Noida Latest Property Rate – A big update has come for those buying a new house or property in Noida. Actually, recently the Noida Authority has increased the property rates tremendously. In such a situation, buying property has become much more expensive now than before. Let us know in the news below which are the areas where you can still buy a house cheaply-
Noida Authority has approved a 6 percent increase in property rates from Tuesday. This increase will be applicable on residential, group housing, institutional, industrial and data center plots. Allotment and registration will be done as per the new rates. There will be no change in the rates of commercial and corporate office plots. This decision was taken in the board meeting held on July 12, in which the rate hike was approved.
Buying a house in Noida becomes expensive –
These rates will affect transactions such as buying flats, building houses and industrial setups across the city. This is the first time the rates have been increased since April 2023. Sectors of Noida Authority are classified from A Plus to E, with commercial areas divided from A to D and industrial areas into Phase 1, 2 and 3. The rates of residential plots in A to E categories except A Plus will increase by 6 percent. Rates of industrial plots, group housing and other assets will also be increased by 6 percent.
In a recent board meeting held in Lucknow, Noida Authority approved a big budget of Rs 7,700 crore for the financial year 2024-25. The decision to adjust land allotment rates was also formalized in this meeting, which reflects the authority’s strategy to manage economic pressures while supporting planned urban development. As per the revised rates, residential land in category B, C, D and E will now cost between Rs 48,110 and Rs 87,370 per sq metre, varying according to location and category.
With these changes, there will be a further increase in property prices across Noida. Which tells about the dynamic real estate market of the region amid the emerging economic conditions. That is, property rates may see a sharp increase in the coming months.
