Jewar Airport is an Noida International Airport which is all set to be inaugurated in between 2023-2024.The thought behind the building of this airport is to construct a 6 runway airport by the end of 2024, going forward the proposal is to extend the airport into 7,200 acres for a six runway. According to the plan, the airport will be able to incorporate 5million individuals in the start and as soon as the acres get extended then the airport will be able to incorporate 60 to 120 Million People, wherein the expansion will take about 30 years.
Things to know about the Asia’s Largest Airport :
How Will The Jewar Airport Impact Noida Housing Market?
Currently, people living in many cities of western UP and some cities of Rajasthan have to travel to Delhi — a journey of at least two hours — if they plan air travel. An airport in Jewar will be a great help for these people. This airport will not only address the aviation needs of Delhi but also of cities such as Agra, Mathura, Bulandshahr and Meerut. The Union civil aviation ministry expects this airport to give bolster tourism and economic potential of the region.the Jewar airport is the very thing NCR realty is in the need of. The project would touch lives and get back the positivism Noida currently needs more than anything.
Like any other main infrastructure projects that benefit real estate markets, the Jewar airport, too, is projected to change the real estate dynamics in Noida and the neighbouring areas.
An increase in the price of land by 50-100% around the area of the airport. Further, the residential prices will increase from 40-50% in the next five to seven years.
It has also helped in growing and developing the western part of Noida because of the International Airport located in Jewar- which will also help the real estate in fetching investments in the near future.
The price of land close to Jewar Airport in UP, whose first phase is expected to be established by 2023, surged by 100% by an increase in the residential estate to 50% over the next 5-7 years, because of the connectivity of the area that acts as the key feature of the infrastructure project.
Those who have already invested in property markets around the area - the proposed site runs along the 165-km Yamuna Expressway - have little reason to be cheerful if we speak of the present.
Game-changer for Noida, Greater Noida property markets
Besides airports, other infrastructure initiatives underway in the nearby areas like IT parks, industrial corridors, film city and so on are expected to drive the real estate market over the next decade.
Ankita Sood, Head of Research, Housing.com, Makaan.com & PropTiger.com, said, “Jewar Airport will act as a pivotal factor in the overall growth of Noida and Greater Noida regions in the coming times. It will provide the much-needed connectivity to these areas, which will bolster real estate sentiments across asset classes. We already see that residential demand in the micro-markets around the upcoming airport have gained momentum with September 2021.
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