Proposal Of Noida Land Rates Reduction To Be Made Soon

Noida Authority has announced that it’s planning to revise the land allotment rates. With the supervision of ACEO (additional CEO) AK Srivastava, a committee has been formed to analyze the rates and to decide whether there can be rates reduction of Noida property. The decision is taken after the meeting of Noida Authority Board held on 1st June.

The committee which has been formed also has Manmohan Mishra (Financial Controller), VP Pathak (Chief Legal Officer) Saumya Srivastava (Deputy CEO) and other important officials from the departments of land and property. The committee will deeply scrutinize the current allotment and market rates and also the present circle rates.

After the rates are studied, a report will be compiled and submitted. The rates reduction of Noida property will be proposed in the report and the report will be shown in the next board meeting to be held in the next three months.

The officials have not revealed the amount by which the Noida land rate reduction will take place but they have said that the schemes launched lately were not at all fruitful.

Also, YEIDA and GNIDA have announced that they will not increase the land allotment rates in the next one year.