Infrastructure News

Gr Noida To Develop Central Biz Dist As Airport Takes Off, Infra News, ET Infra

Noida – Greater Noida Expressway.

NOIDA: A central business district (CBD), spread over 1,000 hectares, is part of the Greater Noida Authority’s master plan for 2041.

Along with the corporate hub will be an aerocity, which will be developed on 776 hectares nearby as main supplements for the Noida International Airport in Jewar that’s scheduled for an October 2024 launch.

According to the master plan, the CBD will be well connected by a mass rapid transit system (MRTS) and roads. The CBD will provide space for high-end office spaces, restaurants, hotels, financial institutions, business suites, and more.

Land use in this central commercial core will include a mix of retail, offices, hotels, and other business uses, along with some residential development. The focus will be on creating more business opportunities at a lower cost and promoting the economic development of Greater Noida.

Officials stated that the CBD will be well connected to residential and green areas, focusing on the concept of “live, work, and play”, enhancing the quality of life of residents.

“Considering the fast-growing economy and flexible business models, it is necessary to bring flexibility in the land use models to cater to evolving market conditions and technological advancements. Upcoming activities in mixed-use (hospitality) include hotels, service apartments, and convention parks, in addition to commercial centres like retail, high-end showrooms, shopping malls and centres, exhibition halls, and entertainment hubs. Office spaces and logistic hubs have also been provided for,” said a GNIDA official.

The master plan envisions that GNIDA can develop an aerocity that provides an opportunity to involve the private sector in land development, and various models of public-private partnership (PPP) can be explored.

The draft master plan states that since the area around Yamuna Expressway will take a few years to develop, Greater Noida will be the “first stop” for passengers and cargo coming from the Noida airport towards Delhi and other parts of northern India. The importance of Greater Noida, due to its location and immediate availability of land and ready infrastructure, is very strategic and provides incentives for investment.

In August, the GNIDA board approved the master plan for 2041 and decided to develop Greater Noida Phase 2, which will cover 40,000 hectares.

Phase 1 covers 31,733 hectares, so once both phases are developed, the city’s total area will comprise 71,000 hectares.

  • Published On Nov 1, 2023 at 08:16 AM IST

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