Jewar Airport will help revive the real estate markets of Noida, Greater Noida

Infrastructure development is directly related to the growth of real estate in an area. In addition, there are levels of infrastructure development that affect the sector differently. Infrastructure developments such as the airport, subway, rail connectivity, and other similar civic amenities not only provide convenience to the public, but also help raise the profile of the area.
We all know that the proximity to the IGI airport helped Gurgaon establish an advantage over other satellite cities. Similarly, the upcoming Jewar Airport opens a way for multinationals and other corporations to mark their presence around it, as international travel will be easy.

We are witnessing a frenzy of investor activity in all areas of Greater Noida and the Yamuna Expressway, thanks to the upcoming airport. However, there are more investors than end users as these areas still need to focus on the end user. Once the airport comes into existence, it will provide the right boost to the area for the growth of real estate demand in and around Noida, Greater Noida.

Especially, Sector 150 – Noida is receiving a good amount of attention from both investors and end users, as the location is blessed with the presence of renowned developers that are combined with other factors like good connectivity, presence of social infrastructure, proximity to Jewar airport and metro. In fact, it is the first sector of Noida or rather the gateway to Noida from Jewar airport. The area has witnessed great movement in both the residential and commercial segment with the launch of approx. 4500 units and approx. 3000 units can reach the floor by the end of 2021. There are already a large number of residential projects present in the premium and luxury segment. In this segment, developers are offering high-end amenities, cutting-edge design, spacious and digital custom homes to meet the aspirations of upper-ridge home buyers and all of this is in addition to the international standard sports facilities that the Authority of Noida has ordered for each project. By the way, Sector 150 is also one of the least dense sectors of Noida and the entire NCR.

The availability of high-end homes from established developers on an adequate budget is one of the key factors driving the interest of homebuyers seeking lifestyles. Prices are competitive as of now and an appreciation of around 20% -25% is expected in the future.

The area has successfully won private investment. For industrial and institutional purposes so far along the Yamuna highway and, as expected, it has started to attract more investors. Apart from this, a mega food park will be established on 425 acres of land along the Yamuna Expressway in Greater Noida at a cost of Rs 6,000 crore. It is estimated that this development will generate employment for more than 1 lakh people.

Microsoft recently said it will bring its next 4,000-employee campus to Greater Noida. The Uttar Pradesh government is reportedly planning to develop an electronics manufacturing park near Jewar International Airport along the Yamuna Highway connecting Greater Noida with Agra. He has stated that companies planning to start manufacturing will be entitled to subsidies and incentives from the state, in addition to what the Center offers. Many companies such as Tata Consultancy Services (TCS), Wipro and Haier are planning to expand their presence in the area. They have already started their talks with the state government to boost investment in the Noida / Greater Noida regions. Once the airport is operational, Noida and Greater Noida will have the right fuel to drive demand growth in the region. In all likelihood, Noida and Greater Noida will emerge as the city of the next millennium.
Jewar Airport will open to the public in the next five to six years and the total estimated cost of the airport is around Rs 20 billion. The airport will not only enhance the value of the location, but will also write a new growth story in Uttar Pradesh.

Simply put, NCR, also called the ‘North India growth engine’, with its emerging districts like Noida and Greater Noida, is likely to emerge as one of the biggest housing destinations in India. The positive impact of Jewar Airport will not only work for the Noida and Greater Noida markets, but also for the nearby inland areas.

(By Udaivir Anand, Director, ATS Infrastructure)