Uttar Pradesh is poised for significant growth with the Yogi government’s ambitious plan to acquire land for a new project in noida, aptly named New Noida. This city will complement Gautam Buddha Nagar seamlessly, and its infrastructure will be shaped by a thorough outline of development plans.
The groundbreaking approval of the second phase in Greater Noida has triggered a drastic spike in land values. The governing board’s green light has sparked a property market frenzy, driving up land rates to record heights. A sweeping development venture across 40,000 hectares will usher in a new era for Greater Noida, captivating buyers from afar.
Why Create a New Project in Noida?
Since its development in 1976, Noida has been developing gradually; however, in recent years, it has expanded rapidly. This growing city turned agricultural land into a mix of housing and industrial areas, and now it’s grappling with a shortage of available space.
During the 1990s, Greater Noida grew from a small town into a distinct city separated by only 30 kilometres from Noida.
Given the burden on Noida, proper expansion became a feasible answer.
Increased industrial, commercial, and urban development needs driven by the swelling population led to Noida’s constrained land accessibility for growth.
The 210 board meeting of the Noida Authority was held on August 13. Led by Manoj Kumar Singh, the Uttar Pradesh additional chief secretary and state infrastructure and industrial development commissioner, the decision to approve the New Noida Master Plan was made. The board studied the committee’s ideas on stuck housing ventures.
To accommodate more than 6 lakh people in New Noida, the Noida Authority plans to purchase land for Noida’s New Project. According to media sources, the area is now termed the Dadri-Noida-Ghaziabad Investment Region (DNGIR).
Word has it that the DNGIR area’s plans are practically finished, and the proposal will be subject to review by the Uttar Pradesh administration.
It is anticipated that 21,000 hectares of land will be bought from the present Noida and Bulandshahr territory. The primary focus of New Noida will be on the Dadri-Sikandrabad area. Also, a whopping Rs 1000 crore has been designated towards its growth.
Noida Authority’s New Noida Master Plan
In keeping with the New Uttar Pradesh City master plan, New Noida will accommodate more than 600,000 occupants. Certain sectors have been set aside for industries, offices, educational institutions, and residential spaces. What’s exciting is that the New Noida Master Plan 2041 has already been approved.
Based on early predictions, authorities anticipate that roughly 8,100 hectares will be dedicated to various industries. Also, around 1,600 hectares will be assigned to institutions providing medical and engineering programs and other educational facilities. In addition, more than 2,000 hectares will be set aside for residential developments.
Analyzing the successful models of Noida, Gurugram, and Greater Noida, the Noida Authority has developed a blueprint for the forthcoming New Noida. When talking about successful real estate developments, prominent real estate builders in Noida such as ACE Group have played the role of an exceptional contributor. Whether building luxury apartments in Noida or innovative commercial projects, ACE has established their presence by transforming Noida’s real estate sector.
Heading back to New Noida, according to Asian News International (ANI), the School of Planning and Architecture (SPA) is fashioning a comprehensive plan for the new city with zoning restrictions for industries belonging to the agriculture, food processing, and FMCG categories.
Integral to the master plan’s evolution is the inclusion of a satellite-based Geographical Information System (GIS). Implementing this system will play a vital role in the plan’s development.
FMCG, food processing, and agriculture will find a rejuvenated economy when the city’s master plan is implemented, with each contributing to the overall growth.
New Noida’s development is expected to receive a further shot in the arm with more educational institutions, knowledge centres, and a logistical hub to drive growth and encourage expansion.
The Land Rush Has Begun
With the plans for the new city, many business representatives have set forward to carry out discussions to acquire land from the villages involved.
It’s safe to say that the rush to acquire land in the new region has already begun, and some have already taken possession. Furthermore, investors also have started building warehouses and farmhouses, intending to secure a stake in the new area.
Impact of Noida New Project on villages
The region of New Noida city would be a collective of the following number of villages:
- Gautam Budh Nagar’s Dadri Tehsil – 20 villages
- Bulandshahr District’s Sikandrabad Tehsil – 67 villages
Unifying these 87 villages will convert the new city into a hub of opportunities and development. It’s not surprising that the Uttar Pradesh government and the governor already endorse this project, which was approved a year ago.
According to the Master Plan 2041, the Greater Noida boundaries would be extended, establishing the region as “Greater Noida Phase 2”.
The 40,000-hectare area is predicted to be a hotbed for real estate activity. With significant price hikes for land in the villages involved, many are encouraged to look for real estate investment opportunities in the area.
This increase in the price hike corresponds to the development of the new project in Noida. With new heights of land prices, locations like the GT Road have witnessed prices reaching a whopping INR 2.5 crore per acre.
Even then, there has been a rise in the number of land buyers, depicting the blooming interest of farmers.
Development Overview of The Greater Noida Phase -2
A point to be noted is that the primary focus on this new project would be laid upon industrial development in this project and one of the plans being the major railway junction in Bodaki, leading to extensive industrialization.
However, approval from authorities is still pending. Once received, the Delhi NCR authorities will have to issue a clearance.
With the interlinking of Greater Noida, Bulandshahr and New Noida, we can expect a thriving commercial and industrial centre. Let’s not forget that it’ll also create significant real estate investment opportunities in the area too.
Since the master plan and detailed project reports are already in place, we can anticipate the imminent launch of the project.
Furthermore, we can expect exceptional changes in the area’s real estate spectrum, with land purchase activities commencing this year.
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