Noida hikes farmers’ land compensation to Rs 6,459/sqm
In a major push towards farmer-centric development, civic infrastructure, and long-pending real estate resolutions, the New Okhla Industrial Development Authority (NOIDA) approved a range of key decisions during its 223rd board meeting chaired by Infrastructure and Industrial Development Commissioner Deepak Kumar.
Under a key decision, the Board approved a 53 per cent hike in land compensation for farmers, increasing the rate to Rs 6,459 per square metre, alongside a 5 per cent developed residential (abadi) plot for land acquired via mutual agreement. Compensation rates in DNGIR (New Noida) have also been aligned with Greater Noida and Yamuna Expressway authority norms to ensure farmers become active partners in the region’s economic growth.
Addressing legacy stalled real estate projects, officials revealed that Rs 561.35 crore has been collected across 36 projects following Government relief policies, with instructions issued to expedite pending property registrations for homebuyers. To streamline civic operations, the Board approved a Standard Operating Procedure for a ‘One-Time Lease Rent - Corpus Fund’ to secure non-recurring revenue for long-term maintenance of sanitation, public health, and water supply.
Key decisions also included allocating 13,347.18 square metres of land in Sector-153 for the Gautam Buddha Nagar Police Commissionerate Office, setting up a 100 TPD waste-to-energy plant in Sector-145, and modernising the Sector-8 nursery on a Build, Operate, and Maintain model. Additionally, the Board approved a tripartite sub-lease deed framework to grant property rights to present occupants in cooperative housing societies and agreed to form a joint committee with Greater Noida to draft a uniform industrial policy.
