Greater Noida Authority raises minimum purchase price for residential and agricultural land

GNIDA also announced an increase of approximately 5,000 to 7,000 per square meter in tariffs for residential areas of Greater Noida.

Prices for industrial and commercial land have also been increased, but the new rates will be notified soon, he said.

The decision, announced after the 126th GNIDA Board Meeting held in Greater Noida on Tuesday, would benefit thousands of landowners in villages under its notified area.

Nearly 300 villages lie within the notified area of ​​GNIDA, which was established in 1991 and falls under the Department of Infrastructure and Industries of Uttar Pradesh.

“During the board meeting chaired by GNIDA Chairman and UP Industrial Development Commissioner Sanjeev Mittal, a proposal was made by GNIDA CEO Narendra Bhooshan to raise the price of buying land directly from farmers,” an official statement read.

“The council accepted it and increased the purchase price of 250 per square meter from 3,500 per square meter at 3,750 per square meter,” he added.

The price of buying land directly from farmers in villages under GNIDA was set at 3,500 per square meter in 2016.

For residential areas have been divided into four separate categories – A, B, C and D. The new rates per square meter of land will be 39,000 for category A, 36,000 for category B, 34,000 for category C and 29,000 for category D, specifies the GNIDA.

The old prices per square meter were 33,300 for category A, 31,250 for category B, 27,088 for category C and 24,060 for category D, he added.

Sectors Alpha 1, 2, Beta 1, 2, Gamma 1, 2, Delta 1, 2, 3 and Swarn Nagri belong to category A.

Sectors CHI 2, CHI 3, CHI 4, CHI 5, CHI-PHI EXT. P 1, P 2, P 3, P 4, P 5, P 6, P 7, P 8, PI 1, PI 2, PHI 1, PHI 2, PHI 3, PHI 4, PHI-CHI, Sector-36 and Sector-37, Sector 2, 3 are in category B.

Category C includes sectors Eta 1, Omicorn 1, 1A, 2 and 3, XU 1, 2 and 3, Zeta 1 and 2, MU 1 and 2, Sigma 1, 2, 3 and 4; while Category D includes Sectors 1, 11, 12, 16, 4, 16C, 17, 20 and the Sector-Tech zone, GNIDA said.

Bhooshan said investor interest in industrial investment in Greater Noida is growing rapidly with companies not only from the country but also from abroad asking for land to set up industries.

“GNIDA is trying to develop the industrial sectors by buying land from farmers, so that industrial investments can further increase and employment opportunities can be created for young people. From April 1, 2022, it has been decided to ‘buy land from farmers at the new rate,’ he added PTI KIS RAM BAL

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