With Tata Projects winning the bid to build an international airport at Jewar in Greater Noida, the stage is set for its fast tracking , opening immense opportunities for real estate development in the NCR including Noida, Ghaziabad, Gurgaon and Faridabad .
Jewar International Airport is being developed in four phases. The first phase will be developed over 1334 acres at a cost of Rs 5730 crore. The first phase of the mega airport will be operational by 2024.Tata Group will construct the terminal building, runway, airside infrastructure, roads, utilities, landside facilities and other ancillary buildings at the Noida International Airport. The first phase of the airport, complete with passenger terminal, runway and other airport infrastructure , will cater to a capacity of 12 million passengers annually by 2024.
The airport will have multimodal connectivity due to its proximity to Yamuna Expressway, Eastern Peripheral Expressway, besides its linkage with upcoming Delhi- Mumbai Expressway at Ballabgarh, Khurja-Jewar NH 91, Dedicated Freight Corridor and proposed metro connectivity from Jewar Airport to Indira Gandhi International Airport. The National Highway Authority of India (NHAI) has been entrusted with the task to link Noida Airport with the Delhi-Mumbai Expressway through a 31 km long spur from Yamuna Expressway in Jewar to Ballabgarh and connect carriageways of Yamuna Expressway and Delhi- Mumbai Expressway, besides the construction of the road from a spur at Yamuna Expressway to link it with Noida International Airport.
The Jewar International Airport will boost demand for real estate not only in Noida, Greater Noida but adjoining areas of Ghaziabad, Gurgaon, Faridabad. The airport will spur development of residential, commercial, hospitality and industrial real estate in the National Capital Region. Especially as the mega projects of Heritage City, Film City, Medical Device Park, Apparel Park , Defence Industrial Corridor, multimodal integrated cargo hub and Aero City have been planned along the upcoming international airport at Jewar.All this will open up attractive avenues for investment in the entire national capital region.