1. Noida Authority raises land allotment rates by 6%, excluding commercial plots.
2. The increase affects around 50 residential land parcels totalling 17,500 sqm.
3. The decision comes amid rising inflation.
Noida, July 17: Buying land in Noida has become more expensive as the Noida Authority has decided to raise land allotment rates by six percent across all categories, except for commercial and corporate house plots.
This increase comes amid rising inflation and impacts approximately 50 land parcels, totaling around 17,500 square meters (sqm) for residential use, according to sources.
The decision to hike the rates was made during a Noida Authority board meeting in Lucknow, where the ₹7,700 crore budget for the financial year 2024-25 was also approved.
Noida is divided into six categories for residential land allotment: A+, A, B, C, D, and E.
The rates for categories A to E have been increased by six percent, while the rate for A+ category residential plots remains unchanged at ₹1.75 lakh per sqm.
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Specifically, in the A category sectors (14, 17, 19, 30, 35, 36, 39, 44, 47, 50, 51, 52, 93, 93A, and 93B), the land rates have risen to ₹1.25 lakh per sqm from the previous ₹1.18 lakh per sqm.
In categories B, C, D, and E, the rates now range from ₹87,370 to ₹48,110 per sqm, up from ₹82,420 to ₹45,380 per sqm.
For group housing properties and plots, the rates have increased from ₹1.09 lakh per sqm to ₹69,170 per sqm, up from ₹1.18 lakh per sqm to ₹65,250 per sqm.
This is the second rate increase by the Noida Authority in less than a year, with the previous hike occurring in April 2023, when land rates were raised by 6-10 percent across various categories.
