Greater Noida is poised for a dramatic transformation, attracting investors from around the globe, as it embarks on a monumental endeavor to develop a sprawling new region spanning 40,000 hectares. The Noida Authority, situated in proximity to Delhi-NCR, has unveiled ambitious plans to establish a brand-new metropolis aptly named “New Noida.” Under the leadership of Chief Minister Yogi Adityanath, the Uttar Pradesh government is actively acquiring land to bring this visionary project to life, creating a seamless connection with Gautam Buddha Nagar.
This development marks a pivotal turning point in Greater Noida’s real estate landscape. The recent green light from the governing board has ignited a fervent frenzy in the property market, propelling land prices to unprecedented heights. Influential business figures are making their way to the affected villages to explore land acquisition opportunities, while some are wasting no time, already erecting farmhouses and warehouses to establish their presence in this new territory.
In a remarkable trend, early land acquisition has gained traction, with some individuals securing ownership of properties in anticipation of Greater Noida’s expansion. Part of the ambitious Master Plan 2041, this growth phase is designated as “Greater Noida Phase 2” and encompasses a colossal 40,000-hectare area, destined to become a focal point for real estate development. The substantial surge in land values within the affected villages has piqued the interest of many, spurring them to explore real estate investment opportunities.
This burgeoning interest in real estate mirrors the trends witnessed in New Noida, where the number of prospective land buyers is steadily rising, even as the master plan for New Noida continues its development.
The price of land has reached staggering heights, with rates along the GT Road corridor exceeding 2.5 crore INR per acre. The growing appetite for land acquisition among farmers is indicative of their increasing eagerness to invest in this burgeoning real estate market, as reported by News24.
The development plan is currently awaiting final approvals from the authorities, following which it will be presented for clearance by Delhi NCR authorities.
Notably, the new city of Noida will encompass 67 villages from the Sikandrabad tehsil of the Bulandshahr district and an additional 20 villages from the Dadri tehsil of Gautam Buddh Nagar. The amalgamation of these 87 villages is set to position New Noida as a thriving hub of opportunities and growth, a project that received backing from the Governor and the Uttar Pradesh government approximately a year ago.
Also read: YEIDA Acquires 3,340 Acres for Planned Development in Noida