Uttar Pradesh Last week, the government gave approval to develop a new city near Greater Noida. This city of Noida will be known as New Noida. This decision of the UP government is expected to bring a tremendous boom in real estate as well as infrastructure in NCR. Which will have a direct impact on the real estate market of NCR. According to Mint news, this city will be developed in different phases in the next 15 years.
New Noida will be developed in 4 different stages
In the new Noida project, special focus will be given to Dadri, Noida and Ghaziabad. This project will be completed by Noida Authority, for which land will be purchased on a large scale in the villages located around Gautam Buddha Nagar and Bulandshahr district. According to the report, New Noida City will be developed in 4 different stages and the first stage will be completed in the next 4 years. 6 lakh houses will be built in this city.
What kind of facilities can be expected in new Noida?
A lot is included in the government’s plan regarding new Noida. According to the report, along with housing, New Noida will have facilities like industrial and logistics hub, commercial offices, hospital. Along with this, it is also being considered to develop an industrial township here, where along with affordable housing, adequate facilities will be provided for the workers working in factories. Apart from this, an Olympic city will also be developed here. Korean City and Japanese City are also being considered to be developed in this new city, which will mainly be an industrial centre.
How will it affect the real estate market of NCR?
First the Noida International Airport being built in Jewar and now the New Noida project has once again created a stir in the property market in Greater Noida as well as on Yamuna Expressway. In these places, the process of purchasing land on a large scale has started once again, due to which a sharp increase in land prices is also being seen. Property prices in Noida have already increased by 20 to 25 percent in the last 2-3 years. Experts believe that New Noida will have more impact on the market of Greater Noida. Because of New Noida, New Noida will be more attractive for companies and investors as compared to Noida.
