Purchasing homes gets costlier in Noida

Gurugram, July 21

Property prices in Noida have increased due to a surge in land allotment rates by the Noida Authority. The rates have been increased across categories, except for commercial and corporate house plots. This move, aimed at addressing rising inflationary pressures, will particularly impact residential land parcels across Noida’s A, B, C, D and E categories.

Notably, rates for Category A residential sectors, including prime areas such as Sectors 14, 17, 19, 30, 35, 36, 39, 44, 47, 50, 51, 52, 93, 93-A and 93-B, have increased from Rs 1.18 lakh to Rs 1.25 lakh per square metre.

Surge in land allotment rates

Advertisement

• Property prices in Noida have increased due to a surge in land allotment rates by the Noida Authority
• The rates have been increased across categories, except for commercial and corporate house plots
• This move, aimed at addressing rising inflationary pressures, will particularly impact residential land parcels across Noida’s A, B, C, D and E categories
• Rates for A-category residential sectors have increased from Rs 1.18 lakh to Rs 1.25 lakh per sq m

In a recent board meeting held in Lucknow, the Noida Authority approved a substantial budget of Rs 7,700 crore for the fiscal year 2024-25. This meeting also formalised the decision to adjust land allotment rates, reflecting the authority’s strategy to manage economic pressures while supporting planned urban development.

According to the revised rates, residential plots in B, C, D and E categories will now range between Rs 48,110 and Rs 87,370 per square metre, varying according to location and category.

With these changes, stakeholders anticipate a further escalation in property prices across Noida, underscoring the region’s dynamic real estate market amidst evolving economic conditions.