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.
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.
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.