Realty to get dearer in G Noida

NOIDA\GREATER NOIDA: Residential, commercial and other properties in Greater Noida will now cost more because the interest paid on installments
for purchase of land will now be three per cent higher.

The interest payable on installments for residential properties will now go up from 11 per cent to 14 per cent. And, the interest on commercial land is up from 14 per cent to 17 per cent.

Besides, farmers of Ghori Bachhera village and seven other Greater Noida villages, who had earlier received compensation for their lands acquired, will now also receive a "bonus" of Rs 310 per square metre of their lands acquired. These farmers, who had received payment in 2006, had then been given about Rs 382 per square metre.

This bonus has come in the wake of police firing on August 14, which left six farmers dead and some others injured. Meanwhile, the New Okhla Industrial Development Authority (NOIDA) has also requested Lucknow to set up a committee to consider a bonus for another eight Noida villages, which were acquired in or after 2006-2007.

Revealing the hike in interest rates, Greater Noida Industrial Development Authority (GNIDA) chief executive officer Pankaj Agarwal said, "This increase has been made across the board."

He said, "after a meeting of the Greater Noida board, seven acres of land has been earmarked next to the university to set up the multi-super speciality Kanshi Ram Hospital. Apart from the super specialties, the hospital will have even more advanced facilities for paediatric and pre-natal care."

The board also cleared designs for a girls' inter college and a boys' inter college, which will both also have hostels and residential facilities for staff."

At a separate meeting in Noida, the Noida board cleared a proposal to sell land for schools and colleges to private companies. Such land was earlier only sold to trusts and societies. Also, the date for receiving and opening technical bids for constructing the Noida "sports city" has been extended from November 4 to December 5.

Interestingly, NOIDA has decided to convert green belt land to residential to give to farmers for their lands acquired. The farmers have been demanding that besides money they be given 10 per cent of the land acquired as developed land.

Source: timesofindia.indiatimes.com