Greater Noida board approves Master Plan 2041, to acquire 40,000 hectares
On August 12, the Greater Noida Industrial Development Authority (GNIDA) approved the Master Plan 2041, marking an important step in the expansion and development of India’s satellite town of Greater Noida. The master plan presents a thorough vision for the growth and modernization of the city.
The anticipated purchase of an additional 40,000 hectares of land for the construction and expansion of Greater Noida is one of the main components of the Master Plan 2041. In the ensuing decades, this growth program intends to meet the city’s expanding population and urban needs.
Greater Noida currently occupies 31,733 hectares of land. The city is anticipated to cover roughly 71,733 hectares after the Master Plan 2041 is put into action, reflecting a major expansion of its geographic scope.
The city’s urban development is mapped out in this master plan, which also defines the formation of necessary amenities and infrastructure as well as the distribution of land between residential, commercial, industrial, and recreational uses. Greater Noida’s growth is anticipated to promote urbanization, economic development, and an improvement in the standard of living for its citizens.
The Master Plan 2041’s approval denotes the local government’s strategic and forward-looking strategy to meeting the changing requirements of a growing population and building Greater Noida’s urban environment sustainably.
The suggestions of the Amitabh Kant committee report on abandoned housing projects were reviewed by the officials present at the board meeting of the Greater Noida Industrial Development Authority (GNIDA). In order to help the 2 lakh homebuyers who have been impacted by project completion delays, the Kant committee study focuses on strategies for reviving delayed housing projects.
Amitabh Kant, the former CEO of NITI Aayog and India’s G20 Sherpa, is the chairman of the Kant committee, which has produced a number of proposals to address the problems with stalled housing projects.
Implementing a ban on the payment of builders’ dues to the government is one of the main recommendations. Developers would benefit financially from this, enabling them to finish housing projects that have stalled or been delayed. The suggested strategy calls for developers to pay off their debts progressively over time.
The committee also stresses the significance of setting a fair interest rate and giving projects its highest priority. The objective is to deliver a workable and efficient way to restart stagnant projects, which will benefit both developers and homebuyers.
A final decision won’t be made until after similar meetings with the Noida Authority and the Yamuna Expressway Industrial Development Authority (YEIDA), which took place while the GNIDA board was discussing the Kant-panel report. These authorities frequently experience problems with real estate projects, so a coordinated strategy is being explored to create uniform policies and remedies.
The proposals made by the Kant committee show a proactive approach to addressing the issues facing the real estate industry and offer a framework for resurrecting abandoned housing projects, which could benefit the local real estate market and homebuyers.
The approval of Greater Noida’s Master Plan 2041 denotes a thorough approach to the city’s development, especially in its second phase. The master plan describes many areas of urbanization and growth, and its execution is anticipated to have a number of impacts, including:
1. Industrial Development: Greater Noida’s industrial development will be fueled by the Master Plan 2041. In keeping with the city’s function as an industrial hub, the plan recognises the need for more land to facilitate the expansion of industrial projects. This action might draw in investment, increase economic activity, and aid in the creation of jobs in the area.
2. Mixed-Use Development: Another important aspect of the plan is the land set aside for mixed-use development, which blends residential and commercial uses. This strategy promotes a healthy urban setting where citizens have access to both residential areas and business amenities.
3. Development for Residential and Institutional Uses: The master plan acknowledges the significance of setting aside land for residential and institutional uses. This makes sure that the housing demands of the expanding population are met while also taking into account institutional requirements for education and other things.
4. Green Spaces and Transportation: The plan’s provisions for landscaping and transportation infrastructure support a connected and sustainable urban environment. Green spaces improve the appearance of the city and offer recreational activities, and transportation infrastructure promotes effective resident mobility.
5. Anticipating Future Demand: The choice to purchase extra land for Greater Noida’s second phase represents an expectation of future demand brought on by elements like industrial growth and the forthcoming Noida International Airport in Jewar. The expansion of transportation and communication around the airport could result in a rise in the demand for land for a variety of uses, accelerating urbanization and economic growth.
In conclusion, the Master Plan 2041’s adoption paves the way for Greater Noida’s growth to be approached strategically and holistically. A forward-looking approach to urban planning is evident in the plan’s provisions for varied land uses and infrastructure, which are intended to produce a well-rounded and prosperous urban environment for citizens, enterprises, and industries.