Noida has emerged as a major commercial hub in the past decade due to its seamless connectivity with other urban cities, strategic location of sectors, and excellent infrastructural development. The city’s world-class amenities, smooth public transportation services, and green areas that offer serenity in a fast-paced environment appeal to both organizations and their employees. This has led to a significant demand for more office spaces.
With most of the city already developed and its commercial areas rented, the authorities have been compelled to initiate a new master plan that would transform undeveloped regions of Noida. Implementing this new developmental plan will make way for more commercial spaces, hospitals, IT services, and industries. Let’s explore how this master plan will benefit commercial spaces for rent in Noida and real estate companies in Delhi NCR.
Noida Master Plan 2031
The Noida Master Plan – 2031 outlines an encouraging route for the development of the city with complete urban development of industrial zones, economic districts, and creative initiatives.
The underdeveloped sectors of Noida will be designed in a grid system to divide the areas into several parts that will lead to a cohesive, self-sufficient society. The upcoming commercial areas will strategically be placed close to high-density residential areas, with a central commercial center and a uniform distribution of office spaces. It will be done to provide ample recreational and green spaces, which will host essential amenities, and the whole area will be near a railway station complex for seamless connectivity.
The new plan also proposes increasing the land distribution for commercial areas and industrial sectors to 581 hectares and 2806 hectares, respectively. If approved, these amendments will increase the Floor Area Ratio (FAR), enabling the construction of more commercial units within the same land area, leading to a higher supply without any horizontal expansion. Such developments will facilitate vertical development and open doors for cheaper yet high-quality office spaces.
This will benefit real estate companies in Delhi NCR by enabling them to build taller buildings that can accommodate a large number of corporations. These buildings will be developed without an outward expansion and will promote an efficient use of land resources. Developers expect these changes to significantly impact the future of business growth and the real estate economy due to the vertical expansion of buildings.
However, Noida’s future has a lot more in store than building expansions. Authorities have allocated thousands of hectares for institutional development, including university campuses, medical clinics, and coaching institutes. One key advantage of this objective will be creating job opportunities and employment through the growth driven by these institutions and technological industries. Special service centers will also be planned across wide roads and expressways for the IT sector to thrive through vertical expansion. This potential for job creation will significantly impact the future of commercial real estate in Noida. In conclusion, the authorities will leverage the master plan as a developmental opportunity to establish the city as the ideal hub for economic growth and commercial development. With the proposed amendments showcase a complete advancement of urban development, with a special focus on commercial spaces for rent in Noida, industrial zones, and economic districts. The implementation of this plan can enable real estate developers in Delhi NCR to create buildings with world-class and environmentally sustainable infrastructure. The Noida Master Plan – 2031 is undoubtedly visionary in its proposal, but an effective implementation will be required for comprehensive planning and long-term growth.