IKEA, UP ink MoU for Noida outlet
The Uttar Pradesh authorities on Friday signed a Memorandum of Understanding (MoU) with IKEA for funding of Rs 5,500 crore within the state over the following 5 years. The authorities claimed that IKEA was going to arrange its largest outlet in India in Noida.
The state has offered 50,000 sq. metre of land in Noida for the outlet. An official spokesperson stated the corporate has already made a fee of Rs 850 crore for the land in Noida, of which the state has earned income of Rs 60 crore as approach of stamp responsibility.