Noida Authority has hiked the circle rates for industrial, residential and institutional lands by 14.19 percent, while keeping the land circle rate unchanged for commercial purposes for 2016-17 year.
According to the revised circle rates, the minimum rate to accrue land for developing residential projects in Noida will be Rs 33,800 per sq mtr and the maximum rate will be Rs 92,950 per sq mtr.
For the category of group housing projects, the minimum circle rate for the year will be Rs 47,827 per sq mtr, while the maximum rate will be Rs 1,26,752 per sq mtr. The decision was taken in the annual board meeting held by Noida Authority. The circle rates have been less hiked by the authority compared to the last year’s hike.
Lands for institutional and industrial purposes have been classified into three segments, namely Phase 1, Phase 2 and Phase 3. The rates have been hiked differently in various phases.