GREATER NOIDA: The Yamuna Expressway Industrial Growth Authority (Yeida) on Friday in its board assembly raised the land allotment charges, making the property costs costlier for the brand new patrons, and likewise accredited a funds of ₹9,991 crore funds for FY 2025-26.
Throughout Friday’s board assembly, it was additionally determined that compensation to farmers for land acquisition can be elevated from ₹3,100 per sqm to ₹4,300 per sqm. (HT Photograph)
Yeida has elevated the allotment charges for all of the classes together with residential, industrial, industrial, group housing, institutional and different classes too. The hike is within the vary of 20 to 110%, drawing flak from the property patrons.
Yeida stated it has revised the land allotment charges and likewise accredited a ₹9,991 crore funds, protecting in thoughts the prevalent market charges and necessities.
It hiked allotment charges at which the property is offered or auctioned by 110% for company workplace plots, the group housing land costs elevated by 62%, and residential plots are actually 35% costlier than earlier, stated officers.
“The board has approved the new rates keeping in mind the higher land acquisition costs and market sentiments,” stated Yeida’s CEO Arun Vir Singh.
The utmost hike was accredited for company workplace plots, the place costs have greater than doubled from ₹25,000 per sq. metre (sqm) to ₹52,500. The industrial sector has additionally seen a significant hike of 35%. Additionally, Yeida has hiked 10% throughout all plot sizes of business class.
Yeida has defended the value hike, stating that it’s obligatory as a result of rising value of buying land from farmers. Throughout Friday’s board assembly, it was additionally determined that compensation to farmers for land acquisition can be elevated from ₹3,100 per sqm to ₹4,300 per sqm. This, in response to officers, has instantly impacted the pricing of developed land.