The land rates have increased by 50 – 60% in Greater Noida. The Noida authority is planning to revise the rates of residential property in Greater Noida. The dream of owning a house in Noida will may end up as a dream only, as the rates are now got almost doubled. Lalit Shrivastava, Chairman Noida and Greater Noida authority, told the pressmen that the property rates have increased by 50-60% in view of the hike in land compensation. The authority is also planning for some developmental projects, for the up coming common wealth games 2010, which requires huge investment. Residential land rates have been raised from Rs.5900 per sq m to Rs.10, 500 per sq m. this has happened just due to hike in land acquisitions. It is required to develop the villages at par with the rural areas. The rural development funds have also been raised from Rs.16 crore to Rs.55 crore.