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

Noida: The Noida Authority has made a big increase in the compensation given for the purchase of land. The 209th board meeting of the Noida Development Authority was organised on Sunday, where it was considered to remove the bottleneck of the new road being built between Noida and Greater Noida. Authority’s Chief Executive Officer Ritu […]

Edited By : Yashashvi Tak | Updated: Apr 24, 2023 16:47 IST
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Noida: The Noida Authority has made a big increase in the compensation given for the purchase of land. The 209th board meeting of the Noida Development Authority was organised on Sunday, where it was considered to remove the bottleneck of the new road being built between Noida and Greater Noida.

Authority’s Chief Executive Officer Ritu Maheshwari (IAS) told the board members that the current compensation rate is around Rs 3,700 per square metre. At this price, farmers are not ready to give land for the road. But now farmers will be given compensation at the rate of 5,324 per square meter. Overall, there has been an increase of about Rs 1,600 per sqm.

If the Noida Authority compensates the farmers at the rate of Rs 5,324 per square meter for making this road, then the land will have to be bought at the same rate in the rest of the city. Overall, it is clear that now the Noida Authority will have to pay compensation at the rate of at least Rs 5,324 per square meter for taking land from the farmers. According to the information received, after paying this rate, the authority will not give any other benefit to the farmers.

The two-three-year-old hurdle to connect Noida’s Sector-146 and Sector-147 directly with LG Chowk in Greater Noida has been removed. The authority has increased the compensation rate for purchasing land from farmers in submerged areas of Noida. Now the rates have been reduced to about 5,324 square meters. Till now the rate was around Rs 3,700 per square metre. The farmers were not getting ready to give up the land by saying that the price was too low. Due to this, the project of construction of a road in the part of Noida was stuck. The road has been built in Greater Noida. Now if the farmers are ready to give land at the new rate, then the work of building the road will start in two-three months. In such a situation, those travelling between Noida and Greater Noida will get a new route. This will save people from getting stuck in traffic jams at Pari Chowk.

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First published on: Apr 24, 2023 04:47 PM IST

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