On property close to Delhi-NCR, the Noida Authority intends to build a new metropolis dubbed New Noida. The Yogi-led government in Uttar Pradesh plans to buy land to build New Noida, a brand-new city that will be connected to Gautam Buddha Nagar.
With the clearance of its second phase, Greater Noida's real estate market is undergoing a fundamental change that is driving up land prices sharply. The recent approval from the governing board has sparked a property market frenzy, causing land prices to rocket to previously unheard-of heights.
Greater Noida is set to undergo a significant shift, drawing buyers from all over the world, with plans to create a vast new region measuring 40,000 hectares.
Greater Noida's limits will be expanded as part of Master Plan 2041's ambitious growth plan, which will be known as the "Greater Noida Phase 2" region. This new region, which spans a vast 40,000 hectares, is anticipated to be a hub of real estate development. The huge increase in land values in the villages impacted by this development has encouraged many to look into real estate investment options.
The number of buyers interested in purchasing land is rapidly increasing, despite the fact that New Noida's master plan is still being developed. The cost of land has reached astounding new heights, with rates along the GT Road topping 2.5 crore INR per acre. The increase in prospective land purchasers suggests that farmers are becoming more eager to invest in land, reported News24.
The development plan is currently awaiting final approval from the authorities, after which the plan will be presented for clearance from the Delhi NCR authorities.
Notably, the new Noida city will combine 67 villages from the Sikandrabad tehsil of the Bulandshahr district and 20 villages from the Dadri tehsil of Gautam Buddh Nagar.
The new Noida is intended to become a spreading centre of opportunity and growth as a result of the unification of these 87 villages. The governor and the Uttar Pradesh government have already supported the project, which was approved approximately a year ago.
