Noida Authority hikes land rates after 3 yrs

noida: After a gap of three years, the Noida Authority has revised land rates across all categories, including residential and group housing, effecting a hike of up to 30 per cent, according to officials.

The decision was taken during the 205th board meeting of the New Okhla Industrial Development Authority (NOIDA) on Thursday. The meeting was chaired by Uttar Pradesh industrial development commissioner Arvind Kumar and attended by Noida Authority CEO Ritu Maheshwari, among others.

On determination of land rates for the financial year 2022-23, the Noida Authority said, The land rate of 'E' category sectors of residential plots is Rs 41,250 per square metre, there has been a hike of 20 per cent in 'A' to 'D' category sectors, while those in 'A+' category remained unchanged at Rs 1.75 lakh per sq metre.

Group housing rates have been increased by 20 per cent, while the rate of residential buildings has been kept the same as before, it said in a statement.

A 20 per cent rate increase has been effected in the institutional land category which are not linked to residential properties, the Noida Authority said.