Price Hike at Noida: Everything You Must Know
Investing in property in Noida would be a smart move for now. The Noida Authority is preparing to increase land allotment rates; hence, property prices could go up in the future. A proposal to hike the rates for residential, industrial, and institutional plots would be presented before the board meeting scheduled for March 27-28, 2025.
Anticipated Price Hike in Noida
As per the envisaged changes, it pertains to:
- A possible rise of 5 percent in residential plot rates
- It is up to industrial and institutional plot rates to see a maximum hike of 7 percent
New rates will come into action when the proposal gets its nod, impacting present and future buyers and investors alike. Nevertheless, the authority had decided not to reconsider changes to commercial prices at this time.
Noida, Having Another Rise in Rates?
Such price hikes had already occurred prior to this. As of August 2024, the rates of Noida-allotted properties saw an increment of 6 percent across all residential, industrial, group housing, and institutional categories. Nevertheless, the upcoming one is expected to push the price so high that the early birds stand to gain.
Noida 2025-2026 Budget
Along with figuring out prices, the Noida Authority is shaping up to prepare its next budget proposal on a huge scale, working on a ₹8,000-crore budget for the year 2025-26. The last fiscal year's budget was ₹7,713 crore, but, in the way of delays, another additional ₹1,000 crore was passed separately.
The next budget shall look at the following:
- The civil infrastructure package
- Land acquisition for Noida Extension and so forth
- Noida International Airport funding
Impact on the Buyers and Builders
It is no secret that today, a price rise is bound to affect buyers, investors, and builders considerably. For those who wish to purchase a flat, plot, or commercial unit in Noida, now must be a good time to finalize the deal before the new rates come into being. The board meeting would review the status report by the Amitabh Kant Committee, which involves issues on flat buyers and real estate developers.
Conclusion: Buy Now or Still Wait?
If you are keen to invest in the Noida property market, consider this time to be crucial. An imminent price rise will mean soon getting costlier properties, saving one a chunk of money while setting in motion an immediate action on crucial decisions. Watch the board meeting scheduled on 27-28 March for new announcements concerning prices and the allocation of the budget.
Would you like to pre-choose from the gigantic realty option in Noida before the sudden rise in prices ushers in? A word to us, and we shall help you reach an informed decision!