Bad news for property buyers! Noida residential land rates hiked by 14.19%
Land rate in A category highly-developed residential sectors has been enhanced from Rs 68,750 to Rs 81,400 per square meter.
Noida: Residential land rates in Noida is set to go up. New Okhla Industrial Development Authority (NOIDA) Board at its meeting has given approval for a 14.19 percent hike in land allotment rates. All land rates are rupee per square meter.
Commercial land rates were, however, not hiked.
Residential land rates in category E newly-developed sectors have been hiked from Rs.25,000 to Rs.29,600.
For category D residential sectors, the increase is from Rs. 29,170 to Rs.34,540.
C category residential sectors rates has been hiked to Rs. 41,320 from Rs.34,900 and in B category the hike is from Rs. 47,920 to Rs.56,740.
Land rate in A category highly-developed residential sectors has been enhanced from Rs 68,750 to Rs 81,400.
For group housing, the minimum reserved price which was between Rs.35,420 and Rs.93,750 depending on the category of sectors the rate has been raised to Rs.41,940 to Rs. 111,000
Institutional land rates for R&D, film studio, IT, ITES in sector 1,16A and sector 24 has been hiked from Rs.37,500 to Rs.44,400.
In Phase 2 and phase 3 areas, the increase is from Rs. 13,550 to Rs.16,040.
For Bio Tech Park, the hike is from Rs.10,240 to Rs. 12,120.
For Telecom Centre and post office and super bazaar, milk,vegetable and fruit centres, land allotment rates has been raised from Rs.7,300 to Rs.8,640.
Land rates of farm houses on agriculture land has been enhanced from Rs.5,525 to Rs.6,540.
Industrial sector rates in phase 1 has been pushed up from Rs.22,640 to Rs.26,810.
In Phase 2, the hike is from Rs. 8,060 to Rs.9,540.
In phase 3, the increase is from Rs.8,350 to Rs.9,890
Authority has also regrouped sectors in categories.
Category A sectors include sector 14, 14A, 15A, 17, 30, 35, 36,39,44,50,51 and 52.
B category sectors are sector 15,19,20,21,23,25 to 29, 31,33,34,37,40,41,46,47,48,49,53,55,56,61,62,82,92,93,93A,93B, 96,97,98,99,100,105,108 and 122.
Category C sectors include sector 11,12,22,42,43,45, 70 to 78, 104, 107, 110, 119, 120, 121, 128, 129, 130, 131, 133, 134, 135,137,143,143B,144,151 and 168.
Category D sectors are sector 63A,86,112,113,116,117 and 118.
Category E sectors are sector 102,115,158,162 and other remaining sectors.