[ad_1]
representative imageNoida: The Noida Authority The allotment rates of residential, group housing and institutional plots were increased from 6% to 10% on Sunday. However, there has been no change in the rates of flats constructed by the authority or commercial properties taken on lease by it.
The decision to increase the rates of land was approved in the board meeting of the authority held on Sunday. Authority Chairman and Infrastructure and Industrial Development Commissioner Manoj Singh presided over the meeting.
This is the second time the authority has revised the land rates in eight months. In August last year, the allotment rates were increased by 20-30 per cent. But for two and a half years before that – when the pandemic hit – there was no change in rates.
On Sunday, residential plots of E category saw the maximum increase of 10 per cent. These plots are in sectors 102, 115, 158, 162 and all other sectors except commercial area. A, B, C and D category plots saw an increase of 6%, while there was no change in the rates for A+ category plots.
The allotment rate for group housing, industrial, IT/ITES and institutional plots has also been increased by 6 per cent.
Sunday’s meeting also decided to increase the authority’s budget by about 40% this year. The board had approved a budget of Rs 6,503 crore as against last year’s allocation of Rs 4,579 crore. The authority also increased its revenue target by 40% – Rs 6,920 crore.
In the last financial year, both income and expenditure exceeded the target of the authority. The authority collected Rs 6,481 crore in 2022-23 against a target of Rs 4,880.6 crore. It spent Rs 4,990 crore against a budget of Rs 4,579 crore.
Officials said the main reason for the higher revenue was the allotment of plots through e-auction. Officials said the gap between the target and the achievement was the highest in nearly a decade.
A provision of Rs 500 crore has been made by the authority for land acquisition this year. Noida While Rs 1,000 crore will be spent on plots in New Noida (Dadri-Noida-Ghaziabad Investment Region).
An amount of Rs 1,906 crore has been approved for development and construction work. Officials said this includes construction of the authority’s administrative office in Sector 96, Chilla and Bhangel Two underpasses on elevated road, Noida-Greater Noida Expressway and some other areas.
A provision of Rs 141 crore has also been made for the development of rural areas, which includes road repairs and urban maintenance works.
The Authority’s stake in the construction of the Noida airport was also discussed in the meeting. Officials said that till December last year, a total of Rs 1,830 crore was provided by the authority for the airport project on the basis of a total share of 37.5 per cent.
The authority has also paid its share of Rs 1,467 crore out of the total estimated amount of Rs 3.913 crore for acquisition of private land.
[ad_2]
Source link