NOIDA reduces the conversion rate to 10% from 25% earlier

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More than a year after the UP government had issued a gazette notification approving mixed land use policy in the city, the Noida Authority on Friday reduced the conversion rate from 25% to 10% on popular demand and on the lines of a similar policy being followed in Delhi.

Till now, allottees owning residential and industrial property could convert it into mixed land use by paying an ‘impact fee’ to the Authority, which is 25% of the cost difference between the prevailing residential or industrial sector rate and the reserve price of the commercial rate of the area where the property is located.

However, the Noida Authority board has now approved the reduction in the conversion fee to 10%. “The same formula will be used for conversion to mixed land use for both residential and industrial properties. But the impact fee will have to be paid in lump sum,” said Rama Raman, chairman of Noida Authority. Electric and water charges will also be applicable as per commercial rates, officials said.

Raman said the conditions of the rest of the existing policy remain unchanged. As per the policy, the amended building regulation of Noida envisages mixed land use permitting commercial activity in residential and industrial plots situated on 24-metre-wide roads. While guest houses and banks will be allowed on a residential plot, auto showrooms, art galleries and museum will be permitted on industrial plots.

Mixed land use is currently allowed on 25% of permissible FAR on the ground floor of industrial plots. Guest house and banks are permitted on all floors up to permissible FAR limit on residential plots. The policy also allows certain support facilities to allottees after conversion to mixed land use as per prevailing building and zone regulations of Noida’s Master Plan-2031.

For industrial plots these include office, bank, showroom for display/sale of industrial goods manufactured in the unit, gym, health club, creche, day-care centre. Internet cafe, dispensary, and taxi and autorickshaw stand.

Support activities for residential plots include office, canteen, personal service shop, bank, ATM, creche, health centre and dispensary. Allottees will have to provide parking provisions within the premises as per provisions of Noida’s building regulations.

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