If you have made an investment in Greater Noida, Noida Expressway or Noida city, you must celebrate now that the work on Jewar Airport has been expedited. The announcement of Jewar Airport was welcomed by all of us in the city of Noida back in 2017.
Today, the same airport has already fetched more than Rs. 10,000 crores investment in this area according to YEIDA (Yamuna Expressway Industrial Development Authority). This is just the beginning of how the airport is going to change Noida forever.
For starters, the airport is expected to establish Noida and the nearby areas, especially along the Yamuna Expressway, as the business center of Northern India. Analysts are hopeful that this airport is going to make Noida, the second Gurgaon, and blow a new life in the real estate here.
The airport is likely to be functional in four years from now, i.e., around 2022-23. As per PwC, this international airport will be able to handle around sixty lakh passengers when its first phase becomes functional. The budget for this ambitious project has been estimated at Rs. 15,000 to 20,000 crores. Spread over 5000 hectares of land, the airport is expected to change the way world looks at Noida.
Once the airport gets over, the real estate in these areas is, understandably, going to be jolted back to life. You can read the following points to understand the impact of Jewar Noida on everyday life.
#1 – Good returns on real estate
For people who have made an investment in the area, the returns are going to be brilliant in five to ten years. The real estate industry in this area was stagnant for the past few years. However, the airport is going to change that.
#2 – Overall development of the area
Various companies are now proposing to set up their offices in Noida. One example is Boeing, which wants to set up a maintenance and repair factory.
Similarly, the increased connectivity is going to increase the number of tourists (onwards to Agra) and corporates coming to Noida, which is, in turn, going to lead to economic and other development of the region.
#3 – Better living standards
Job opportunities, metro connectivity to the rest of NCR, international connectivity, good universities, and open grounds with greenery – all these things lead to better living standards in Noida, which is why soon the area is going to be flooded with professionals (with family and otherwise) as this is going to be the best area to live in a overcrowded Delhi struggling with pollution.
Jewar airport is definitely going to change Noida, which is why investing in real estate here is the wisest decision you can take right now!