Greater Noida Land Charges: New, Back-Dated Land Charges A Huge Setback For Greater Noida Plot Owners

Greater Noida Land Charges: Additional charge of Rs 1,287 per sq mt will have to be paid by all plot owners, irrespective of when they bought the land. The charge will be levied from May 1, 2013 and will attract 11 per cent interest. Non-payment will attract an additional 3 per cent penalty.

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Greater Noida Land Charges: New, Back-Dated Land Charges A Huge Setback For Greater Noida Plot Owners

Greater Noida Land Rates: Additional charge of Rs 1,287 per sq mt has to be paid by all plot owners


Greater Noida: 

In a big setback for tens of thousands of plot owners across 50 sectors of Greater Noida, just on the outskirts of the national capital, the Greater Noida Authority or GNIDA has slapped them with a demand notice to pay an additional charge of Rs 1,287 per square meter, together with 11 per cent interest, that too backdated to 2013.

The order follows an Allahabad High Court ruling, asking the Greater Noida Authority to give additional compensation to farmers whose land was acquired. Greater Noida Industrial Development Authority or GNIDA borrowed money from banks to pay some of the farmers Rs 4,500 crore, and now has to recover it by backdating the demand from existing plot owners.

The additional charge of Rs 1,287 per sq mt will have to be paid by all plot owners - over 25,000 of them - irrespective of when they bought the area.

This charge will be levied from May 1, 2013 and will attract a 11 per cent simple interest, GNIDA said in the order, adding that the amount due will be payable in four equal installments.

"Non-payment of the charge will attract an additional 3 per cent penalty," it said.

The additional payment for a 200 sq mt plot comes to over Rs 4 lakh.

The September 28 notice to plot holders cites the Allahabad High Court order asking it to give 64.7 per cent additional compensation to farmers. It termed the additional charge as "additional compensation recovery".

Some Resident Welfare Associations have decided to challenge the order in courts.

Sectors called Alpha 1, 2; Beta 1, 2; Gama 1, 2; Delta 1, 2 3 are not part of this scheme.

Following an uproar over the new charge by the plot owners, GNIDA on October 5 issued a clarification saying it had "borrowed about Rs 4,500 crore from different banks / financial institutions to pay additional compensation to farmers. The authority has to pay monthly interest on this loan."

According to the GNIDA order, the first installment is due to be deposited by October 31.
 



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