Housing land in Greater Noida to get costlier from next month

Land for home construction in Greater Noida will get costlier from the next month as the Greater Noida Industrial Development Authority has revised the land rates for the residential and commercial plots in the city. According to a Times of India report, the authority has divided the city into four zones and introduced a different rate system for these areas.

As per the report, land rates in Zone A prime residential areas will surge by 40 per cent from April 1. In Zone B, the rates have been hiked by 30%, while in Zone C the prices have been raised by 13%. Property rates in Zone D have been kept unchanged.

Residential plot rates in Alpha, Beta, Gamma and Delta sectors of Greater Noida will see the biggest jump. Rates in these four sectors have been increased from currently Rs 23,100 per sqm to Rs 32,000 per sqm. For group housing, including private developers, the rates have been raised to Rs 33,000 per sqm, from Rs 28,230 per sqm.


However, the authority has reduced the rates for commercial plots due to lukewarm response. The rate for commercial plots have been brought down to Rs 44,250 per sqm in zones B, C and D from a flat Rs 46,190 per sqm rate charged earlier, while rates of Zone A commercial plots will remain the same.