YEIDA increases land rates by 5%
New Delhi: In a move which may prove to be a double whammy for home buyers and real estate companies in corona times, the YEIDA has increased land rates by 5 percent from 1 July. Thus, all categories of land along Yamuna Expressway will now become more expensive.
The authority took the decision to hike the prices of commercial, institutional, residential and industrial lands in a high-level meeting held recently. The meeting took note of the prevailing cost inflation index and hence increased the prices.
The authority has also hiked the reserved price that it offers to farmers to buy their land. It is now giving Rs 2,068 for a square meter of land since the sart f this fiscal as compared to Rs 1,896 earlier.
YEIDA is aiming for revenues of Rs 2,870 crore by way of the land allotment plus property dues to be recovered from the current set of allottees.