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July 27, 2017

Jewar Airport May Give Much Needed Push To Noida Real Estate Sector

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In the greater part of Noida, Jewar International Airport project aims to achieve an impressive infrastructural development which will further lead to significant growth in real estate development in that region. According to the experts, as the development of the area begins with the construction of the airport, it will also give the region’s real estate a great boost as the cost of the property will increase around the airbase. It means that more people will be interested in investing in plot lying across the region.

 

In the mean while, real estate brokers have expressed gratitude towards their chief minister Yogi Adityanath, after he expressed his desire to revive the Jewar International Airport project for the betterment of the real estate society of the region.


After coming in power this year, Yogi’s government has taken some positive approaches to supplement the growth of the real estate industry. As of May 2017, Real regulation Act has been enforced-  Those people who don’t afford to invest in other price regions like the greater part of Delhi and Gurgaon, now with the help of regulation from the government they could easily procure plots across the Noida and Greater Noida. If the airport project gets passed through the regulation authority, then Noida has a some potential of becoming a booming market for first-time house buyers or real estate investors.

Amit Modi of ABA Corp firmly believes that boost in the development of infrastructure will directly affect the housing project in the region in a much positive way. If the plan proposal of Jewar airport gets through the proper regulation then the growing requests in markets of Noida and Yamuna expressway could also be accounted. According to him in a region like this, an airport is a necessity.


As the development of the airstrip begins, Noida will witness an exponential growth in Commercial, Residential, institutional and industrial growth in the region. Also, people from places like Agra, don’t have to travel a long way to IGI Airport to catch a plane.


He also added that these are only primary effects of the Airport development, afterward as time passes the nearby spaces will be crawling with people and with the introduction of new office spaces, the economy of the place will bloom into more strong capital development sector.

 

An airport in this region is a must as people from Agra come to take flight from IGI Airport, hence it is extremely important for the comfort of the resident population to build an airport in the region. Jewar Airport could prove to be a catalyst for Western UP’s real estate market. Real estate scenario in Noida and Greater Noida will improve with the coming of the international airport as there will be residential, commercial, industrial and institutional growth in the area. With the reality of the airport, there will also be an economic multiplier effect as it will bring a lot of demand for the housing sector and office spaces will erupt along with strong capital appreciation in and around Greater Noida,” Modi added.

According to the spokesperson of aviation Ministry of India, if an airport is established in Jewar then it will really beneficial for the boarders of IGI Airport. It would definitely resolve the congestion factor faced by daily commoners of IGI Airport due to excessive demand for flight travel plans. It will also aid in developing the real estate scenario of the Greater Noida. It will also make an impact in our country economic GDP also.

 

Consulting business head Anurag Jhanwar along few online sites like with Housing.com, PropTiger.com, and Makaan.com told Finance Express that most the projects in last two decades started by having development ideas of establishing an international airport in its premises. According to the Anurag with these projects fast development, the price of nearby areas have gone up a bit. As those who are currently looking for houses in these regions are advised to check out the sectors 19, 22D and 25 on Yamuna Expressway.

And as the works began towards the development of airstrip space- Modi said that a sudden demand for inventory as well as nearby establishments is much expected in these cases. With the initiation of the Airport project, prices are guaranteed to escalate exponentially around the region.  

 

For any realtors of both Noida and Greater Noida is not less than a gold mine in making. Among Delhi and Gurgaon like regions, it is the most promising region for real estate investors, looking for economic household investments. If you’re wondering, yes in a decade or so, it will emerge as a prime hub for real estate developments as well as become most developed part of the town.