Greater Noida board hikes land allocation rates by 5.30% for FY25

The board of the Greater Noida Industrial Development Authority (GNIDA) on Saturday approved a proposal to increase land allocation rates by 5.30 per cent for 2024-25 fiscal, according to an official statement.

Several developmental projects, including the Greater Noida West Metro, Multimodal Logistics Hub, and Transport Hub, are coming to Greater Noida and Greater Noida West (also known as Noida Extension), the GNIDA said.

"In view of these developmental projects, property allocation rates are determined for each financial year. The board has approved the proposal to increase the current allocation rates for industrial, residential, commercial, institutional, and builder properties by 5.30 per cent for the fiscal year 2024-25," it said.

"The finance department will soon issue an office order in this regard. The new rates will be considered effective from April 1," the GNIDA said, describing the 5.30 per cent rate hike as "modest".

The board, in a meeting chaired by UP's ...