Getting wings! Jewar Airport to rejuvenate Noida, Greater Noida commercial and residential properties?
Industry insiders expect huge investment and infrastructural development would fuel demand for both residential and commercial properties in the region.
Hailing the government initiative to kick-start construction of Jewar International Airport in Noida, realtors of Delhi-NCR are expecting a huge leap into the slowing real estate business in the region. They said the initiative would lead to a jump in investment and infrastructural development leading to rising in demand for both residential and commercial properties. They said the international airport would lead to trickle down of the development into the vicinity area that can turnaround whole Western UP
Manoj Gaur, President, CREDAI — National chapter told Zee Business online, “With the rapid construction of Jewar Airport, we are expecting major demand for real estate in the region. Speculations regarding future price escalations are already being made. We are expecting a great push for the existing inventory as well as for the upcoming projects in the region.”
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Speaking about the infrastructure push coming into the region due to the international Jewar airport Amit Raheja, CMD, Wealth Clinic told, “The upcoming Jewar International Airport at Noida is going to fill a major infrastructure gap in the region. Apart from giving a major push to tourism in the region, the upcoming airport will benefit the real estate sector to a great extent. We foresee a push of real estate development deeper into the districts that are closer to the airport. Also, there will definitely be a price escalation once the project goes to the ground and investors and home buyers see the project taking shape. With the airport, we also expect a lot of multinational companies setting up base in and around Jewar. The companies and the ancillary industries which grow around it will lead to job generation."
Raheja went on to add that the airport at Jewar will bring Noida and Gr Noida on international maps. Air connectivity will attract more industries, organizations, institutions and other business verticals from global markets towards this vicinity. After investor summit in UP, Noida expressway has witnessed fast industrial movement and Govt. seems keen to establish manufacturing and industrial hub around Yamuna expressway too.
Expecting trickle down of the development getting in from the international airport to entire Western UP Dinesh Jain, MD- Exotica Housing told, "Organisations and people seeking for new avenues will move towards the Noida, Greater Noida, Jewar, Dankaur etc. Equipped with modern connectivity and ample housing destinations, world-class infrastructure will boost the overall realty sector. In my opinion, Jewar airport is going to add wings to the growth and development of district as well as entire Western UP."
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