YEIDA increases land allotment rates across categories: 110% hike for office spaces, 62% for group housing
Land acquisition compensation increased for farmers
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The Noida Authority board on Friday revised rates for most categories while keeping commercial land prices unchanged (Archive)The Yamuna Expressway Industrial Development Authority (YEIDA) has increased land allotment rates across all categories, including corporate and housing spaces, officials said on Friday following YEIDA’s 84th Board Meeting. “Alongside these hikes, the YEIDA board has increased land acquisition compensation for farmers from Rs 3,100 per sqm to Rs 4,300 per sqm,” said Arun Vir Singh, Chief Executive Officer, YEIDA.
The meeting was chaired by Industrial Development Principal Secretary Alok Kumar, alongside the YEIDA CEO, Greater Noida Authority CEO Ravi Kumar N G, and Gautam Buddha Nagar DM Manish Kumar Verma, among other officials.
“The maximum hike was for corporate office spaces at 110%, followed by a 62% rise for group housing and a 35% increase for residential plots. The cost of corporate office plots also doubled from Rs 25,000 per sqm to Rs 52,500 per sqm. Group housing land rates have increased from Rs 32,375 per sqm to Rs 52,500 per sqm, while residential plots now cost Rs 35,000 per sqm, which was Rs 25,900 in the previous financial year,” an official informed. YEIDA is the nodal authority for commercial and infrastructural projects in areas such as Greater Noida, and Jewar.
According to the official statement, “The prices for the commercial sector increased by 35% as the rate increased from Rs 51,800-Rs 62,200 per sqm to Rs 70,000-Rs 84000 per sqm. Similarly, industrial land rates have also increased by 10% across all categories, with small plots (up to 4,000 sqm) now costing Rs 15,670 per sqm, up from Rs 14,240. Larger industrial plots over 80,000 sqm now cost Rs 9,550 per sqm, compared to Rs 8,670 previously.”
The IT and IT-enabled services (ITES) sector has seen a 20% price hike, with land rates now ranging from Rs 10,880 to Rs 20,590 per sqm, up from Rs 9,060 to Rs 17,150 per sqm. Educational and institutional land has also become costlier by 20-38%. Small institutional plots (up to 4,000 sqm) now cost Rs 18,030 per sqm, while larger plots have increased from Rs 7,930 to Rs 10,990 per sqm, the statement added.
Meanwhile, property rates in Noida have risen following a 6% hike in land allotment prices across residential, institutional, and industrial categories. The Noida Authority board on Friday revised rates for most categories while keeping commercial land prices unchanged.
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