The construction of the phase 1 of the flagship Jewar Airport project in Greater Noida is set to start soon with the Gautam Budh Nagar administration completing the process of land acquisition, handing over the entire 1334 acre of land to Yamuna Expressway Industrial Development Authority (YEIDA).
The process of land acquisition was started in August last year. With the acquisition of the last tranche of 18 hectares of land, the process of acquiring complete land has been completed in record time of seven months. With this the YEIDA is expected to start construction work on the first phase of the project over the next few months this year. To be developed at a cost of close to Rs 30000 crore , Jewar Airport will be spread over 5000 hectares. The first phase of the project spread over 1334 hectare is likely to be completed by 2023.
Says Pradeep Aggarwal, Chairman, Assocham National Council on Real Estate, Housing and Urban Development and Founder & Chairman, Signature Global, ” The speedy land acquisition has not only set the stage for early start of construction but also timely completion of the greenfield airport. This has brightened the prospects of rapid real estate growth in Greater Noida, Yamuna Expressway, Noida and Ghaziabad, making it an investment- friendly region”.