Noida: New Okhla Industrial Development Authority (Noida) and Yamuna Expressway Industrial Development Authority (YEIDA) on Monday approved a 10 percent hike in land allotment rates in their board meeting.
"Rates have been hiked for Noida and yamuna Expressway. For Greater Noida there was no hike proposal," Noida, Greater Noida and Yamuna Expressway authorities Chairman, Rama Raman said.
The residential sector rates per square meter after hike range from Rs 68,750, Rs 47,920, Rs 34,900, Rs 29,170 and Rs 25,000 for category A,B,C,D and E. YEIDA residential sector rates per sq m after hike is Rs 11,500. Group housing plot rates is Rs 14,000.
"Board has approved residential flats scheme for 2,420 flats at sector 22D. Further YEIDA offices - proposal at Aligarh and Agra, too, have been approved. For staff state government approval will be sought," said PC Gupta, CEO, YEIDA.
Other major important decision by three boards was approval to UP Apartment act and its implementation in three cities of Noida, Greater Noida and Yamuna expressway area.
The builders will be more accountable and transparency will be brought in builder allotments.
Further boards have approved 10.21 percent hike in land compensation of Noida, Greater Noida and Yamuna Expressway areas.
Board has cleared the way of removing traffic jam at sector 37 on DSC road in Chhalera area where shops along the road were hindrance in widening of the road.
Board has approved allotment of 3,500 square meter land at alternate site to five owners of these shops.
Noida Board has sanctioned payment of hiked compensation of 64.7 percent to farmers whose land was acquired between March 18, 2009 and March 31, 2014 as well.
This will add extra burden of Rs 400 crore on authority. Noida has already paid hiked to farmers whose land was acquired between 2003 and March 17, 2009.
Earlier at the last board meeting, payment of 64.7 percent was approved even to all farmers whose land acquisition is done by direct purchase after April 1, 2014.
Greater Noida Industrial Development Authority board has approved the amendments in the Noida and Greater Noida Metro projects.
For speedy implementation of the Metro project GNIDA will seek state government approval for financial issues and central government nod for extension of Delhi Metro to Greater Noida.
