Property Price Hike In Noida On Yamuna Expressway
At a recent board meeting, the three government bodies of Noida
, Greater Noida and Yamuna Expressway made the decision to improve the initial allotment costs of group housing projects, personal flats, institutional property, industrial property and commercial assets. The improved costs will come into impact by next weeks time.
With this amount modification, the allowance costs of team real estate, personal and institutional qualities in Noida have gone up by 10.41%, while those of business and professional qualities have gone up 7.5% and 15% respectively. For area across all groups, the Greater Noida authority has consistently hiked allowance costs by 10.4%. The Yamuna Expressway authority has made the decision to improve the area costs by 40%. The new costs have seen an extreme improvement in the allowance price of area in Yamuna Expressway. Rates of
property in Noida have gone up by 40% while costs of business and institutional area have gone up by 28-42 %.
In a welcome move, detecting demonstration over settlement of the farm owners, Greater Noida and Yamuna Expressway government bodies have improved the settlement amount for area purchase by 10.4%. Keeping improve in blowing up costs, area cost and economical meltdown in mind, we have made the decision to improve area costs, Sanjeev Saran, the Chief Executive of Noida, said.
The Greater Noida authority is drawing under a huge economic disaster. The authority is already in a debt of Rs 4,000 crore and several growth tasks are in limbo in the Noida Extension-Greater Noida area. The Greater Noida authority had recently written to the Noida authority seeking for a loan to sort out the disaster. Rama Raman, the boss of Greater Noida Industrial Development Authority (GNIDA), says: The area row has charged an additional pressure in the form of improved settlement and recovery offers for the farm owners who specified a bargain. Due to scarcity of funds, many growth tasks have been delayed. Thus, the authority has been restricted to improve the allowance costs.
Earlier, GNIDA had improved the property costs by 16-40 %, in Sept 2011, as a result of severe economical meltdown. Another major issue which hampers the rise of property in Noida stays to be too much government interference in the matters of
real estate consultants, as it generates large revenue. This came into impact from Sept 2, 2011. This was the second time in that economical year that the authority had brought up the costs. Previously it was brought up by 12.5-20 % on Apr 1, 2011. Due to the improved costs, the real estate costs had already been improved from Rs 13,000 per sq metre to Rs 16, 900 per sq metre. Moreover, costs of area for team real estate, medical centres, shops, enjoyment features, groups, business and other requirements were also improved.
After the Allahabad high courts judgment over plot row, which instructed 64.7% additional amount and allowance of 10% of the developed plots of land as settlement to the farm owners, Noida and Greater Noida government bodies had released is aware to all the developers and contractors whose projects were in the questioned areas. In line with the order from the judge, the Noida authority had to pay an additional settlement package of Rs 1,100 crore to the farm owners. The Noida authority has made the decision to pass on 50% of this pressure to the contractors.
by: Rahul Chauhan
Exotica Dreamville@ @ 91 9811244882## Noida Extension 1/2 Bhk For Sale Antriksh Kanball Sec 77 Noida By Innovions Shubhkamna Advert City Newly Launched Sector 1 Noida Extension Shubhkamna City Noida Extension Live Closer To Nature! Get Admissions In Popular Schools Of Noida Amrapali Dream Valley,noida Extension 3c Lotus Peak Sector 100 Noida Have 84 Flats Only Shubhkamna Advert Are In Noida With Shubhkamna Lords Property Value Skyrocketed In Noida New Projects Mahagun Mywoods %% 91 9873161628 %%mahagun Mywoods Noida 3c Lotus Peak- Largest Green Residence Sector 100 Noida 3c Lotus Peak Noida - Few Flats Left How To Get Admission In Best Noida Schools