In a groundbreaking move towards establishing New Noida, both the Industrial Development Authority and Noida Authority have given the nod to the Master Plan-2041. This strategic blueprint envisions a new city near Noida, drawing inspiration from the urban planning excellence of Chicago, the US, and various European nations. Let’s delve into the details of this transformative initiative set to redefine the landscape of 84 villages in Dadri and Bulandshahr. Let’s move on to the update on Real Estate in Noida:
Redefining the Future of Real Estate in Noida: New Noida Unveiled
Meticulously crafting with a primary focus on industrial development, New Noida sprawls across an expansive 20,000 hectares. The master plan allocates designated areas for various purposes, including residential (11.5%), green and recreational spaces (17%), road infrastructure (15.5%), institutional (9%), and commercial properties (4.5%).
Real Estate Noida Insight: The city’s master plan integrates the strategic land allocation for residential and commercial Noida real estate, emphasizing a balanced and sustainable urban development approach.
Residential Revolution of Real Estate in Noida: Catering to the Growing Population
Anticipating a significant influx, the city plans to accommodate nearly 3.5 lakh individuals out of the projected six lakh population. The housing sector will see the construction of units catering to EWS, LIG, MIG, and HIG categories, addressing the diverse housing needs of the burgeoning workforce.
Real Estate Noida Perspective: The residential developments in New Noida aim to meet the rising demand for housing options, contributing to the dynamic property market in Noida.
Zonal Marvel: Four Zones, One Vision
Drawing inspiration from successful city planning models in Chicago and Europe, New Noida will be categorized into four distinct zones—South, East, West, and North. Each zone will host specific industrial hubs, offering diversified Investment opportunities and enhancing planning efficiency.
Real Estate Noida Integration: The zonal distribution not only supports industrial growth but also strategically influences the property landscape in Noida, ensuring a balanced mix of commercial and residential spaces.
Special Investment Zone: Driving Connectivity and Investment
A dedicated Special Investment Zone covering approximately 210 square kilometers is strategically planned, interconnected through the Western Dedicated Freight Corridor (Dadri to Mumbai) and Eastern Dedicated Freight Corridor (Ludhiana to Kolkata via Khurja). This connectivity aims to attract investors with enhanced transportation options.
Real Estate Connectivity Noida: The Special Investment Zone adds a new dimension to Noida by providing enhanced connectivity, making it an attractive proposition for both residential and commercial investments.
Addressing Land Scarcity and Budget Approvals
With over 95% of Noida already developed, the proposed budget of Rs 1,000 crore has been greenlit to address the encroachment on 45,26,464 square meters of land in Noida.
Expansion : The budget approvals signify a strategic move to address the limitations of existing land, fostering real estate expansion in Noida.
New Real Estate in Noida: A Hub of Knowledge
Beyond its industrial prowess, New Noida aspires to transform into an “Education City.” Plans include establishing university campuses, medical and engineering colleges, professional institutes, nursing and paramedical institutions, integrated colleges, and technical institutions, with 1662 hectares reserved for these educational facilities.
Real Estate Noida Growth: The educational institutions planned in New Noida contribute to the overall growth of real estate in Noida, attracting families and investors seeking quality education.
Phased Development and Enhanced Connectivity
The city’s evolution will unfold in five phases, with the initial 10% land acquisition slated for 2024. Subsequent phases leading up to 2047 will seamlessly integrate planned commercial, institutional, facility/utility, water body, traffic, and transportation zones. The projected population of six lakh is expected to find a home in this expanded city, with improved connectivity options to the Jewar Airport and railway networks.
Real Estate Noida Evolution: As New Noida develops in phases, it presents a strategic opportunity for real estate development in Noida, offering diverse investment avenues.
Expansive Road Network: Paving the Way to Progress
To facilitate seamless connectivity, a three-tier road network is in progress, integrating college-to-industry roads through the Dadri-Noida-Ghaziabad Investment Region (DNIGR). This network comprises a 40.68 km First Arterial Road, a 98.34 km Second Arterial Road, and a 126.09 km Sector Road—all interconnected through a broad 130-meter grid road, designed to meet the growing demands of the New Noida development.
Connectivity Hub: The extensive road network not only supports the city’s growth but also enhances the overall real estate connectivity in Noida, making it an attractive destination for Investors and homebuyers alike.
In conclusion, the approval of the Master Plan-2041 heralds the dawn of a new era for Noida’s real estate landscape. New Noida is poised to become a beacon of progress, seamlessly blending urban innovation with sustainable development and creating a paradigm shift in the property dynamics of Noida.
Conclusion
The approval of Master Plan-2041 heralds a paradigm shift for property, as New Noida emerges as a transformative hub. With meticulous zoning, strategic connectivity, and a dedicated Special Investment Zone, it beckons investors to shape the future of the property. As New Noida addresses land scarcity challenges and allocates a substantial budget, it signifies a pivotal moment for expanding and revitalizing Noida real estate. The city’s vision as an “Education City” adds another layer of appeal, driving growth in residential and Commercial real estate in Noida. With phased development and an extensive road network, New Noida positions itself as a strategic epicenter for real estate investment. In the coming decades, this gives hope for an unparalleled journey, redefining the landscape and opportunities in real estate in Noida.