Buying land in Noida becomes more costly as allotment rates hiked by 6%

Noida authority raises land allotment rates by six percent across categories except commercial plots. Check details below

Buying land in Noida has become costlier as the Noida Authority decided to raise land allotment rates by six per cent in all categories except the commercial and corporate house plots, it was reported. The rates have been raised amid rising inflation and the Noida Authority has almost around 50 land parcels measuring approximately 17,500 square metres (sqm) across categories A, B, and C for residential use.

The hike in land allotment rates comes after the board meeting of the Noida Authority in Lucknow where the decision was taken.

The hike in land allotment rates comes after the board meeting of the Noida Authority in Lucknow where the decision was taken as well as the ₹7,700 crore budget for financial year 2024-25 was approved, the report added.

Presently, Noida is divided into six categories for residential land allotment: A+, A, B, C, D, and E. For residential plots, the Noida Authority has increased the prevailing rates for sectors in categories A to E by six percent but the rate for A-plus category residential plots will remain unchanged at ₹1.75 lakh per square metre (sqm).

The Noida Authority last increased rates in April 2023. At the time, land rates were hiked by 6-10 percent across categories.