UP increases compensation for acquired land in Noida,Gr Noida

Mohinder Singh,Chairman of the Noida,Greater Noida and CEO of the Yamuna Expressway Authority said the three authorities decided to hike the rate taking into consideration the demands of farmers for increased compensation and the price index.

“We have decided to increase the compensation rate by 12.5 per cent,” said Singh.

In Noida,the compensation rate for inherited property has been increased to Rs 1240 per square metre with effect from April 31,2011. The earlier rate in 2010-2011 was Rs 1100 per square metre.

In Greater Noida,the revised rate is Rs 1050 per sq metre and for Yamuna Expressway Industrial Expressway Authority,the revised rate is Rs 990 per square metre.

“Our land compensation rate and benefits given to farmers after acquisition are substantially better than the other states in the country,” the chairman claimed.

Singh said 7 per cent of the populated land given to farmers is developed to make it viable for their prosperity.

“One of the progressive steps we have taken is to allow commercial activity on 50 per cent of the 7 per cent land we give to them to give them for self-employment opportunity,” added Singh.