The master plan for 2041 has received clearance from the Greater Noida Industrial Development Authority (GNIDA). The plan calls for acquiring 40,000 hectares of land for Greater Noida’s growth and development. Greater Noida currently occupies 31,733 hectares; however, after implementation, the city will sprawl over 71,733 hectares.
The panel headed by Kant, a former CEO of NITI Aayog and one of India’s 20 Sherpas, has suggested a freeze on the payment of builders’ taxes to the government. With the understanding that they will pay their debts gradually, this will lessen the financial pressure on the builders and assist them in finishing their delayed projects. The group recommends charging a fair interest rate and putting the emphasis on finishing the projects. The second phase of Greater Noida will be developed according to the Master Plan 2041. Additionally, the land has been suggested for use in residential development, mixed-use, greenery, institutional use, and transportation.
In order to expand industrial projects, Greater Noida’s land supply was quickly shrinking, so it was decided to buy more land from farmers for the second phase. Officials added that after Jewar’s Noida International Airport opens in 2024, the demand for land is projected to increase.
