GREATER NOIDA: The Greater Noida Authority has approved a hike in land allotment rates across residential and other categories, making property purchases in premium sectors significantly more expensive.
The revised rates were cleared at the Authority's board meeting on Saturday as part of efforts to boost revenue, and will come into effect once a formal office order is issued.
Under the new structure, sectors have been classified into four groups - A, B, C and D - based on location and availability of civic amenities. Group A sectors, considered the most upscale, will see residential allotment rates rise to Rs 51,363 per square metre. Despite the increase, officials noted that the revised rates remain below prevailing market prices, where resale values in several prime areas have already crossed Rs 1 lakh per square metre.
The Authority plans to roll out new schemes, including residential plots, under the updated rate structure. Officials said the reclassification aims to improve transparency and better align pricing with infrastructure development across the city.
Allotment rates have also been raised for industrial, commercial, institutional and hospital land parcels, with categories similarly divided into sector-based groups and pricing linked to location and plot size.
For industrial land, the minimum allotment rate has been increased to Rs 10,789 per square metre from Rs 10,416 earlier, reflecting rising demand and ongoing infrastructure expansion in Greater Noida. The move is expected to impact new buyers and investors, particularly in high-end sectors, while still offering some margin compared to current market rates.