GNIDA Noida asked for Additional Payments from Existing Plot Owners
The Greater Noida Industrial Development Authority has decided to ask for additional payments from existing plot owners allotted plots in Greater Noida. Residential plots allotted by Greater Noida Authority to individual allottees will cost almost Rs 500 per sqm more.
Three months back, the Greater Noida Authority had hiked land rates by 12.5 per cent to tide over its cash crunch. Justifying the sharp hike in rates, Authority officials claim the move has been necessary to meet the shortage of funds they have been experiencing after paying additional compensation to Patwari farmers.
Meanwhile, there is no end to the uncertainty looming over the fate of projects in the Noida Extension area as the dispute between the Greater Noida Authority and farmers is weighing heavily on the developers. The developers, however, are optimistic and say they will do whatever required to tide over the crisis.
Times of India
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