Greater Noida II in the offing: Real estate prices soar

February 5, 2007	(2 votes, average: 2.5 out of 5)  Loading ...
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Another satellite town is in the making, and the locals are waiting to cash in on the opportunity falling their way.

It is the Greater Noida expansion into Phase II that is creating a stir in real estate prices in 172 villages from Greater Noida’s urban area to Hapur via Dadri, Ghaziabad, Sikandarabad and Pilakhua.

The Centre-approved expansion plan for Greater Noida Industrial Development Authority (GNIDA)’s is in the preparatory stage of launching Greater Noida Phase-II, a new integrated township located on NH-24 and NH-91. It has already received approval from the Expert Committee Master Plan, IIT-Roorkee and would be cleared by April 2008.

The Greater Noida Industrial Development Authority (GNIDA) Master Plan for 2021 is being geared to meet the estimated growth in population, and will emphasise on expansion of industrial projects in the town. The National Remote Sensing Agency (NRSA) under the Department of Space (DOS) in Hyderabad has also completed the satellite imaging of the proposed area to be covered by this expansion.

Phase II of Greater Noida will extend from Dadri, near Hapur Road and Sikandarabad, and 58 hectares of land will be obtained from the concerned villages. GNIDA has increased its land rates by 10% for residential plots, and is selling its commercial property at a 15% hike. 36,000 hectares of this area is under the green cover, and residential projects would definitely be leveraging on this factor.

The expansion plans have excluded polluting industries from the list, and those commercial projects complying with eco-friendly norms are assured of prompt approval and added incentives. Real estate developers are eyeing the Phase II plans with interest, expecting an encore like Noida.

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News Published Under:   Noida |

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