Impact of Jewar Airport Project in Real Estate Industry

Impact of Jewar Airport Project in Real Estate Industry

An infrastructure obstacle of this Jewar airport project is expected to have a highly massive result on the real estate portion. As per the real estate experts, the direct impact would be held in areas within a radius of 30-50 km.

With this project, presumptions are high that areas such as Micro-markets of Noida, Greater Noida, and Yamuna Expressway would be benefited the most. The reason behind this is the moving of national as well as international passengers alighting at the Jewar airport to Noida and Greater Noida regarding accommodation. Now since the airport is situated at a very short distance from Noida and Greater Noida, so because of an easy drive through Yamuna Expressway, the aforementioned micro-markets will be of course quickly easy.

The Jewar airport, which is expected to be completed by 2022, maintained the capability of managing more than 30 million passengers annually, is developed on a cooperative arrangement between two or more public and private sectors commonly known as Public-Private Partnership model. It is located just 70 km away from Indira Gandhi International Airport, and 60 Kms from Noida. This near international airport is foreseen to change the face of the real estate sector in Noida, Greater Noida, and other adjoining areas. Certainly, this airport will be the biggest job creator and thus a piece of big and promising news for real estate markets.

“If there are more jobs in this region, then naturally the demand for housing will rise, thereby boosting business,” – Getambar Anand, President, Real Estate Developers Association of India.

Prominently, it will also generate demands in real estate sectors in Yamuna Expressway and Greater Noida. Furthermore, the metro service in Noida is also likely to get extended up to Jewar for more improving connectivity to the Jewar airport.

Below are some benefits that Noida and NCR will likely to get with the operation of Jewar airport.

1. An ad to heavy investments and greater returns: An investor can easily expect more than 15% per annum appreciation at land prices in proximity to Jewar Airport, and furthermore in five years investors can expect a minimum of 120% returns by the time airport becomes operational.
2. Benefits for Jewar’s landowners: Since the government is in need of huge areas of land for infrastructure development, they will likely to give huge financial benefits to Jewar’s landowners and farmers.

• The Purpose of the property market: This huge infrastructure project will definitely make a huge difference, especially in Noida, Greater Noida, and Yamuna Expressway. These markets are rolling under the immense pressure over the past few years, and thereby requires a fresh shot of opportunity and plan to overcome this plummet.

1. Affordable advantages: Since the Jewar airport is built under the government’s regional connectivity scheme, it will also likely to offer several affordable opportunities and acts as an attempt to push the growth of the region. Besides, after this development, the area of Jewar will likely to get the full-scale attention which was missing more advanced despite the region of NCR. This will certainly boost the real estate sector and makes it a viable option for everyone.
2. Overall Growth: Many companies are now planning to move to set up their offices in Noida. For instance, Boeing, which wants to set up a maintenance and repair factory. Moreover, the number of tourists will also rise due to improved connectivity, which in turn leads to many economic benefits in the near future.

No doubt, investing in real estate in Noida, Greater Noida or Yamuna Expressway, which are in vicinity to the Jewar airport, is the smartest decision one can take right now. This development is definitely going to change the Noida. The airport will trigger the real estate market in Noida and Greater Noida just like the IGI airport did in Gurgaon. This, in turn, will move into demand for residential and commercial property sectors in the region, and we assume to see prices appreciate in the range of 10-15% per annum in the real estate market.

What’s more!!!

In lines with Delhi IGI, an Aerocity has also been planned at the Jewar airport. This besides generating a various range of job openings, will definitely also lead a positive impact on the real estate market. Since the overall growth depends on the speed of development, so as the airport will develop in different phases, the realty market will also catch up the speed constantly.

So, this was all about the assumed contribution of Jewar airport projects in servicing the economic growth of Greater Noida.

Last but not the least, seeing all the positive outcomes of Jewar airport, it would definitely not be wrong to say that as such of several other huge infrastructure development projects, which do improves the real estate markets, it will also enhance the real estate market dynamics in Noida and many nearby cities.