Noida, Uttar Pradesh Dec 4, 2021 (Issuewire.com) - Will Jewar airport change the fortunes of Yamuna Expressway and Noida real estate markets?
The airport is being developed by Yamuna International Airport Private Limited (YIAPL), a 100 percent subsidiary of the project's Swiss concessionaire Zurich International Airport AG.
The unique distinction of Uttar Pradesh in providing unmatched air services in India is in keeping with the Government's commitment to ensure uninterrupted multi-modal connectivity on land, air, railways, and water. PM Modi's GatiShakti National Master Plan has infused a sense of urgency into the plans for infrastructure development in the state.
With Jewar airport, UP to become first Indian state to have 5 international airports
"The mega airport project in Jewar will not only give big momentum to the development of the region but also fast track Uttar Pradesh's overall growth," the statement said.
In an official statement on Thursday, the government mentioned other airports in Uttar Pradesh and said that the Kushinagar International Airport was inaugurated recently, while work is going on in full swing at Ayodhya International Airport. The airports in Varanasi and Lucknow were the first in UP to gain the distinction of operating as international airports.
Jewar airport to help the growth of the real estate sector in the region
“This is a big plus for the commercial and residential real estate in Noida, Greater Noida, and Taj Expressway. The new upcoming airport changes the dynamics of NCR real estate, bringing the Noida Region, at par with Gurugram. Current land prices, apartments, and office rentals in the region are far lower than Gurugram, and if the timelines of delivering the airport come through as per schedule, we believe the gap will narrow substantially. In anticipation, the rates will start moving as well,”
Real estate will be one of the most crucial sectors that will be pivoting towards consistent growth. The demand for residential and commercial real estate will be undergoing a sea of change as a new class of corporate buyers and investors will be entering the market. “An electronics and mobile accessories hub near region could become a reality in the Yamuna Expressway area, with several companies showing interest in the region for investment in the electronics sector also due to the upcoming int
Gamechanger for the region of Noida
Amit Modi, Director, ABA Corp & President-elect CREDAI Western UP, "The inauguration of Jewar Airport is going to be a gamechanger for the region of Noida. It will be establishing the city on a global logistics map. The state government has always been very supportive and proactive in terms of development opportunities, ease of doing business, etc. Now with this airport, the region will reap economic multiplier benefits, it will also open sources of employment in the construction business. It will also be giving a boost to the corporate travel and leisure opportunities, and bring Noida and Greater Noida at par with the millennium city of Gurugram."
The inauguration of an airport always has a rippling kind of effect on the nearby regions in terms of a spike in business activities, employment opportunities, etc. We expect the commercial real estate will offer attractive avenues of investment, with the growing infrastructure Noida will also establish a competitive advantage over other NCR regions.
Real estate companies and consultants believe that the proposed international airport at Jewar in Uttar Pradesh will boost the property market of Noida and Greater Noida and bring both of them at par with Gurugram. Let us inform you that Prime Minister Narendra Modi on Thursday laid the foundation stone of Noida International Airport in Jewar, Uttar Pradesh. It will be one of the largest airports in Asia.
1) Noida International Airport at Jewar, Uttar Pradesh is being developed by Flughafen Zürich AG (Zurich Airport)
2) This airport will be handelling 60 million passengers per annum in the future.
3) Prime Minister Narendra Modi had laid the foundation stone of the Noida International Airport
Do you remember how the real estate of Gurgaon took boom after the launch of Indra Gandhi International Airport (IGI), T3 and what exponential growth Gurgaon took within a decade of Airport development? "Therefore, its time for investors to be visionary and make the most of their wealth from the real estate of Noida territory," says Abhishek Raj, CEO at Jenika Ventures LLP
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