Unfortunately for the last 15 years, it had been a great disadvantage for the real estate markets in Noida due to lack of infrastructure facilities. The centre has recently approved the site for the project of greenfield airport at Gautam Budh Nagar’s Jewar. It will give a huge boost to the real estate market in Noida. It will become a better connectivity for various economic activities.
There will be a positive impact on the housing sector of Noida with the decks being cleared for the construction of Jewar project. It will significantly promote affordable housing with low property prices prevailing around Jewar. The infrastructural intervention for urban development in Noida-Greater Noida will also give a fillip to commercial sector, tourism etc.
The Yamuna Expressway Industrial Development Authority (YEIDA) has notified 3,000 hectares for the project. YEIDA has also decided to revive the high-speed metro link project between Greater Noida and the proposed JewarJewar Airport Project – A Boon for Realty in Noida-Greater Noida international airport. The PPP model for its development will be taken especially in four phases with approximately Rs 15,754 crore to be spent on it.
The infrastructure upgrade with increased connectivity are likely to emerge affordable options for first-time home buyers and propel corporate interest with more companies in the Greater Noida and Yamuna Expressway. The upcoming project will trigger the much-awaited economic activities through various multinational companies to initiate operations in the region.
Chief minister Yogi Adityanath and the Union Civil Aviation ministry are closely monitoring the progress of the project that aims to start commercial operations by 2022. Undoubtedly, the gigantic project will prove to be a blessing for tourism, trade and real estate sector and spur the economic growth in Noida-Greater Noida.
It will probably generate more job opportunities in the region and will further lead to be a blessing for residential segments in its realty.