n Delhi NCR, Noida is among the top priority destinations for realty investment. Property investors anticipate lucrative property deals in this city. The new Master Plan 2031 is likely to influence the real estate market of Noida in the coming years. Drawn out by Noida Authority, the new master plan has been recently approved by the NCR Planning Board, which is expected to benefit both developers and property investors.
The new Master Plan 2031 was first drafted in the year 2009, which has a lot of scope for residential, infrastructural, and commercial development in the city. As per the plan, a number of projects for widening roads with elevated structure, underpasses, flyovers, greenery environment, highrise buildings, luxury hotels, Metro link, and road linkages are proposed.
Highlights of New Master Plan
As the new master plan states, Noida’s population will be around 25 lakh after two decades. This projected population is 19 lakh more than the current population of this city. On the contrary, land bank in the city is almost saturated to meet prospective residential demand in future. Therefore, the prime focus will be on developing multi-storeyed apartments. Keeping in mind the less availability of land as compared to rising demand of housings, Noida is planning to increase FAR (Floor Area Ratio).
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