Noida Airport is going to be inaugurated this month. Uttar Pradesh Chief Minister Yogi Adityanath informed on Wednesday that the state government has invited Prime Minister Narendra Modi for this historic inauguration. An invitation has been sent to PM Modi to inaugurate Jewar Airport on March 28.
Noida The airport is being considered as a revolutionary change for the real estate sector of Eastern NCR. Local developers believe that with the opening of this airport there will be a huge surge in demand for property in the area. The stir in the real estate market regarding the airport started with the announcement of its construction.
The surge in land prices seen in this area in the last few years was entirely based on ‘future expectations’. Investors have already made huge investments in anticipation of the airport being operational, due to which prices have been ‘factored-in’ to a great extent even before the inauguration. This is the reason why today Yamuna Expressway and the area around Jewar remain the hottest destination in the entire Delhi-NCR in terms of investment.
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Property rates increased rapidly
Many changes are expected in this area after the official inauguration on March 28. Real estate experts say that the operation of commercial flights will not only improve connectivity, but will also give impetus to nearby projects like Film City, Medical Device Park and Electronic Hub. After the inauguration, not only investors but also end-users and big companies will take interest here, due to which this area will emerge as an active economic centre.
Rohit Kishore, CEO, Hero Realty, says, ‘Noida’s real estate market has now reached a turning point, which has completely changed the traditional approach to investment. Noida, which was once seen as an affordable alternative to NCR, has today emerged as a powerful growth hub. The main reasons for this unprecedented change are its modern infrastructure, excellent expressway connectivity, expanding metro network and especially mega projects like Noida International Airport. These developments have created such confidence among investors and buyers that the demand graph is going up rapidly not only in mid-segment but also in premium housing. ‘
In its first phase, this airport will serve 1.2 crore passengers annually, which is planned to be increased to 5 crore in future. Contactless travel via DigiYatra, equipped with CAT III-enabled runways and high-speed security systems, the airport promises a seamless experience to passengers. This airport located in Jewar will reduce the pressure on Indira Gandhi International Airport (IGI) and will bring a revolutionary change in the connectivity of the entire region.
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