Noida authority will hold a meeting on August 11 to raise property rates

Buying land and houses in Noida can be expensive as the Noida Authority will hold a meeting on August 11 to discuss allotment rates for any type of land. The Noida Authority will hold its 205th Board Meeting tomorrow.

The Noida Authority will hold its 205th board meeting on August 11. (Picture: Representative)

STRONG POINTS

  • Noida Authority will hold a meeting on August 11 to raise property rates.
  • The meeting will begin at 11 a.m. and approximately 35 proposals will be presented to the board members.
  • The Noida Authority plans to increase the allotment rate in the residential segment up to 20%.

Buying land and houses in Noida can be expensive as the Noida Authority will hold a meeting on August 11 to discuss the allotment rates for any type of land in Noida. According to officials, buying land can cost 20-30% more.

The Noida Authority will hold its 205th board meeting on August 11.

The meeting will begin at 11 a.m. and approximately 35 proposals will be presented to council members regarding the development of the city.

In addition to the increase in the price of land, some proposals will be related to the work of the authority.

The Noida Authority plans to increase the allotment rate in the residential segment up to 20%. Currently, the most expensive land rates for group accommodation in Noida are in Category A with an allotment rate of Rs 1,35,750 per sqm.

Meanwhile, the allotment rate of Rs 51,290 per square meter is in Category E.

A proposal will be presented to make IT-IT assets more expensive by 30% in phase II and by 20% in the remaining phases 1 and 3.

Earlier in the board meeting on September 27, 2019 in Noida, land rates were increased only in the E category of the residential segment.

In 2020, some sectors were included, creating a new A+ category.

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