Noida hikes IT plot rates by ₹40,000 per sqm, scraps three categories

Vacant IT/ITES plots in Sectors 62, 167 and 98 will be offered at the new uniform rate after a board decision on Saturday.

The allotment rates of Information Technology, and IT-enabled services plots in Noida have been increased by ₹40,000 per square metre, Noida authority said on Monday.

Noida hikes IT plot rates by ₹40,000 per sqm, scraps three categories

The authority is set to issue a fresh tender to sell the vacant IT/ITES plots, which are available in sectors 62, 167 and 98, officials said.

“Until now, the authority had divided the allotment rates into three categories, with allotment rates ranging from ₹30,000 to ₹46,000 per square metre. Now, they have done away with these categories. A decision was made to increase the rate to ₹86,000 per square metre,” said Krishna Karunesh chief executive officer of the Noida authority.

“There will be only one category and rate will be same for all sectors,” an official said.

Officials further said that this change has been implemented with effect from this month, following the board meeting held on Saturday.

“Now the IT/ITES plots will be allotted at the new rate. These properties are specifically designed to meet the needs of tech companies, call centres, and digital businesses,” said another Noida authority official.

The officials said that the authority now has very few plots left in Noida, except for a few parts of Sector-62 and on land along the Noida-Greater Noida Expressway.

Apart from this, there is no land left anywhere to bring up new IT plot schemes. In view of this, a decision was made to remove these plots from the older categories and re-evaluating the rates.