Property prices in Noida, the bustling satellite town adjacent to New Delhi, are set to climb higher following a decision by the Noida Authority to increase land allotment rates. Officials familiar with the matter have confirmed that the authority has raised land allotment rates across all categories except commercial and corporate house plots. The move, aimed at addressing rising inflationary pressures, will particularly impact residential land parcels across Noida’s A, B, C, D, and E categories. Notably, rates for A-category residential sectors, including prime areas such as sectors 14, 17, 19, 30, 35, 36, 39, 44, 47, 50, 51, 52, 93, 93-A, and 93-B, have increased from Rs 1.18 lakh to Rs 1.25 lakh per square metre.
In a recent board meeting held in Lucknow, the Noida Authority approved a substantial budget of Rs 7,700 crore for the fiscal year 2024-25. This meeting also formalised the decision to adjust land allotment rates, reflecting the authority’s strategy to manage economic pressures while supporting planned urban development. As per the revised rates, residential plots in categories B, C, D, and E will now range between Rs 48,110 and Rs 87,370 per square metre, varying according to location and category.
With these changes, stakeholders anticipate further escalation in property prices across Noida, underscoring the region’s dynamic real estate market amidst evolving economic conditions.
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