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In Noida, buying residential, industrial and institutional have become more expensive as the authority has decided to increase the property rates by over 20% for several categories. The Noida Authority has taken this decision in the 205th board meeting, held by Chairman Arvind Kumar on Thursday.

In the meeting, various decisions regarding policy related matters and people were taken yesterday. These include revision of land allotment rates, finalization of scheme brochure for Industrial, institutional (IT/ITES), group housing and residential properties to attract investment in the region.

Take a look at latest revisions in Noida land rates, 

1) This time, the Noida Authority has decided to increase the land rates by 20-30% for several categories, while the rates for the A+ category have remained unchanged at 1,75,000 per sq m.

2) It has hiked the prices of category A to D category by 20% and E category to 41,250 per sq m from earlier 36,200, along with an increase of 20% in group housing property rates.

3) The rates for industrial properties has been increased by 30% in phase 2, and 20% hike for phase 1 and 3 properties, that are not linked to residential areas. In September 2019, the property rates were increased only for Category E residential areas.

4) In the meeting, it has been decided to provide time extension of six months to allotters in the wake of Covid-19 global pandemic. The board said that extension charges for residential and group housing properties have been rationalized and capped at 10%.

5) It also added that the leaser property holders of the residential, industrial, institutional and IT-ITES categories will be given 2% rebate, if they opt for a lump-sum payment within the stipulated time.

6) The authority has also decided to re-invite the applications under the previous Housing OTS scheme (September 2019) and the policy related to development of data centers in previously allocated industrial properties has been approved.

7) For group housing plots, the authority has now made it compulsory for the consortium members to maintain 100% shareholding till they take possession. After the allotment of plot, it will be required to deposit entire premium within 90 days.

8) It has also decided to end the 2.5% transfer fee in case of passing on the land between brother-sister, brother-brother, and sister-sister as well as to brothers/sisters from blood relations, according to an official statement issued by the Noida authority.

9) The Noida authority also stated that allocation of shops in Biodiversity, Medicinal Park (sector-91), Express View Park (sector-93), Shaheed Bhagat Singh Park (sector-150) have also been cleared. Allocation of office space and shops in city bus terminal, sector-82 and the scheme related to e-auctioning of CNG, Petrol and e-Charging pumps in various sectors across Noida shall also be published shortly, it added.

10) With an aim innovation to solve the problems of disposal of city waste and keep it pollution-free, a proposal to develop a ‘waste to wonder’ park based on the theme of ‘Nature Trail of Artificial Zoo’ in sector-94 has also been cleared.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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