NOIDA: Greater Noida Authority plans to increase land prices across various categories by 5-8% in the financial year 2025-26, as part of its broader strategy to fund major infrastructure developments and urban facilities enhancement.
The proposed hike, expected to be approved in the March board meeting, will affect all land categories including residential, commercial, industrial, and institutional plots.
Last year too, the rate was increased by 5%.
Currently, industrial land rates range from Rs 9,920 to Rs 30,788 per square metre, while residential plots are priced between Rs 31,877 and Rs 47,227 per sqm.
Commercial plots with 2 FAR command the highest rates, ranging from Rs 57,176 to Rs 66,602 per sqm. Group housing plots are currently priced between Rs 38,484 and Rs 54,493 per sqm, while institutional plots cost Rs 14,294 to Rs 27,246 per sqm.
Authority officials cite ongoing major infrastructure projects in Greater Noida and Greater Noida West as the primary reason for the price adjustment.
The increase aligns with the GNIDA’s expanded budget plans, which are set to rise by 20% to over Rs 5,600 crore in FY 2025-26, up from Rs 4,859 crore in 2024-25.
Key infrastructure projects driving the price hike include the Noida International Airport, for which Rs 100 crore has been proposed, and metro network expansion with an allocated budget of Rs 70 crore. These developments are expected to significantly enhance the region’s connectivity and real estate value.
Market analysts suggest that potential buyers and investors should factor in these upcoming price revisions in their purchase decisions, as the new rates will likely take effect in the next financial year.
Meanwhile, actual spending this year was much slower than expected. Of the Rs 4,859 crore budget for the current financial year, only Rs 1,180 crore was spent by Jan.
For 2024-25, the Authority proposed spending Rs 120 crore on internal development works, Rs 120 crore on major development projects, and Rs 59 crore on residential buildings, vendor markets, and kiosks.
Additionally, Rs 930 crore was allocated for special projects, and Rs 43 crore for horticulture.
However, many projects did not move beyond the planning stage.
The Authority also was not able to utilise the Rs 1,200 crore budget for land acquisition. Similarly, the Rs 1,272 crore set aside for construction and development works remained largely unexecuted.
