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Cities

Noida: After residential plots now property market will get costlier; Details here

Noida: After the hike in residential plots, the Noida property market will get costlier in the coming years. On April 23, the Noida Authority board meeting announced a six- to 10-per cent hike in residential plots, group housing, and institutional plots.---Advertisement--- People would have to spend more money on establishing industries and building dwellings as […]

Noida: After the hike in residential plots, the Noida property market will get costlier in the coming years. On April 23, the Noida Authority board meeting announced a six- to 10-per cent hike in residential plots, group housing, and institutional plots.

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People would have to spend more money on establishing industries and building dwellings as land allocation rates rise. The Noida Authority hiked allotment charges by 10 to 15% in 2022 as well. Property taxes have been raised by 10% this year as well.

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Manoj Kumar Singh, Infrastructure and Industrial Development Commissioner and Chairman of Noida Authority presided over the board meeting, which included 19 recommendations. During the meeting, a maximum 10% increase in e-category residential sectors was agreed upon. Property rates in the A-plus category, on the other hand, remain unchanged.

Also Read: Noida Authority increases land acquisition rate by Rs 1,600 per sqm, Details here

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Yashashvi Tak

Yashashvi Tak

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First published on: Apr 30, 2023 06:52 PM IST


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