Noida Authority raises land rates for residential AC-grade plots by 20%, some industrial-grade plots by 30%

The Noida Authority decided to increase land rates for industrial and residential grade plots at its 25th council meeting held on Thursday. About 20 agendas were discussed and submitted to the board, officials said.

In a press release issued by the authority, the cost of purchasing Category E residential land with a land rate of Rs 41,250 and the land rate of Category AC sectors have been increased by land in sectors falling under category A+ remains unchanged at Rs 1,75,000 per square meter. The property rate for multi-unit housing projects has been increased by 20%. Land rates for parcels that fall under the institutional use category and are not tied to resident land rates have been increased by 20%. The rate of industrial-grade plots in Phase I and Phase III has been increased by 20%, and industrial-grade plots in Phase III will see an increase of 30%.

The Noida Authority had provided approximately 500 hectares of land located in Sectors 128, 129, 133, 134 and 151 to Yamuna Expressway Industrial Development Authority for the development of LFD-1 between 2003 and 2011. This land was leased to Jaypee Infrastructure for development through a concession agreement. The deadline for development projects undertaken by Jaypee infrastructure has been set as December 31, 2025 in cases where the date is not fixed in the concession contract. With regard to projects whose deadline expired before March 31, 2022, a deadline extension fee will be applicable on these projects from April 1, 2022.