NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has increased property allotment rates by 3.5% across all categories. The new rates, approved by the board on May 2, see commercial property priced at Rs 98,776 per sqm, while residential plots in developed sectors are now set at Rs 51,363 per sqm.
This adjustment comes ahead of the anticipated commercial operations at the Noida International Airport, slated to commence on June 15. Officials believe the airport will position Greater Noida as a significant economic and logistics center, likely boosting demand from investors, businesses, and homebuyers.
According to GNIDA’s additional CEO, Sunil Kumar Singh, residential plots in sectors such as Alpha 1, Alpha 2, Gamma 1, and others have been priced at Rs 51,363 per sqm, while plots in Chi 2, Chi 3, and several others fall into a second category priced at Rs 47,413 per sqm.
In the commercial category, developed sectors including Alpha 1, Alpha 2, and Gamma 1 have the highest rates at Rs 98,776 per sqm. Other commercial plots are priced at Rs 92,191, Rs 88,214, and Rs 77,731 per sqm, featuring a floor area ratio (FAR) of 4.
Commercial properties with a lower FAR of 2 are now priced at Rs 72,436, Rs 71,119, Rs 69,802, and Rs 62,184 per sqm. Plots designated for corporate offices now have rates of Rs 77,045, Rs 71,120, Rs 67,169, and Rs 52,020 per sqm.
In the industrial category, prices vary based on plot size and location, with smaller plots typically costing more. For example, industrial plots in areas like Ecotech 1 and Ecotech 3 priced at Rs 33,484 per sqm for sizes up to 1,000 sqm and decreasing to Rs 21,010 per sqm for plots exceeding 80,000 sqm.
The Authority is developing additional sectors like Ecotech 9 and Ecotech 14, where larger plots offer comparatively lower rates. The first three categories remain unchanged, while the latter two categories are priced at Rs 11,924 and Rs 10,789 per sqm, respectively.
Builder plots for group housing are now set at Rs 59,266, Rs 55,315, Rs 52,681, and Rs 41,855 per sqm. Institutional plots across different sectors are priced at Rs 29,632, Rs 27,658, Rs 25,023, and Rs 22,683 per sqm.
Additionally, land for IT parks and data centers varies between Rs 20,330 and Rs 26,907 per sqm based on size. Properties designated for religious purposes range from Rs 14,350 to Rs 21,526 per sqm.
The recent adjustments are minor and align with the cost inflation index, as noted by officials.
