Thursday, Oct 06, 2022
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Property Prices To Rise In Noida As Authority Hikes Rates

The Noida Authority has decided to revise land rates, finalise scheme brochure for industrial, institutional (IT/ITES), group housing and residential properties to attract investment in the region

Representational image for real estate

Property rates in Noida are set to rise as the Noida Authority has decided to revise land rates upwards by 20-30 per cent across several categories. The decision was taken at a meeting chaired by Chairman of Noida Authority Arvind Kumar on Thursday.

The Noida Authority has decided to revise land rates, finalise scheme brochure for industrial, institutional (IT/ITES), group housing and residential properties to attract investment in the region.

The Noida Authority has divided the city into six categories on the basis of residential properties. Category A+ includes A and B blocks of sector 14A, 15A and 44 and the rate for category A+ has been kept unchanged at Rs 1.75 lakh per square meter, Mint reported citing an official statement.

The competent body has increased property rates in India of category A and D by 20 per cent and rate for category E has been raised to Rs Rs 41,250 per square meter from Rs 36,200 earlier. Rates for group housing societies have been hiked by 20 per cent and industrial property price has increased by 30 per cent in Noida Phase 2.

The Noida Authority cleared the allocation shops and office spaces in Biodiversity, Medicinal Park Sector 91, Express View Park Sector 93, Shaheed Bhagat Singh Park Sector 150 and City Bus Terminal Sector 82.

It also cleared a scheme related to e-auctioning of CNG, petrol and e-charging pumps in various sectors across Noida.

Encouraged by the success of previous housing one time settlement (OTS) scheme, the Authority re-launched the scheme and applications under the scheme can begin from September 1 and policy related to development of data centers in previously allocated industrial properties was also approved.
 

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