The decision to hike rates was taken at 197th board meeting of the Noida Authority
If you are looking to buy a home in a gated housing societies in Noida, here is a bad news for you. You have to shell out more money than would have earlier as the cost of the properties are bound to go up as Noida Industrial Development Authority on Friday increased the rate of plots by 7 percent.
The decision for the hike was taken during 197th board meeting of the authority held on September 27.
The authority also proposed to increase rates of residential plots which are close to metro stations and Noida and Greater Noida Expressway. The proposal states that the rates of residential plots nearby metro stations and expressway to be increased by 5 percent and 7.5 percent respectively. It also upgraded the property rates of Sector 14A, Sector 15, blocks A and B of Sector 44.
To ease home buyers’ problem of flat registry, the board has now decided to allow them to register their flats in their name under certain conditions. Against the current condition where the authority demands 10 percent of the total dues that a developer of a group housing project owes to it, the board will now collect dues in respect of a particular flat plus 10 percent more of the total calculated dues against each flat.
The authority also extended time for one time settlement policy till November 30 which already exhausted on August 31 this year.
For the effective enforcement of solid waste management rules in group housing society, the board recommended that completion certificates would not be issued to developer or owner of a group housing project, institutional and commercial, which have come up on a parcel of land measuring 2000 sqm to 5000 sqm, till a solid waste management plant for disposal of waste is set up in the compound of that particular project.
The board also said that the developers who will purchase FAR in future will be given extension time to complete housing projects.
