Delhi NCR, 4th December 2024: New Noida, the newly approved project by the Uttar Pradesh government, marks a pivotal moment for the NCR region. Strategically located near Greater Noida and the upcoming Noida International Airport in Jewar, this initiative is poised to redefine the region’s real estate and infrastructure landscape. The project is managed by the Noida Authority and focuses on land development in Dadri, Noida, and Ghaziabad districts. This massive project will involve land acquisition from villages in Gautam Buddha Nagar and Bulandshahr districts. It will be carried out in four phases over 15 years, with the first phase expected to be ready in four years.
Besides, the phase-wise development of the city as Dadri Noida Ghaziabad Investment Region (DNGIR) will also include establishing residential areas, commercial spaces, industrial zones, educational institutions, hospitals, mandi, and other areas. It will be developed mainly in Northern, Central, and Southern zones. Land under the northern zone will mainly be residential, and the central zone will be a mix of residential and industrial areas. Meanwhile, the southern zone will mainly be an industrial and logistics hub. The development plan aims to support Micro, Small, and Medium Enterprises (MSMEs), manufacturing units, and export hubs. This aligns with the government’s vision of economic self-reliance and positions New Noida as a critical driver of industrialization in the NCR region.
Manoj Gaur, President, CREDAI-NCR and CMD, Gaurs Group, says, “Property prices in Noida and Greater Noida have nearly doubled over the past five years. Previously, prices in these areas were significantly lower than the market rates and construction costs. With prime land now scarce in these regions, the New Noida city will offer world-class amenities and enhanced connectivity, indicating a bright future for the real estate sector in Noida and Greater Noida. As a bold initiative, the city will enhance the industrial and residential landscape in NCR, and with the market improving now, it is poised for further growth. Strategically located near Jewar Airport and supported by advanced infrastructure, New Noida city is expected to attract substantial global investments across diverse sectors. Further, it is a transformative opportunity for the real estate sector as it will unlock immense growth potential, opening a gateway for developers to cater to evolving market needs. Thus, we foresee New Noida city becoming a dynamic hub for comprehensive development, driving demand for innovative residential, commercial, and industrial projects while reshaping the region’s economic and real estate future.”
Sanjay Sharma, Director, SKA Group, says, “The New Noida project offers a golden opportunity for real estate developers to redefine urban living with premium housing and state-of-the-art commercial spaces. The Noida and Greater Noida region already boast immense potential for creating sustainable and high-end housing options for buyers seeking connectivity and quality. With New Noida’s comprehensive planning and seamless connectivity to major NCR hubs, the real estate sector stands on the brink of unprecedented growth, ready to deliver world-class living and working spaces.”
Under the Noida City Master Plan, approximately 13.44% of the city’s area is allocated for residential use, with 7% designated for informal settlements. In parallel, 9% of the area is reserved for industrial worker housing, ensuring a balanced approach to urban development. The plan also emphasizes an equitable distribution of residential zones, catering to a wide range of income groups, including EWS, LIG, MIG, and HIG.
Moreover, key policies such as the Integrated Industrial Township Scheme and the UP Private Industrial Park Scheme are set to fast-track the creation of residential pockets in industrial areas, enhancing the overall livability of the region.
Noteworthy projects near the DNGIR New Noida City include the Industrial Township at Greater Noida, the Multi-Modal Transport Hub (MMTH) at Boraki, and the Multi-Modal Logistics Hub (MMLH) at Greater Noida. These developments will further bolster New Noida’s connectivity and infrastructural strength, making it an attractive destination for both residential and commercial investments.
Mr. Sanchit Bhutani, MD, Group 108 said, “Investing along the Noida-Greater Noida Expressway is set to drive growth and redefine the region’s economic landscape. With the development and increasing investments, this corridor is transforming into a premier destination for business and retail innovation. Serving as a vital link between Noida, Greater Noida, and Delhi, the expressway is becoming as one of India’s most critical commercial hubs. Its seamless connectivity to the upcoming Jewar International Airport and major expressways further improves it’s strategic importance, positioning it as a top choice for investors. This ongoing transformation is expected to boost employment opportunities and empower established enterprises, cementing the area’s status as a leading business and investment hub.”
Neeraj Sharma, MD, Escon Infra Realtors, says, “The New Noida project is set to benefit from significant infrastructure upgrades that will drastically improve accessibility across the region. These improvements are poised to ease connectivity between New Noida, Greater Noida, and other parts of the NCR, making the region more accessible to residents, businesses, and investors. Moreover, the impact on Greater Noida’s growth trajectory is expected to be profound. Hence, we expect the ripple effects to extend to surrounding areas, attracting new investments and boosting property values across the region.”
Mr Jitendra Goyal, Director Sales, Trisol RED, “New Noida is poised to be a game-changer for the real estate market in NCR. With its focus on comprehensive development, strategic location, and seamless connectivity, this project will redefine urban living and industrial growth in the region. The anticipated infrastructure advancements and sustainable urban planning will attract both residential and commercial investments, making New Noida a key player in shaping the future of NCR. This ambitious initiative is set to unlock new growth opportunities, driving the region’s economic and real estate evolution for years to come.”
Ajendra Singh, Vice-President, Sales and Marketing, Spectrum@Metro, says, “As New Noida will be strategically located near the Jewar Airport, this will significantly impact the demand for commercial spaces and retail centers. We foresee that the region will thrive with shopping malls, entertainment zones, and lifestyle hubs and is expected to flourish as the airport draws a growing number of travellers and residents to the area. This is a unique opportunity for the real estate sector to create integrated commercial and retail ecosystems that cater to an increasingly urban and affluent population. Thus, we look forward to solidifying the region’s appeal as a commercial powerhouse.”
Therefore, New Noida presents a wealth of opportunities for investors and developers across diverse sectors. For early movers, the potential for land value appreciation and high returns on investment (ROI) is significant. Developers can leverage the opportunity to introduce innovative projects tailored to the region’s dynamic needs while investors can capitalize on the area’s long-term growth trajectory. As connectivity improves and infrastructure takes shape, New Noida is set to emerge as NCR’s next big growth story.
