New Noida, Noida International Airport to be linked, land prices up 800 percent after Adani Group's MoU

The Adani Group had announced that it will invest Rs 500 crore. An MoU was signed last month between the group and the Noida Authority. After the announcement, the land rates for the proposed New Noida has skyrocketed. The villages where land rates for acquisition were between Rs 8-10 lakh per bigha, the prices have gone up to 8 times. 

For New Noida, near the GT Road, the farmers are not ready to give their lands for as much as Rs 80 lakh per bigha. For New Noida, in Anandpur, Nai Basti, Phoolpur, Beel Akbarpur, Luharli, Khurshedpur and Kot till GT road, several small warehouses are being built. Several investors have been showing interest in these lands for warehousing and logistics.

Since the Noida International Airport construction has started, the land rates around these areas are steadily rising.

According to Tricity, Rs 8500 crore will be spent on the development of New Noida's Phase 1. This includes make arrangements for roads and transportation. New Noida and Noida International Airport will also be connected. The Eastern Peripheral Expressway and Western Peripheral Expressway will also be connected with New Noida. 

84 villages of Gautam Buddha Nagar and Bulandshahr will form New Noida. New Noida will be developed over the next 8 years.