What’s New in Noida’s Urban Boom?

What’s New in Noida’s Urban Boom?

As the city of Noida continues to grow, it has become a hotspot for investors, entrepreneurs, professionals, and families. This evolving city offers a plethora of attractions, and facilities, such as state-of-the-art office spaces, cutting-edge healthcare facilities, luxurious residential projects, and world-class shopping malls. In this blog, we will be walking through the latest developments and projects that will shape Noida’s future, amplifying its urban boom. Let us explore the most exciting opportunities and transformations that are planned for the city to make it even more alluring to those looking to live, work, and thrive in Noida. 

Noida Secures ₹1 Lakh Crore Investment 

In fiscal 2023-24, the Noida authority had a target of reaching ₹90,000 crore in investments. Instead, the authority managed to achieve a whopping ₹103,000 crore worth of investments. Moreover, the Noida authority has allocated land to at least 149 developments, including IT and corporate organisations. According to a recently submitted report to the state government, MNCs and housing are expected to invest ₹103,000 crore in fiscal years 2023-24.

Interestingly, a report also suggests that a few of these investors have begun construction on the site. Under a directive from the state government, which is organising a “groundbreaking ceremony” soon to formally launch these projects, the Noida authority has crafted a report outlining the investment proposals that have materialised on the ground.

property in Noida

In the last year, 448 investors signed memoranda of understanding with the state government, which then forwarded these ideas to the appropriate industry bodies. The Noida administration has allocated land to 149 of the 448 proposals. According to officials, the remaining investors are looking for land in the “New Noida” area, which remains to be developed.

According to another official, at least 50 of the 149 projects that received land allocations have begun groundwork. And the rest are in the process of initiating work. According to officials, there are 89 industrial plots, 37 IT plots, 12 commercial plots, and 11 group housing plots. Furthermore, plots with sizes varying from 450 square metres to 52,000 square metres have been assigned by the authorities.

Over the next three years, these 149 companies are expected to generate at least 440,000 new jobs.

400 E-Buses To Start Operations in The Next 3 Months

Plans call for the e-bus service to provide smooth access to the future Noida International Airport near Jewar. The city bus route would additionally pass through all of the district’s key locations, including the Delhi borders, Yamuna Expressway, Electronic City in Sector 62, Noida Airport, Noida-Greater Noida Expressway, commercial and economic regions, industrial areas, government offices, and more. 

At least 400 electric buses are scheduled to begin service on strategic routes in the Gautam Buddh Nagar district soon, with the goal of improving last-mile connectivity throughout the area. The Yamuna Expressway Industrial Development Authority (YEIDA), Noida Authority, and Greater Noida Authority have received directives from the Uttar Pradesh government to acquire e-buses so that the city’s bus service may begin. After the formalities associated with the tender have been concluded, the buses are expected to begin operating within the next three months, according to officials. 

Noida International Airport

India’s Largest Airport Phase 1 is Expected to Launch in October

The development of Noida International Airport, commonly referred to as Jewar Airport, is close to completion, and passenger operations are scheduled to start in October. Following its completion, the airport—which will eventually be the largest in India—would be the third in the National Capital Region (NCR), including the Delhi Airport and the Hindon Airbase in Ghaziabad. 

Six roads, a swift rail-cum-metro, and pod taxis will connect the airport to a number of locations to improve connectivity. At Ballabhgarh, a 31-kilometre greenfield expressway is being built to link the airport with the Delhi-Mumbai Expressway. In addition, a 750-metre, eight-lane road is being constructed by the National Highway Authority of India (NHAI) to connect the expressway and airport. 

One of these projects, which would cost Rs 63 crore, entails building an 8.2-km-long and 30-metre-wide road that will run east and north of the airport. This route will link the Yamuna Expessway and the cargo terminal at the airport. In addition, a VIP access road from the Yamuna Expressway will be constructed to facilitate VIP and emergency access to the Noida Airport. 

The Rapid Rail-cum-Metro Rail’s Detailed Project Report (DPR) has been approved and forwarded to the government for a funding recommendation. The pod taxi and monorail are also the subjects of ongoing research that could take up to two years to complete. 

New Expressway Coming to NCR 

With the introduction of numerous expressways, metro routes, and transportation options, Delhi-NCR’s connection is rapidly expanding. The amount of time spent commuting has significantly decreased as a result of these improvements. Leading these projects is the new 31-km Faridabad-Jewar Expressway, which will only require 15 minutes to get you from Ballabhgarh to Jewar Airport.

At the moment, it takes roughly two hours to travel this distance. From 90 km to 31 km, the new six-lane expressway will reduce the distance, according to the National Highway Authority of India. This project, which is estimated to cost Rs 2,414.67 crore, is now under development and should be completed by June 2025.

property in Noida

In addition, the expressway is expected to stimulate the local real estate market. Developers predict that once finished, the value of real estate in the surrounding villages and other locations will rise by up to 40%, which will help local buyers and investors.

Furthermore, this expressway is expected to facilitate greater economic growth in the area by connecting the Delhi-Mumbai Highway, Yamuna Expressway, Kundli Ghaziabad Palwal (Eastern Peripheral Expressway), and Kundli, Manesar, and Palwal (Western Peripheral Expressway). 

Real estate experts believe that as this project progresses, more individuals will be drawn to Delhi, Noida, and Greater Noida, increasing their allure and value and benefiting the real estate market as a whole. 

Wrapping Up!

As Noida continues its journey of constant development, it is surely exciting to witness the growth of the region. Based on the trajectory of its current developments and future plans, Noida exudes a bright future, heralding an era of unparalleled progress.

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