After residential plots now property market will get costlier

Noida: After the increase in residential plots, the Noida real estate market will increase in price in the coming years. On April 23, the board meeting of the Noida Authority announced a 6-10 percent increase in residential plots, group apartments and institutional plots.

People should spend more money on setting up industry and building housing as land allocation rates rise. The Noida Authority increased the allotment fees by 10-15% in 2022 as well. The property tax was increased by 10 percent this year as well.

Manoj Kumar Singh, Commissioner of Infrastructure and Industrial Development and Chairman of the Noida Authority, chaired the board meeting which included 19 recommendations. At the meeting, they agreed on a maximum increase of 10% for the e-category residential sectors. The price of A-plus category properties, on the other hand, remains unchanged.

Also Read: Noida Authority Increases Land Acquisition Rate by Rs 1,600 Per Sqm, Details Here

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