The Noida and Greater Noida authorities will soon start work on the establishment of New Noida. The master plan for these two upcoming cities is yet to be finalised, after which the land will be acquired. The potential shortage of land in Noida and Greater Noida is one of the reasons why big players are eyeing these emerging real estate hotspots.
New Noida is called the Dadri-Noida-Ghaziabad Investment Region, on which the government will spend Rs 8,500 crore in the first phase. It has been clearly instructed that the financial plan should be prepared in such a way that the farmers get the right compensation while acquiring the land.
New Noida will be developed between Dadri and Khurja on land acquired from 87 villages. The Authority has selected the School of Planning and Development for this project. New Greater Noida includes 150 villages from Hapur, Bulandshahr, and Ghaziabad. The new plan also allocates 41% for industrial development, 11.5% for residential, 17% for green belt, 15.55% for roads, 9% for institutional, and 4.5% for commercial.
To keep the state’s development on track, the authority is planning to develop a new city that will have lower land prices compared to Noida and Greater Noida. Although there is still some land available in Greater Noida, Noida’s land is almost entirely built up.
