Real Estate Hour

Jewar Airport –creating new opportunities for the Noida-Greater Noida region

Greater Noida, Uttar Pradesh will soon have its international airport. Presently under construction, the airport is expected to give thrust to the commercial activities resulting in giving an alternative to Gurugram in Haryana.

The commercial boost will directly foster the demands for commercial space –giving an attractive opportunity, especially to the real estate developers.

The bid to construct the Jewar airport was won by Zurich Airport International. The airport property is spread over 5,000 airports and the first phase is expected to be operational by 2023.

Vice-Chairman of Anarock, Santosh Kumar said, “The new airport will not only increase housing demand but also lead to an uptick in commercial developments like office spaces and retail. In fact, office spaces will eventually and inevitably proliferate along the region as rentals will be relatively cheaper than in Gurgaon and Delhi, without compromising on the purchasing power of the consumers they cater to.”

Moreover, there are a significant number of unfinished stock in the Noida-Greater Noida region, the developers will not engage in new projects before clearing up the incomplete residential projects. The development of the airport has the potential to prosper the Yamuna Expressway and Noida-Greater Noida area.

Many companies have already announced their investment plans in the region. These investments will benefit the commercial as well as the residential real sectors. ANAROCK claims that the impact of the airport will be clearly visible within 8-10 coming years.

Jewar Airport will not only decongest the stress of the IGI airport but will also create several opportunities for the overall development of the region. The past few years have witnessed a severe crisis for the real estate sector, Noida-Greater Noida being one of the hardest-hit regions across India.

Noida is more affordable then Delhi and Gurgaon, still it has not able to attract the market due to the lack of proper public infrastructure. With the new airport, the region will foster the development of the critical infrastructure, consequently driving more end-user to the region.

 

Recent Posts

Aftermath of Sambhal Violence: Security Tightened, 400 Suspects Identified

The recent violence in Sambhal, Uttar Pradesh, has deeply unsettled the community, prompting immediate action…

2 weeks ago

Manipur Unrest: Ethnic Violence, Internet Curbs, and the N Biren Singh Government Under Scrutiny

The ongoing crisis in Manipur has become a major concern for India, marked by ethnic…

1 month ago

Delhi Shootout Claims One Life, Injures Two – Minor Suspect Arrested

A recent shootout in the Kabir Nagar area of Delhi has left one person dead…

1 month ago

7 casualties confirmed in Jammu & Kashmir terror attack: 3rd attack in one Week

An armed militant on Sunday killed seven individuals working on a tunnel project in the…

2 months ago

Bahraich Violence Aftermath: 50 arrested and Internet shut down Continues

The recent violence in Bahraich has left the city grappling with a tense aftermath. In…

2 months ago

Meghraj Singh Royal’s Insights on India’s Emerging Role in Global Business Events

"The growth trajectory of MICE tourism in India reflects not just economic potential but also…

2 months ago