Greater Noida Authority to increase plot rates on basis of Development parameters of area

Saurabh Kumar

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Greater Noida: After 27 years of its establishment Greater Noida Industrial Development Authority is going to categorize the geographical area of the city. The criteria of this categorization will be the development in the area and its proximity to public services and metro stations.

Along with that authority is also planning to increase the rates of plot allotments by 5 to 10 % depending on the area under which plots lies.

There will be five categories A, B, C, D and E under which different areas will be divided. Area falling under A category like Pari Chowk, Knowledge Park, the commercial belt will witness a hike of 15 per cent. While areas under B and C category will have hike of 10 per cent and 5 respectively. D and E don’t have any hike as for now, areas under that category don’t have urban facility or were very underdeveloped.

According to CEO of GNIDA, Narendra Bhooshan, “The idea behind doing such categorization is to separate the prime locations, which have commercial activities, proximity to the metro stations from residential areas or less developed areas. Because areas lying under different under developmental parameters can’t have same rates”.

As for your information, current rates for single land allotment are 23,000 per square foot.

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