Noida: To make it one of the biggest investment destination, a whopping Rs 8500 crore will be spent in the first phase to develop New Noida, which will also be known as the Dadri-Noida-Ghaziabad Investment Region (DNGIR).
Information indicates that Rs 4500 crore will be spent on the acquisition of 3000 hectares of land, while Rs 4000 crore will be spent for the development of 1500 hectares of land. As soon as the authority receives funding from the government, land purchase will begin.
Ritu Maheshwari, the CEO of Noida Authority, has asked the School of Planning and Architecture, which is in charge of making its plan, to make a financial model. There should be no shortcoming in the matter of compensation, as per the clear instructions, hence the financial plan should be made in such a way that the farmers would get the proper compensation while acquiring the land.
New Noida will be developed across 21,102 hectares spread through 85 villages of Greater Noida and Bulandshahar, where residential, industrial, institutional, traffic and transport, green area, and utility, water body, etc will be available. This will include developing 41 percent industrial areas, 11.5 percent residential areas, 17 percent greenery, 15.5 percent roads, 9 percent institutional areas, and 4.5 percent commercial areas.
This will include 20 villages in Gautam Budh Nagar and 60 villages in Bulandshahar. Big companies like Ikea, Adani, and Microsoft have showed interest in investing in New Noida. With the development of the Dadri-Noida-Ghaziabad Investment Region employment opportunities will also increase and the surrounding districts of Noida will also develop.—Inputs from Agencies
