Property Rates to Rise by around 7.5% in 3 Sectors across Noida

Some of the residential sectors have been upgraded by the Noida Authority which will now witness an upsurge in prices, especially due to their proximity to Noida expressway and metro line. In sectors like 14A, 15A and 44, property rates will rise by up to 7.5%, according to the officials. For group housing societies and the ones marked in institutional segment, rates of plots will be raised by 7%, even as commercial plot prices have been shrunk by 15% under 2 FAR (floor area ratio) category.

Some parts of 14A, 15A and 44 sectors are closely located to both expressway and Metro corridor. The rates of residential plots have been proposed to be increased by 5% near the Metro line. The property rates would be increased by 7.5% for the ones located near the expressway. According to the officials, the proposal has been sent for
approval. Since 2006-07, the land rates have been increased for the first time. The board approved 33 proposals at Friday’s meeting, including proposals for a helipad, a club, a golf course, and an entertainment hub. Chaukhi Dhani, a tourist spot nearby Jaipur road has been proposed to be built at sector 151A on a plot spread over 120 acres. Alok Tandon, chairperson, Noida Authority, “It is expected to generate more revenue and boost tourism for Noida. On a public-private partnership, a helipad has been proposed to be built on 10 acres. A 20-acre plot has been proposed for a tourist area and
adventure sports.”

An 18-hole golf course has been proposed to be built over 90 acres which would be developed for Rs. 255 Crores, according to an estimate. A feasibility report has been prepared by the Noida Golf Club regarding registration of fees and members, among others. It has been proposed to build a Noida habitat and convention center and two places will have start-up hubs to be approved onboard meetings. The Authority is planning a start-up hub and habitat center. According to the master plan given by the Authority, the population is all set to exceed whopping Rs. 25 Lakh in the city by 2031.