18/06/2024
Greater Noida board approves hike in property rates, new convention centre, cargo terminal under PM Gati Shakti
Greater Noida Industrial Development Authority (GNIDA) hiked the allocation rates of different property categories by 5.30 per cent on Saturday, raising land prices, effective from April 1, 2024. In addition, in its 135th board meeting, GNIDA approved the proposal to brailel another exhibition-convention centre like India Expo Mart in Greater Noida. Officials said that the new centre would be Iruilt on 25 acres of latul in Sector Chi The proposal will be sent to the Uttar Pradesh government for final approval "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 ywar considering the development projects. The Board has approved the proposal to increase the current allotment rates of all properties like industrial, residential commercial, insitational, builder etc. by 5.30 per cent in the financial year 2024-25" said a GNIDA official. The new allotment rates in residential sectors range between Rs 31,877 to Rs 47,227 per square metre "Noida International Airport is also going to be operational soon which will further increase the movement of VIPs and domestic and foreign guests in Greater Noida The population of Greater Noida is also increasing rapidly. By 2050, the population of Greater Noida will also increase to 40 to 50 lakh. Keeping these things in mind, it is necessary to build another exhibition-convention centre. It will be built on a 25 acre area in Sector Chi. It will also have the facility of a hotel and a big garden," said the Authority in a statement. Apart from this, the Greater Noida Authority Board has approved the development of the Gati Shakti Cargo Terminal near ICT, Dadri. Under the PM Gati Shakti Scheme, a cargo terminal will be developed on about 350 acres of land situated near Pali and Makora villages. GNIDA said that this will provide employment opportunities to about 15,000 people "With its construction, this arva will herume the main logistics hub of the NCR region. This will facilitate the moveniour of freight through the expressway and DFC corridor. This decision of the board will now be sent to the government. It will be implemented after approval from there," said an official. The Authority Board has alto approved an additional floor-arsa ratio (FAR) for all categories of plots within 500 metres parallel to the proposed metro route from Noida to Knowledge Park 5 of Greater Noida West. Under this, an additional FAR of 9.5 for residential groups, 0.2 for commøresal, 0.7 to 0.5 for institutional, 0.2 for entertainment greenery, and 0.5 for IT/ITES has been approved The authority also approved a revised pet policy under which now no fee will be charged for per registration. The registration process will continue throughout the your instead of three months.
