Now, pay more to buy land in Greater Noida; rates up by 5.30%

The rates are effective from April 1, 2024.

A GNIDA official said, “Many development projects are coming up in Greater Noida and Greater Noida West, including ambitious projects like Greater Noida West Metro, Multimodal Logistics Hub and Transport Hub. The asset allocation rates are determined every financial year considering the development projects. The Board has approved the proposal to increase the current allotment rates of all properties like industrial, residential, commercial, institutional, builder etc. by 5.30% in the financial year 2024-25.”

The Authority has also approved an additional floor-area ratio (FAR) for all categories of plots within 500 metres parallel to the proposed Metro route from Noida to Knowledge Park 5 in Greater Noida West. Under this, an additional FAR of 0.5 for residential groups, 0.2 for commercial, 0.2 to 0.5 for institutional, 0.2 for entertainment/greenery, and 0.5 for IT/ITES has been approved.

GNIDA further approved a revised pet policy under which no fee will be charged for pet registration; the process will continue through the year.

Officials said in societies, owners can take their pets only in service lifts. If there is already a person in the lift, then the person with the pet will not go in that lift and vice-versa. However, if there is mutual consent, then both people can go in the lift. Apart from this, apartment owners and residents’ welfare associations will jointly identify pet feeding points. Here are the other proposals approved in the Board’s 135th meeting:

Building another exhibition-convention centre, like India Expo Mart in Greater Noida, on 25 acres in Sector Chi. Officials said the proposal will be sent to the Uttar Pradesh government for final approval. “The Noida International Airport is going to be operational soon which will further increase the movement of VIPs and domestic and foreign guests in Greater Noida… By 2050, the population of Greater Noida will also increase to 40-50 lakh. Keeping these things in mind, it is necessary to build another exhibition-convention centre. It will also have the facility of a hotel and a big garden,” said the Authority in a statement.

Development of a cargo terminal near ICD, Dadri, under the PM Gati Shakti Scheme on 260 acres near Pali and Makora villages. The GNIDA said this will provide employment opportunities to about 15,000 people.

“With its construction, this area will become the main logistics hub of the NCR. This will facilitate the movement of freight through the expressway and DFC corridor. This board’s decision will be sent to the government. It will be implemented after approval,” said an official.

Ganga water project: By the end of this year, Ganga water supply will be started in all 58 sectors. “Work on the plan to supply Ganga water to Greater Noida West has started. Tenders have been issued to build three reservoirs in Greater Noida West and one reservoir in Greater Noida East. After these are approved, it will take six months to build the reservoir,” the Authority said in a statement.

The meeting was headed by GNIDA chairman Manoj Kumar Singh. N G Ravi Kumar, CEO of Greater Noida Authority, and Lokesh M, CEO of Noida Authority, were also present.