New Noida to be Developed as Financial Hub

New Noida, the ambitious satellite city that the UP government proposes to build, has been envisaged as a financial centre, the Noida Authority said as it unveiled a roadmap for what will be the largest such greenfield project in the national capital region.

BY Realty Plus
Published - Tuesday, 13 Jul, 2021

New Noida to be Developed as Financial Hub

New Noida, the ambitious satellite city that the UP government proposes to build, has been envisaged as a financial centre, the Noida Authority said as it unveiled a roadmap for what will be the largest such greenfield project in the national capital region. The master plan for New Noida, which is being prepared by the Delhi based School of Planning and Architecture (SPA), will be ready within 10 months. Planned over an area of 20,900 hectares, New Noida’s span will include 80 villages (20 in Gautam Budh Nagar and 60 in Bulandshahr). “The work (to draft the master plan) was awarded to SPA and we held a meeting with them to discuss the roadmap,” said Noida Authority CEO Ritu Maheshwari. “The demand and need of the local community will have to be accommodated. The city should be developed with environmental sustenance in mind. It will emerge as one of the most coveted financial centres of the country,” she added. SPA had also prepared the 2031 master plan of Noida and was shortlisted for the ambitious assignment last month. The first and biggest challenge will be land acquisition and the SPA has also been SPA to suggest the most feasible models. Urban land consolidation procedures used in other countries will be studied, officials said, among them the land readjustment process followed in Malaysia, urban land replotting in Finland and land pooling models implemented in Japan, Australia and South Korea