RERA in Real Estate: What Buyers and Builders Need to Know
2024-12-23 01:51:26
The Uttar Pradesh government is set to develop a new urban hub, New Agra, along the Yamuna Expressway, approximately 190 km from Noida and 140 km from the upcoming Noida International Airport in Jewar. Spread across 10,500 hectares of land, the city will be built by acquiring land from 60 villages in the Etmadpur tehsil of Agra district.
The Yamuna Expressway Industrial Development Authority (YEIDA) has been tasked with transforming New Agra into a tourism and commercial center. The project is designed to leverage the region's proximity to iconic heritage sites like the Taj Mahal and Fatehpur Sikri, aiming to attract both tourists and businesses.
YEIDA has prepared a blueprint for the development and will soon begin a physical survey to assess land conditions, connectivity, and other factors before submitting a final proposal to the state government for inclusion in the Master Plan 2041.
With the Noida International Airport expected to open in April 2025, New Agra is strategically positioned to benefit from increased tourist footfall. Its location along the Yamuna Expressway and proximity to the Agra-Lucknow Expressway will ensure robust connectivity, boosting its appeal as a residential, commercial, and industrial hub.
The New Agra project will focus on four core segments:
Real estate experts predict that New Agra will significantly reshape the property market in the region. Sunil Sisodiya, Founder of Geetanjali Homestate, highlighted that the city’s size—nearly half that of Noida—positions it as a key destination for residential and commercial investments.
Enhanced infrastructure and affordable housing options are expected to attract both developers and buyers, driving up property values over the next 5 to 10 years. Sisodiya noted that similar urban expansion projects, like Noida and Greater Noida, have proven successful in creating job opportunities, improving quality of life, and boosting the real estate sector.
New Agra aims to become a vibrant, green, and modern urban center that balances tourism, heritage, and industrial growth while addressing environmental sustainability. With strategic planning and infrastructure development, the city is poised to become a significant economic and cultural hub in Uttar Pradesh, offering new opportunities for residents, businesses, and investors alike.
2024-12-23 01:51:26
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