Boards approve infrastructure projects in NOIDA, Greater NOIDA and YEIDA areas
Yamuna and NOIDA expressway funds will be raised by hiking land allotment rates in NOIDA and YEIDA. A 10% hike was announced by the Noida, Greater Noida and Yamuna Expressway authority’s Chairman, Mr Rama Raman. In their board meeting the New Okhla Industrial Development Authority (Noida) and Yamuna Expressway Industrial Development Authority (YEIDA) approved a 10% hike today. However the good news for buyers is that for Greater Noida there was no hike proposal.
The residential sector rates per square meter after hike range from Rs 68,750, Rs 47,920, Rs 34,900, Rs 29,170 and Rs 25,000 for category A,B,C,D and E. YEIDA residential sector rates per square metre after hike is Rs 11,500. Group housing plot rates is Rs 14,000.
Mr P.C, Gupta the CEO of YEIDA on Monday declared that their board has approved a residential flats scheme for 2,420 flats at sector 22D. Further YEIDA office had proposed for projects in Agra and Aligarh. They were also approved in the meeting.
The three boards took another important decision by approving the UP Apartment Act and its implementation in three cities of Noida, Greater Noida and Yamuna Expressway area. This act will make the builders more accountable and while allotting projects to the builders, their credentials will be scrutinised thoroughly. Further the three boards have approved a whopping10.21 % hike in the land compensation of NOIDA, Greater NOIDA and Yamuna Expressway areas. Hence the land owners and farmers can breathe a sigh of relief now.
The board is looking into the traffic jam issue at sector 37 on the DSC road in Chhalera area. The shops along the road were a hindrance in widening of the road. Now the board has cleared the way for road widening in this area by approving the allotment of 3,500 square meter land at an alternate site to the five owners of these shops. The farmers whose lands were acquired between March 18, 2009 and March 31, 2014 will receive a hiked compensation of 64.7% now. NOIDA board has already paid hiked compensation to the farmers whose lands were acquired between 2003 and March 17, 2009.
Source- The Economic Times
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