Land rates finalised for industrial township in Greater Noida

By | December 12, 2016

The industrial land rates have been fixed at Rs 10,790 per sq m in the highest slab for the first 4,000 metres, the average price has been set at Rs 7,800 per sq metre. “As an incentive, industrial plots above 20 acres will be allowed 5% support facilities for workers of the unit. A committee has also been set up to decide discount packages for big anchor units. We are expecting anchor units, which are electronic manufacturing units, IT based, hi-tech, bio-tech and research and development units to set up base here,” said Deepak Agarwal, CEO, GNIDA.

The group housing allotment rates have been fixed at Rs 28,000 per sq m. “For these plots, it will be mandatory for the developer to put aside a percentage of land for economically weaker sections,” he said. “Commercial land rates have been finalised at Rs 65,000 per sq m, while IT land rates will be Rs 20,000 per sq m,” he said. “IT plots above 10 acres will be allowed 10% support facilities. But this will be only for employees and not for commercial use,” he added.

The board also finalised a payment plan for the land allotted. “Allottees will have to pay 10% on application for land, 20% in 60 days of allotment and 35% in two installments of 180 days each,” Agarwal said.

Mumbai-based developer Shapoorji Pallonji, which was awarded the project on January 9, 2016, has been directed to complete the project within two years. The developer started work on March 11 this year. Located in the Dadri-Noida-Ghaziabad investment region of the corridor, the township is expected to provide employment to thousands of workers. The township will have 51% industrial area, 13% residential area while 7% area will be reserved for commercial activities. The remaining area will be developed as green zone.

Source: Times of India