Prime Minister Narendra Modi laid the foundation stone for the Jewar Airport, also known as the Noida International Airport at Jewar, Uttar Pradesh on Thursday. Once operational, the monumental project is expected to be Asia’s and India’s largest of its kinds encompassing an area of 5000 acre development. Conceptualised with an integrated multi-model cargo hub, the airport will serve as a logistics getaway to North India. The people of Delhi, Noida, Ghaziabad, Aligarh, Agra, Faridabad, and other neighbouring areas are effortlessly connected with the rest of the world at ease. Jewar Airport will be a big deal in terms of real estate, infrastructure, tourism and connectivity growth. Red Maple real estate consultants are here to summarize the real estate prospects of the airport.
Jewar Airport will be developed by Zurich International Airport AG at an estimated cost of Rs 29, 560 Crore. The development will be presenting the future of aviation in India, by pushing operational flights to bigger and smaller cities. The location of the Jewar Airport is highly significant in terms of the investments in real estate. It is strategically located about 72 kms from the existing IGI Airport, 40 km from Noida and about 40 km from the multi-modal logistics hub at Dadri.
The airport and its vicinity will have unmatched connectivity through Yamuna Expressway, and Eastern Peripheral Expressway. It will be linked with Delhi-Mumbai Expressway at Ballabhgarh, Khurja-Jewar NH 91, dedicated freight corridor, Metro Extension from Noida to NIA. The facility will be linked to the proposed Delhi-Varanasi High Speed Rail project to reduce the travel time between Delhi and the airport in just 20 Minutes.
Real Estate Growth
The arrival of Jewar Airport will bring great cheer to the real estate sector, especially the investors who are looking to diversify their portfolio. The airport will boost the residential and commercial activities in Noida,Greater Noida and Taj Expressway. It will change the dynamics of Delhi-NCR real estate by elevating the status of Noida in par with the millennial city Gurugram. The land prices, apartments and rental shares of Noida is presently way lower than Gurugram. Once the airport launches, this gap will be narrowed further and the rates can move up as well.
When the timeline of the first phase is completed, the airport will cater to a whopping 12 million passengers annually. Once all the phases are completed, we will witness more international and domestic flights operating all across the world and catering to about 70 million passengers annually. With Jewar Airport, Delhi-NCR will become the first city in the country to have two international airports.
On the sidelines of Jewar Airport, many other infrastructure developments are shaping up to bring robust demand to the real estate of Noida. There are IT Parks, Industrial Corridors, Film City, and many more new infrastructure projects lined up to make a collective real estate growth in the capital city. Despite Noida having more access and infrastructure, the MNCs and corporates always preferred Gurugram over Noida due to the presence of IGI Airport. With Jewar Airport coming up, Noida will have the edge in terms of the most demanded locations for business in Delhi-NCR.
Hailing under the new airport, a lot of massive scale infrastructure and industrial growth is planned in the pipeline for Uttar Pradesh. Some of the developments are the proposed 1000 acre film city (10000 Crore investment), group housing societies from reputed real estate builders, auctioning of plots for collective developments for residential, industrial and hospitality sectors are in pipeline by the authorities. A new section of HNIs and UHNIs will be evaluating the city for opening long term investment opportunities alongside these high end infrastructure developments.
With such highly conducive factors prevailing for real estate investments, it is time for everyone to act. Invest and win in real estate with Delhi-NCRs most experienced real estate consultants. Take a look at our property listings nearby Jewar Airport and get your best quote today itself! Talk with us now!