Better Noida authority hikes minimal residential, farm land buy worth

The GNIDA additionally introduced a rise of round 5,000 to 7,000 per sq. metre in charges for residential sectors of Better Noida.

The costs of business and industrial land have additionally been hiked however the brand new charges could be notified quickly, it stated.

The choice, introduced after the 126th board assembly of GNIDA held in Better Noida on Tuesday, would profit hundreds of landowners within the villages falling beneath its notified space.

There are almost 300 villages that fall within the notified space of GNIDA, which was fashioned in 1991 and capabilities beneath the Uttar Pradesh infrastructure and industries division.

“Within the board assembly chaired by GNIDA chairman and UP Industrial Improvement Commissioner Sanjeev Mittal, a proposal was made by GNIDA CEO Narendra Bhooshan to extend the acquisition worth for purchasing land instantly from the farmers,” an official assertion stated.

“The board accepted it and elevated the acquisition worth by 250 per sq. metre from 3,500 per sq. metre to 3,750 per sq. metre,” it added.

The acquisition worth for purchasing land instantly from farmers in villages beneath the GNIDA was fastened at 3,500 per sq. metre in 2016.

For residential sectors have been divided into 4 separate classes – A, B, C and D. The brand new charges per sq metre of land will probably be 39,000 for class A, 36,000 for class B, 34,000 for class C and 29,000 for class D, the GNIDA stated.

The outdated charges per sq metre had been 33,300 for class A, 31,250 for class B, 27,088 for class C and 24,060 for class D, it added.

Sectors Alpha 1, 2, Beta 1, 2, Gamma 1, 2, Delta 1, 2, 3 and Swarn Nagri fall in class 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 class B.

Class C contains sectors Eta 1, Omicorn 1, 1A, 2 and three, XU 1, 2 and three, Zeta 1 and a pair of, MU 1 and a pair of, Sigma 1, 2, 3 and 4; whereas class D contains Sectors 1, 11, 12, 16, 4, 16C, 17, 20 and Sector-Tech zone, the GNIDA stated.

Bhooshan stated the curiosity of buyers for industrial investments in Better Noida is growing quickly with corporations from not solely inside the nation but additionally from abroad asking for land to arrange industries.

“The GNIDA is making an attempt to develop industrial sectors by shopping for land from farmers, in order that industrial funding can improve additional and employment alternatives might be created for the youth. From April 1, 2022, it has been determined to purchase land from farmers on the new charge,” he added. PTI KIS RAM BAL

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