Noida fixes uniform rate of Rs 86k for IT/ITeS plots

Noida : Noida Authority has reset the price of IT/ITeS land, fixing a uniform allotment rate of Rs 86,000 per square metre and scrapping the earlier phase-wise system that offered sharply different figures across the city. Under the old policy, plots were divided into three categories – Phase 1 at Rs 77,620 per sqm, Phase 2 at Rs 39,580 and Phase 3 at Rs 27,560. The new rate will apply to fresh allotments for software parks, data centres, KPOs, BPOs, call centres and online customer support facilities. The move comes as Noida's existing land bank continues to shrink after decades of planned urban and industrial expansion. Spread across 20,316 hectares, the city has more than 150 sectors and 100 villages, leaving little vacant land for fresh large-scale allotments. 'The decision was taken in view of limited availability of land in Noida. We held a meeting and decided to do away with the categorisation of plots. The new allotment rates will be applicable from this month,' said additional CEO Vandana Tripathi. Noida has, meanwhile, emerged as a major IT/ITeS destination in Delhi-NCR. Sectors 62 and 63 remain its traditional technology belt, while the Noida Expressway corridor, stretching through sectors 125, 126, 132, 135, 142 and 144, has developed into another major corporate cluster. 'Noida International Airport, a dedicated freight corridor and major expressways have strengthened regional connectivity and made the city a preferred destination for fresh investment,' an official said. Officials said some IT/ITeS plots along the expressway are still available and will now be allotted at the revised rate. The pricing change also comes amid a broader upward revision in the cost of land around Noida. Recently, the Authority raised the compensation for farmers by 53% in the category that includes a 5% developed plot, while the increase was 21% in the category without such a plot. The decision was taken in a bid to speed up land acquisition for the New Noida project. You Can Also Check: Gold Rate in Noida | Silver Rate in Noida | Bank Holidays in Noida | Public Holidays in Noida | Noida AQI | Weather in Noida | Petrol Price in Noida | Diesel Price in Noida | CNG Price in Noida | LPG Price in Noida Stay updated with the latest Noida news. Download the TOI App.