Security clearance for Jewar Airport- a booster for realty development

The security clearance by the Centre to Swiss firm developing Jewar Airport, has opened doors for rapid real estate development .

Swiss company, Zurich Airport International AG had emerged front runner in financial bidding to bag this mega infrastructure project. Undertaken by Noida International Airport Limited, this is the largest airport development in India. The airport will come up over 5000 hectares at a cost of Rs 29560 crore. It will be developed over four phases. The first phase will be spread over 1200 hectares. Jewar airport is expected to begin operations by 2023.

Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global, and Chairman-ASSOCHAM, National Council on Real Estate, Housing and Urban Development, “The security clearance has set stage for rapid realty development in the region. The regional, national & international air connectivity will be a catalyst for massive development along Yamuna Eway and surrounding areas. The large scale residential and commercial development in Greater Noida, Ghaziabad etc will enhance investment potential in the region.

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