The final time the Authority had elevated charges was August 2022. (Representative picture)
The charges for the A-plus class have remained unchanged at Rs 1,75,000 per sqm.
Noida Land Prices: At the 209th board assembly of New Okhla Industrial Development Authority (NOIDA) on April 23, the federal government physique has determined to hike land charges by 6-10% throughout classes, whereas the charges for the A-plus class have remained unchanged.
Noida was constituted beneath the UP Industrial Area Development Act, 1976.
According to a report by Moneycontrol, the Authority revised the land allotment charges for industrial plots, IT parks, ITES plots, and knowledge centres by 6%.
Similarly, the Authority has elevated the group housing charges by 6%, the Authority mentioned in a press release after the assembly. Earlier, plots for group housing initiatives had been priced between Rs 61,000 and Rs 1.5 lakh per sq. metre (sqm), the report mentioned.
The Authority additionally elevated the costs of A to D class plots (priced between Rs 46,800 to Rs 1.11 lakh per sqm) by 6%.
Land allotment charges in E class sectors have been revised upwards by 10% to Rs 45,375 per sqm from Rs 41,250 per sqm earlier, the Authority famous.
The charges for the A-plus class have remained unchanged at Rs 1,75,000 per sqm.
Reportedly, the Authority famous that an upward revision in land allotment charges was crucial due to inflation. It mentioned that the Authority had seen a 5-6% enhance in land prices, therefore it had determined to hike the land allotment charges.
The final time the Authority had elevated charges was August 2022.
Moreover, the Authority has authorised a finances of Rs 6,920 crore for the monetary yr 2023-24.
Meanwhile, in a latest report by knowledge analytic agency PropEquity, unsold shares in Noida dipped 7% to six,843 models from 7,371 models within the first three months of 2023, whereas in Ghaziabad fell 8% to 11,542 models from 12,614 models. In Greater Noida, unsold inventories fell 5% to 23,865 models from 25,241 models.
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