Answer:
No, I guess not. Scientists do not know precisely what happens in a black hole, since no information can return through the event horizon. The accepted theory is that at the center of every black hole lies a singularity - a point where the density rises to infinity - meaning mass exists in zero volume. Consequently the curvature of space also reaches infinity.
The black hole cannot be described in terms of classical physics, where the effect of gravity is modeled as a force. Instead, General Relativity is used in which gravity is the result of curved spacetime. Objects - and light, of course -follow what is known as a ‘geodesic’ through spacetime. Equivalently, it is a path that any particle which is not accelerating would follow. In flat space, the geodesics are straight lines. On a sphere, the geodesics are great circles like the equator. A geodesic is the shortest path between two points. For example, two points on Earth is a curved line because the Earth is a sphere. But apparently, geodesics simply lead to the singularity and disappear instead of being continuous. The singularity breaks this continuity, that’s why, what happens at the center of the black hole is not known.
Light travels at a constant speed - but gravity, like motion, tends to shift its frequency without affecting the speed. Therefore, light streaming towards a black hole will be blue shifted as it approaches. It is, however, doomed upon crossing the event horizon. It will never exit that region of space.
There is no such thing as “new space” or “new time”.
