With the land acquisition for the second phase of Jewar Airport beginning in December, real estate in the NCR is set to get a big boost.
According to Yamuna Expressway Industrial Development Authority (YEIDA), 1365 hectares of land will be acquired under phase 2. The process for land acquisition will begin from December 15. The mega international airport at Jewar will come up over 5000 hectares. Already 1334 hectares of land has been acquired for the first phase and handed over to Munich International AG, which will construct the airport. For the third phase, 1318 hectares of land will be acquired while a total 733 hectares of land will be acquired for the fourth phase. The first phase of the airport is expected to be operational in 2023. Jewar Airport will have connectivity with Delhi Metro. And in a recent policy initiative, NHAI has decided to link it with upcoming Delhi-Mumbai Expressway .
Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, ” Despite Corona pandemic, the progress on Jewar Airport being developed by Noida International Airport Limited (NIAL) is on track. The residential, office, retail and industrial developments around the airport, besides a proposed 6000 hectare heritage city, will prove to be major growth drivers. Its proposed connectivity with Delhi- Mumbai Expressway through DND Flyway and metro linkage to IGIA, will prove to be great connectivity booster for the region’s real estate.