New Okhla Industrial Development Authority (Noida) is a planned, industrial city in the National Capital Region (NCR). Established four decades ago, according to certain surveys Noida is considered to be the most livable city in the NCR and one of the largest industrial townships in Asia. Situated in Uttar Pradesh, Noida is 14 kilometers far from Connaught Place, Delhis central business district (CBD). The New Okhla Industrial Area falls under the Gautam Buddha Nagar district. When compared to most other Indian cities, Noida has more green spaces and wide roads. Since the population in Delhi has grown spreading out to its satellite cities, Noida has become a major real estate destination. Noida is also one of Indias prominent commercial, industrial and IT hubs. Noida is connected to Delhi through the metro line, connecting some key areas of Noida to the capital.
Noida is well-connected to New Delhi, Faridabad and Ghaziabad through transportation networks including metro and buses. Delhi Metro, however, does not extend beyond Noida City Centre. Yamuna Expressway, a six-lane 165 kilometer expressway connects Greater Noida with Agra. The Noida authority has decided to build CNG plants across the city, with CNG being provided to every sector in Noida. The Noida and Greater Noida authority have decided to make all educational institutions, hotels, malls and business enterprises Wi-Fi enabled, too.
Homes and Living
Since its establishment in 1976, Noida has quickly emerged as a major real estate destination, especially in the recent past. Many people prefer to live in Noida because it is believed to have many advantages of Delhi while being more livable. But, in the recent past, there have not been many new launches in Noida because of the slow growth in the real estate sector. Property in Noida, however, has been witnessing a rise in demand. Greater real estate activity is likely to happen in the future, especially in commercial real estate. Many major IT companies have offices in Noida, partly because of easier availability of land, and partly because of norms that allow greater real estate development, like lower degree of land disputes and higher FSI. This has led to greater migration of skilled professionals to Noida, raising demand for housing.
Real estate prices are likely to rise in almost every sector in Noida including Greater Noida, partly because the Noida-Greater Noida Expressway, a six-lane 24.3 kilometer expressway, which connects Noida to Greater Noida is being expanded. Greater Noida is also a gateway to Delhi-Mumbai Industrial Corridor, the largest infrastructure project in Indias history, which is likely to generate jobs along the corridor. Other infrastructural networks in Noida are being expanded, too. The 438 kilometer National Highway 24, which connects Delhi to Lucknow, is being widened to allow greater transport connectivity for residents of Noida and Indirapuram. Five underpasses that allow easier commutes for residents of Noida and Indirapuram to either localities are also likely to be constructed. Property in Noida and neighboring Indirapuram are likely to rise too because currently commuting between these two areas is not easy.
Real Estate and Construction
The floor space index (FSI or the ratio between the floor area constructed in a building to the area of the plot.) in Noida is much higher than Delhi and higher than that of other parts of NCR, though the FSI varies from region to region. Noida authority may soon make all relevant details on commercial, industrial and residential properties available online. Stamp duty and registration charges on residential properties are 12.5 per cent of the transaction value and two per cent of the transaction value, respectively. You can pay property tax online. Property tax in Noida depends on the locality in which the property is situated, and the type of property you own, including the age of the property. Property tax is paid annually.
Noidas population was 642,381 in 2011, according to the Census of India. As of 2011, Noidas literacy rate was 88.58 per cent, and this is higher than that of comparable cities like Gurgaon. Even though Noida does not seem vastly populated, Noidas population was merely 35,541 in 1981 and 1, 46,514 in 1991. Noida was classified as a census town only in 1991. In 2001, Noidas population was less than half of it today, at 305,058. Like other parts of NCR, like Gurgaon, Noida has far more men than women.
Noida is governed by New Okhla Industrial Development Authority (Noida). The headquarters of the Noida authority is in the rapidly developing Greater Noida. The district magistrate has authority over the district. In administrative responsibilities, the Chief Development Officer, the three additional district magistrates and a city magistrate work with the district magistrate. The Senior Superintendent of Police is responsible for the maintenance of law. In certain aspects of implementation of master plans, the Delhi development Authority and Noida co-ordinate with each other.
The Noida prepares and implements masterplans for Noida. The Greatet Noida Development Authority has authority over Greater Noida. When compared to Gurgaon, the private sector has had a much limited role in building infrastructure.
Industry and Employment
Masterplans of Noida were intended to promote small scale industries. Many Information Technology (IT), Business Process Outsourcing (BPO) and IT-enabled services firms have offices in Noida. The sectors, which absorb the largest number of employees, are industries, commercial enterprises, transport and communication sector, and the construction industry. There are many automobile ancillary units in Noida, too. Many energy and power utility companies, too, have offices in Noida. As Noida still does not have a dominant central business district, jobs and commercial activity is not clustered in an area where people commute to shop or meet. Noidas better land use policy has led to greater industrial development while comparable infrastructure is yet to emerge. Noida has more business friendly norms which urged companies to build offices here. This includes special economic zone where TCS, Accenture and GENPACT have offices. Most industries in Noida are, however, small-scale industries.
Noida has some reputed educational institutions including Institute Of Management Studies, Amity Business School, Galgotias College Of Engineering and Technology. BIT Mesra and IIM Lucknow have extension campuses in Noida. For shopaholics, Noida has two of the largest malls in India, Great India Place and DLFs Mall Of India in Sector 18. Other prominent malls here include Garden Galleria, Great India Place, Shopprix Mall, Spice World Mall and Centrestage Mall. Nightlife in Noida is excellent too, as it has many good restaurants, bars and pubs. Noida also has good hotels including Fortune Inn Grazia, Park Plaza, Radisson Blu in Greater Noida, Grand Hyatt and Park Ascent. Noida also has a well-known golf course, a cricket stadium and Buddh International Formula 1 circuit.