The proposed Jewar airport is seen as one of the most important infrastructure development of Greater Noida and Noida till date. From the date, the government has made the announcement; there has been a lot of excitement among the real estate market people.
And, if we go by the history it has always been recorded a good boom in the real estate sector after the arrival of an airport. One of the best examples is the development of Gurgaon followed by Mohali and Bhiwadi which are too witnessing a similar boom with the arrival of the airport. Now, as the progress of Jewar airport is getting closer, even Noida and greater Noida can feel the heat for a massive real estate boom.
As of now most of the corporates are choosing Gurgaon for setting up their office due to proximity to airport but now with proposed Jewar airport, things will change soon here also.
After the announcement, Homebuyers and investors are hopeful that it will boost population density in the area. Many realtors who have planned to exit their projects from the region or have already left are planning to move back again. According to them, the airport will definitely bring large investment in commercial, industrial and residential sectors and will fuel growth.
Currently in In Noida, Greater Noida and Yamuna Expressway, flats are available at an average rate of Rs 3,000-5,500/sqft. But once the proposed airport will start taking the shape, the price range will shoot up at a faster rate.
Not only the residential sector, even commercial and industrial sector will also see a boost due to Jewar Airport. Just like Gurgaon, more and more corporates can now change their focus to Greater Noida and Noida region considering it as a secondary location which is cheaper as well.
Talking about the industrial sector, once the construction part of airport will start more and more job opportunities will also grow. If we go by some latest reports, YEIDA is also planning to come up with an attractive industrial plot scheme soon. The officials will also take effective steps to ensure that industries are set up along the expressway and job creation picks up pace.
With proposed roads and Metro line near the Jewar airport, in coming years Noida and Greater Noida real estate market promises exponential returns for investors.