The new Noida International Airport has attracted several investors to invest in much talked Asia’s biggest airport in Jewar, Greater Noida. This mega-infrastructure will boost the economic activity around Noida and Greater Noida regions at a larger prospect.
Recently, PM Modi laid the foundation stone of the international airport and said, it will change the future of West Uttar Pradesh. This highly-demanded airport will bring many residents around its region and a major transformation in Noida’s and Greater Noida’s infrastructure.
However, it is seen that the building of this airport will boost areas such as Yamuna Expressway, where demand for homes was stuck due to uninspiring infrastructure facilities. Also, the COVID-19 had severely impacted the real estate sector in the last two years bringing the economic activity increasingly down.
With the increased connectivity and modern infrastructure, the West UP will gain economical and infrastructural growth. Also, the first time buyers, who were looking to invest in properties around Noida International Airport, will now be able to find an alternative other than Gurgaon and Delhi. It has also been seen that the average land price across the Jewar region is around Rs.1000 sq. ft to Rs.2,500 sq. ft whereas Noida has an average land price of 5,000 sq. ft. and Greater Noida has around Rs.2,000 sq. ft to Rs.5,000 sq. ft. This new airport will bring back the homebuyers and real estate on track and will change the universe of the region.
With the difference in the average land price, this region will attract residential projects and several commercial projects like offices and retail spaces. The new airport is also going to boost the tourism industry mainly for Mathura and Agra region. This, in turn, will help the nearby cities gain in real estate markets over a longer period.
