The UP government has received a stamp duty of Rs 56 crore from this deal. (Representational Image)
IKEA first retail outlet in Uttar Pradesh: The Swedish company Ikea (IKEA), a furniture maker, has been given a plot of 50,000 sqm in Noida. The company will start its retail outlet in Uttar Pradesh on this plot. Officials said that the UP government has received a payment of Rs 850 crore for this plot. Officials said that this plot is located in Noida Sector 51. IKEA has paid Rs 850 crore to the Noida Authority in lieu of this commercial plot. This plot was given to the company at a program here. Uttar Pradesh Chief Minister Yogi Adityanath and Cabinet Minister Satish Mahana participated in the program through a video conference from Lucknow.
Noida Authority’s Chief Executive Officer (CEO) Ritu Maheshwari tweeted, “Authority has received 850 crores in lieu of plot. IKEA will invest about Rs 5,000 crore in its project in the next seven years. This will create employment opportunities. ” According to the UP government, this project will create about 2000 new employment opportunities.
UP government gets 56 crore stamp duty
Noida Authority said that Ikea India CEO Peter Betzel, CFO Preet Dhupar and UP Chief Secretary RK Tiwari attended the event, among others. The UP government has received a stamp duty of Rs 56 crore.
CEO Ritu Maheshwari told, “Today, Noida Authority and Ingka Centers India Pvt. Ltd. under the land transfer ceremony. (IKEA), there was a mutual exchange of lease documents and possession transfer papers of the plot in the presence of Central Chief Minister Yogi Adityanath and Industrial Development Minister Satish Mahana. ”
The agreement was reached in December 2018
You know, IKEA had entered into an agreement with the UP government. Under this, it was decided to invest Rs 5,000 crore in Noida and other cities of the state. IKEA plans to open a total of 25 outlets in India by 2025. There will be an investment of about Rs 10,500 crore. About half of this investment will be in Uttar Pradesh alone.