Greater Noida development to discuss changes in land use on August 22
GREATER NOIDA: The board meeting of Greater Noida Industrial Development Authority (GNIDA) that is scheduled for Thursday may see some important decisions being taken regarding changes in land use and property rates across the city.
One of the agenda items would be to allow IT plots allotted in industrial areas to be used for industries.
One of the agenda items would be to allow IT plots allotted in industrial areas to be used for industries.
The move comes in the wake of poor response from the IT sector in setting up businesses across Greater Noida.
“IT firm allotments can be done in industrial as well as institutional areas in Greater Noida. We have 90 such plots in both categories. But since IT sector activities have not picked up here, we are proposing the change,” said Narendra Bhooshan, the CEO, GNIDA.
Officials said that at least two applications have been received wherein IT companies have sought permission to switch to industries category. Earlier in Noida, similar changes were made to allow more industries, as not many IT companies were interested in setting up shops.
“IT firm allotments can be done in industrial as well as institutional areas in Greater Noida. We have 90 such plots in both categories. But since IT sector activities have not picked up here, we are proposing the change,” said Narendra Bhooshan, the CEO, GNIDA.
Officials said that at least two applications have been received wherein IT companies have sought permission to switch to industries category. Earlier in Noida, similar changes were made to allow more industries, as not many IT companies were interested in setting up shops.
Another important agenda that might be discussed is to introduce variable pricing of plots in each category.
As of now, all plots in a particular category have the same rate. Officials said that properties at a prime spot, like Pari Chowk as well on the outskirts of the city, cost the same now. With the variation in rates, the best properties will be slotted in category A, followed by B, C and D categories.
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With this, minor increase can be expected in land cost. For example, industrial land up to 4,000 sqm costs Rs 10,790 per sqm across the city now. When the variation, the rate would be Rs 10, 790 per sqm in D category and marginally higher in C category. It would higher in B and A categories.
“ It is important to make the change to bring the rates closer to market value and reduce black market transactions,” said Bhooshan.
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