TEN NEWS NETWORK
NOIDA (12/08/2022): A day after Noida Authority announced its decision to increase the land rates, some key voices from the business community have started questioning the decision.
Criticising the move, Sushil Kumar Jain, Founder director of Progressive Community Foundation, Noida said, “Noida Authority has increased the rates of Noida land by 20% to 30% in the board meeting on 11th August 2022.”
“Where on the one hand, development activities had started in Noida after a long time due to corona epidemic, people started setting up their industries in Noida Also peoples have atarted construction od residences in Noida from various part of Noida. Due to such increase of 20% to 30% of land rates people will need invest more in setting up their industries or building their houses etc., which will have opposite effect to the development of the city in the coming time,” he added.
He requested the authority to reconsider the decision. “The development which was being started in the city will be slow down if this increase of rates of land not reversed.
Noida Authority should reconsider such decision,” Jain concluded.
