Jewar airport to be a big booster for real estate growth

Following the foundation stone laying of the Jewar Airport in Greater Noida, by the Prime Minister Narendra Modi, real estate in the NCR region is set for a big growth.                   

The airport will be developed in four phases. The first phase with 2 runways , will be developed over 1334 acres at a cost of Rs 5730 crore. In all, the airport will have 5 runways. The first phase of the airport will be operational in Jewar airport is strategically located with 72 km distance from IGIA, New Delhi, 40 km from Noida . It will have easy access for the residents of not just Noida and Greater Noida but also for the residents of Delhi, Gurgaon, Agra, Meerut etc.  

The upcoming airport will have multi- modal connectivity due to it’s proximity to Yamuna Expressway, Eastern Peripheral Eway. It will be linked with Delhi- Mumbai Eway at Ballabgarh, Khurja-Jewar NH91and Dedicated Freight Corridor. Besides, there will be Metro extension from Jewar Airport to IGIA. There will be Delhi – Varanasi high speed rail network from airport terminal .  There will be lot of real estate development- residential, commercial  hospitality and industrial-  alongside the airport including Heritage City, Film City, Medical Device Park, Apparel Park, Defence Industrial Corridor , multi modal integrated cargo hub. An Aero City is proposed to be developed along the airport.  Says Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham National Council on Real Estate, Housing and Urban Development, ” The airport will give a new push to housing , hospitality , commercial office and retail real estate developments. Plotted developments along Yamuna Eway will get a big thrust.It is not only Noida, Greater Noida, Ghaziabad real estate that will get benefited from the development of the airport. Because of airport’s proposed connectivity with Gurgaon, Delhi, Ballabgarh etc, the real estate in these NCR areas will also get a major impetus, with affordable housing particularly getting a boost”.

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