close

News WrapGet Handpicked Stories from our editors directly to your mailbox

Big impact! How Jewar Airport is turning Noida, Greater Noida into money magnets for investors

After the Jewar Airport announcement by Modi and Yogi government, Noida is able to match with Gurgaon as the industrial land price in Noida is 25-30% lesser than Gurgaon.

Big impact! How Jewar Airport is turning Noida, Greater Noida into money magnets for investors
The industry insiders say that around 20 queries for industrial investments have come and a majority of them were earlier interested in investing in Gurgaon. Representation image: Reuters
Written By: Asit Manohar
Updated: Fri, Mar 08, 2019
04:24 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Jewar Airport: Spreading wings! New Greater Noida metro line approved by Yamuna Expressway Authority Jewar Airport: Spreading wings! New Greater Noida metro line approved by Yamuna Expressway Authority
Jewar international airport: It's official, bids open for developing Rs 15,000-cr airport Jewar international airport: It's official, bids open for developing Rs 15,000-cr airport
NIAL invites global bids for developing Rs 15,000-cr Jewar airport: Officials NIAL invites global bids for developing Rs 15,000-cr Jewar airport: Officials
Jewar airport: UP govt approves Rs 894.53 cr for rehabilitation of affected families Jewar airport: UP govt approves Rs 894.53 cr for rehabilitation of affected families
Jewar Airport Update: What to expect from Modi govt 2.0? Jewar Airport Update: What to expect from Modi govt 2.0?

On account of better infrastructure and better law and order in Noida getting combined with the proposed Jewar International Airport, industrial investors are shifting their focus from Gurgaon to Noida, Greater Noida. The industry insiders say that around 20 queries for industrial investments have come and a majority of them were earlier interested in investing in Gurgaon as there was an airport. but, after the announcement of Jewar Airport by both Yogi and Modi government, the investors have started nurturing the possibilities to invest in Noida, Greater Noida region instead of Gurgaon.

Commenting on the reason for this shift in focus of the industrial investors Aditya Ghildiyal, President, Greater Noida Industries Association told Zee Business online, "Around 20 odd big industries from Europe have shown interest in investing in Noida after the revival plan of the Jewar International Airport being announced by both central and the state government. Those investors are of the opinion that law and order situation and infrastructure in Noida is better than Gurgaon. the only lack in Noida was the airport which is getting fulfilled through Jewar Airport. So, a good number of investors have shifted their focus from Gurgaon to Noida. In fact, some of the existing companies of good repute in Gurgaon have also shown their interest to shift from Gurgaon to Noida as they are unable to bear the business burning caused by the traffic jam problem in Gurgaon."

See Zee Business video below:

Commenting upon the economic viability while investing in Noida in comparison to Gurgaon, Ghildiyal of Greater Noida Industries Association said, "Land prices in Noida is around 25-30 per cent lesser than the industrial land prices in Gurgaon. This is also a major reason for investors shifting their focus from Gurgaon to Noida as infra and other facilities sought by the industrial investors will be almost same once the Jewar Airport begins operation."

Supporting Ghildiyal's point of view, Vipin Malhan, President, Noida Entrepreneurs Association said, "In the current scenario, the only advantage that Gurgaon has over Noida is the airport. Otherwise, Noida is a much better place for industrial investment. The Jewar Airport and proposed airport metro line would fuel industrial investment in the ITES and service sector as it prefers to proper connectivity that can save time and provide quick access to the airport and their office. The Jewar airport metro line will do the same in this regard."