Noida International Airport Jewar Impact Real Estate: After the inauguration of Noida International Airport, the real estate market of Jewar is emerging rapidly. Prime Minister Narendra Modi inaugurated this airport on Saturday. About Rs 11,200 crore has been invested in the first phase of the project. Which will have the capacity to handle 1.2 crore passengers every year.
After fully development, the total capacity of this airport will be 7 crore passengers. After the airport is completely constructed, it is said to be India’s largest airport. This six-runway airport will be spread over 7,200 acres. Let us know about this in detail…
The importance of Jewar Airport will increase due to location
Jewar Airport located in Uttar Pradesh holds special importance due to its strategic location. Especially due to its proximity to Agra, where the Taj Mahal is present. There is a plan to develop cargo and warehousing zone in about 174 acres around the airport.
Along with this, many private companies including Adani Group are bidding for the construction of the logistics hub. In such a situation, the growth in real estate around the airport cannot be denied.
Increasing presence of big players
Due to the big industrial projects proposed in this area, the movement of people at the new airport is expected to increase. According to a report published in ET, these include Foxconn’s semiconductor unit, solar manufacturing hub and new factories of cable maker Havells India Limited.
Due to which the entire area is expected to get new momentum. Construction of factories by big companies can also open up new avenues of employment for people. Due to which there may be an increase in the prices of land, houses and other projects in the area around the airport.
Tremendous boom in real estate due to infrastructure and demand
In the last six years, property in some micro-markets of Noida has given returns of almost five times. According to InvestoXpert Advisors, Yamuna Expressway has emerged as the strongest real estate corridor of NCR. An increase of 158 percent has been seen in the prices of flats here between 2020 and 2025.
According to the data, it increased from Rs 3,950 to Rs 10,200 per square foot. At the same time, a jump of 536 percent has been seen in the prices of plots. Which has increased from Rs 1,650 to Rs 10,500 per square foot.
Also read: Historic fall in rupee! Biggest weakness in 10 years, know how the rupee will move in future…
