Relief news for 3000 flat buyers of Noida

Noida: The 214th board meeting of the Noida Authority was held in Lucknow under the chairmanship of Chief Secretary Manoj Kumar Singh. Many important decisions have been taken in this meeting. The decisions taken in the meeting will benefit millions of people in the city. Many old stalled projects will pick up pace again and many new projects will be started. Authority Chief Executive Officer Lokesh M has given detailed information about the decisions taken in the board meeting.

The authority will get revenue of billions

A new policy has been implemented to complete the old stalled real estate projects. So far 27 projects have also taken advantage of it, which will provide relief to about 3000 flat buyers. Also, the authority will get revenue of billions of rupees. Land rates have been revised for the financial year 2024-25. There has been a 6% increase in most categories, while there has been no change in commercial rates.

Farmers get relief

An additional time limit has been given for construction on residential plots. Those who do not complete construction even after 12 years can get a time extension at a 10 per cent annual fee. Farmers will be given 5 years of free time for construction on 5 per cent of residential plots allotted to them.

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