GREATER NOIDA: The Greater Noida Authority will acquire over 550 hectares of farmland in the city for industrial development. In the first phase, 12 villages have been earmarked from where the land will be acquired from farmers at a mutually agreed rate of Rs 3,500 per sqm, officials said.

Overall, 900 hectares were notified for planned industrial development by GNIDA, of which some 345 hectares have already been acquired.

“While 345 hectares have been acquired till now, the Authority has begun the process of acquiring the remaining 555 hectares from Monday,” said Narendra Bhooshan, CEO of the Greater Noida Authority.

Camps have been set up across 12 villages for acquiring 555 hectares in the first phase and will go on till July 2, the CEO added.

While many international electronics and smartphone manufacturing companies — such as Oppo, Samsung, Vivo, LG and Honda — have already set up industries in Greater Noida, further land acquisition for more such industrial allotments is sought by GNIDA for revenue generation.