Greater Noida is on the verge of a massive transformation, poised to attract global buyers and investors with plans to create a sprawling city covering 40,000 hectares.
The Noida Authority has unveiled ambitious plans to construct a futuristic metropolis named New Noida on prime Delhi-NCR land. Spearheaded by the Yogi-led Uttar Pradesh government, this visionary project aims to connect seamlessly with Gautam Buddha Nagar.
The recent clearance of its second phase has ignited a revolutionary shift in Greater Noida’s real estate landscape, sending land prices soaring to unprecedented heights. This resounding endorsement from the governing board has triggered a property market frenzy, with land values skyrocketing.
Leading business luminaries are making their way to the impacted villages, engaging in discussions about land acquisition. Simultaneously, others are taking swift action, commencing the construction of farmhouses and warehouses to establish their presence in this promising territory.
The expansion of Greater Noida’s boundaries, as outlined in the ambitious Master Plan 2041, officially dubs it the Greater Noida Phase 2 region. Spanning an impressive 40,000 hectares, this region is poised to become the epicenter of real estate development. The remarkable surge in land values within the affected villages is fueling interest in real estate investments.
This upsurge in real estate enthusiasm mirrors the trends witnessed in New Noida. The influx of prospective buyers keen on land acquisition continues to grow, despite the ongoing development of New Noida’s master plan.
Remarkably, land prices along the GT Road have shattered records, with rates now exceeding an astounding 2.5 crore INR per acre. The surge in prospective land purchasers indicates a heightened eagerness among farmers to invest in land, as reported by News24.
The development plan currently awaits the final stamp of approval from the authorities. Following this, it will be submitted for clearance by the Delhi NCR authorities.
Notably, the new Noida city will amalgamate 67 villages from the Sikandrabad tehsil of the Bulandshahr district and 20 villages from the Dadri tehsil of Gautam Buddh Nagar.
This amalgamation is poised to transform New Noida into a thriving hub of opportunities and growth, drawing strength from the unification of these 87 villages. Notably, the project earned the endorsements of both the governor and the Uttar Pradesh government approximately a year ago.