Land Pooling Boost For Noida & Greater Noida Realty

In a major boost to real estate in Noida, Greater Noida and Yamuna Expressway, the  authorities are giving a push to Land Pooling.

The development authorities of Noida, Greater Noida, Yamuna Expressway have been directed to make use of land pooling policy. They have been told to adopt this policy for real estate development instead of direct land purchase. The idea is to create a land bank of  litigation -free land with clear titles to woo investors in this region. Under this policy land pooling of minimum 25 acre land will be given priority. The government will not make upfront payment for land acquisition. Instead, the government will develop this acquired land and grant 25% of it to the original owner. A major (80%) of this allocated land will be developed for industrial use. For residential and commercial development, 12% and 8% land respectively, will be earmarked. 

Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, ” This is a major policy initiative as the UP government needs major foreign investment for upcoming Jewar Airport and Film City in Greater Noida. In turn , this will have a major multiplier effect  on real estate in the entire NCR.

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