Will the Jewar Airport Boost Noida’s Real Estate Market?

By Akshay Sharma June 28, 2017 Properties

Jewar Airport is a proposed plan to build an international airport in Jewar which is expected to get the nod from the government as the new Uttar Pradesh Government pushes for it.

Where is Jewar?
Jewar is a city in the Gautam Budh Nagar district of Uttar Pradesh and is a part of the NCR. However, Jewar is not very developed irrespective of being in the NCR. This airport is expected to give the region a much-needed real estate boost. Its forecast has already led to huge investments from real estate builders in and around the area. The prices in Delhi and Gurgaon are sky high which means that if this airport becomes a reality the real estate sector in Noida will prosper.

Why Should There be an Airport in Jewar?
The Aviation ministry has been looking for an alternative airport to ease the congestion at the Indira Gandhi International Airport. So it is only a matter of time until the Jewar Airport comes into play. Keeping this in mind the Property builders have launched various property projects in Noida in the last decade all of which are expected to have a significant increase in their value as soon as the commencement is officially announced.

The Airport is Already Affecting the Sector
Many experts from various Real Estate builders believe that this talk of the airport has already affected the prices of apartments in Noida and Greater Noida. The airport is expected to be built in sectors along the Yamuna Expressway so that is where the buyers should keep their focus. The idea of the airport is to have travelers from Western U.P. and Rajasthan to have Jewar as their preferred destination rather than New Delhi. This narrows down that the airport is most likely to be built in the sectors 19,22D or 25 along the Yamuna Expressway. The exact location for the airport is not yet known but it is believed that it will lift the entire region.

Expected Effects
The airport will have an economic multiplier effect which will lead to increasing demands for not only homes but for office spaces and other commercial properties. Some leading property builders of India have stated that there will be a significant spike in prices as soon as they airport comes into play. Both the prices of existing and new projects will rise as it will become a prime destination.

What Should a Buyer Do?
Experts believe that there will be a massive shift in the dynamics of real estate of not only Noida but the entire NCR. Other parts of the NCR are already flying high in terms of property value and do not give first-time homeowners any real chance to invest in the sector. With an impending power shift in real estate, Greater Noida and Noida are currently the best options for an investment. The region’s property prices are expected to rise soon which means this is the right time for a buyer. It is safe to say that when the Jewar Airport becomes a reality it will have a massive effect on Noida’s real estate.