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Jewar airport gives wings to Noida real estate sector?

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Jewar airport gives wings to Noida real estate sector?

  • 16 Jun 2023

Jewar International Airport project holds significance as any kind of development in terms of infrastructure indicates a growth of real estate in the region.

There have been rumours of a resurgence in the real estate market in Noida and Greater Noida ever since Yogi Adityanath took office and shown interest in resurrecting the Jewar International Airport project. The Jewar International Airport project is important because any form of infrastructure development signals an increase in the value of real estate in the area. According to experts, development like the construction of an airport will provide the area's real estate the much-needed boost it needs since the demand for property will increase.

With consumers and homebuyers returning to the market, the real estate sector is in a revival mode and sentiments are favourable. Several more actions have been made by the government to support the housing industry. The real estate industry is anticipated to experience numerous favourable changes as a result of the Real Estate Regulation Act, which will go into effect in May 2017. Many homeowners, particularly first-time purchasers, would find Noida and Greater Noida to be an affordable option as prices in Delhi and Gurgaon reach high levels. All of these elements could contribute to Noida and Greater Noida having a robust real estate market if Jewar Airport is built.

According to Amit Modi, director of ABA Corp and vice-president of CREDAI Western UP, infrastructure growth in the area is directly related to the growth of real estate, so developments like the airport at Jewar will help boost demand in the markets for Noida and Yamuna motorway. "Building an airport in this area is crucial for the convenience of the local populace because people from Agra travel there to catch flights out of IGI Airport.The real estate market in Western UP may benefit from Jewar Airport. With the opening of an international airport, the real estate market in Noida and Greater Noida would increase due to the expansion of the local commercial, industrial, institutional, and residential sectors. With the airport becoming a reality, there will also have a multiplier effect on the economy because it would increase demand for housing and office space in and around Greater Noida, as well as lead to high capital gains.

It is imperative to construct an airport in this area because travellers from Agra use IGI Airport to board flights. As a result, having an airport in the area will greatly improve the comfort of the local populace. The real estate market in Western UP may benefit from Jewar Airport. With the opening of an international airport, the real estate market in Noida and Greater Noida would increase due to the expansion of the local commercial, industrial, institutional, and residential sectors. The airport will have an economic multiplier impact since it will increase demand for housing and office space in and around Greater Noida, as well as cause substantial capital appreciation, Modi continued.

The Aviation Ministry contemplated building an airport in Jewar to help with the capacity and traffic problems at the Indira Gandhi International Airport (IGIA). It will be one of the major changes that could boost economic activity and consequently raise demand for Noida's real estate market. According to Anurag Jhanwar, business head for consultancy and data insights at PropTiger.com, Housing.com, and Makaan.com, several projects have been started in the past 15 to 16 years with an eye towards the future construction of Jewar International Airport. Homebuyers should keep an eye on areas like 19, 25 and 22D on the Yamuna Motorway, recommended Jhanwar, in the hopes that this type of economic activity will raise the demand for the real estate sector.

According to Anurag Jhanwar, business head for consultancy and data insights at PropTiger.com, Housing.com, and Makaan.com, numerous projects were started in the past 15 to 16 years with an eye towards the future construction of the international airport at Jewar. Homebuyers should keep an eye on areas like 19, 25 and 22D on the Yamuna Motorway, recommended Jhanwar, in the hopes that this type of economic activity will raise the demand for the real estate sector.

For Modi, this is the best time to tap into the Noida market as any kind of development may affect the prices. “Amongst NCR, Noida and Greater Noida have emerged as the best option for investing in property, promising a bright future in terms of living as well as appreciation in prices. It has become a hot spot for real estate investments in NCR. Hence, the Noida market is currently a buyers’ market a

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