Now buying property in this city adjacent to the capital has become more expensive

Buying property in Noida has become more expensive. The allotment rates of residential, industrial, group housing and institutional properties have been increased by 6 percent. The allotment rates of corporate offices and commercial properties under institutional use and sectors of category A plus in residential have been kept unchanged. These decisions were taken in the board meeting of Noida Authority held on Friday.

The new rates of properties will come into effect as soon as the minutes of the meeting are released. Officials said that 50 plots are vacant under 17500 square meters of land in category A, B and C of residential plots. After the new rates are implemented, the authority will sell these plots.

The ban on passing maps and registration in the 4 projects stuck in Sector-78, 79, 150 and 152 of Sports City will remain in place. It was decided in the board meeting that instead of lifting the ban on only 1 plot of Sector-150, a solution should be found for all the plots. For this, a guideline will be issued by the government.

The 214th board meeting of Noida Authority was held. About 60 proposals were put forward in it. A proposal was also put forward to take forward the SC-2 plot project of Sector-150. CAG had raised objections on various points including allotment of land to builders at cheap rates under Sports City, construction of flats instead of developing sports facilities, etc.