 1 lakh crore for the Noida Authority ahead of the Uttar Pradesh Global Investors Summit 2023. During his tenure, the authority achieved revenue receipts of around Rs 7000 crore in the financial year 2022-2023. , which is the highest revenue in the last 12 years.
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Remarkable achievements of four years
Ritu Maheshwari has been actively involved in public service since her inception as Joint Magistrate in Lucknow. Apart from his role as CEO of Noida Authority, he has also served as CEO of Greater Noida Authority and MD of Noida Metro. His four-year tenure as the Chief Executive Officer of the Noida Authority has been marked by several notable achievements.
future investment opportunities
Talking about the future, Ritu Maheshwari revealed that investment proposals worth Rs 55,000 crore are pending, which are expected to materialize in the next 6-7 months. The proposed investments, which account for about 45% of the total pending proposals, are expected to be implemented soon, giving a further boost to the city’s development.
Focused Development of New Noida
Ritu Maheshwari stressed on the importance of allocating more land for development to attract additional entrepreneurs and businesses to New Noida. Despite the challenges of limited availability, he expressed his determination to expand the city’s reach and turn it into an attractive destination for investment.
Records Broken, Revenue Generated
Under his leadership, the Noida Authority achieved a remarkable revenue receipt of around Rs 7000 crore in the financial year 2022-2023. This revenue collection is the highest in the last 12 years, reflecting the successful implementation of various housing, commercial, industrial and institutional projects.
Legal victory for city welfare
Ritu Maheshwari’s tenure saw several legal battles, especially against builders involved in illegal constructions. His efforts resulted in the cancellation of land allotments to entities that failed to comply with the rules, thereby securing the city’s future.
Residents and Businesses Reflect on Her Tenure
Ritu Maheshwari’s transfer has evoked mixed feelings among Noida residents and businesses. Many acknowledge his contribution to the city’s growth and development, while some express concern over his departure from the premiership. However, his achievements during his tenure have left a lasting impact on the city, paving the way for further development and prosperity. As she moves into her new role, the people of Noida look forward to continued progress under the new leadership.
