With the central government is fast tracking the foundation for NCR’s second airplane terminal in Greater Noida’s Jewar district, the Uttar Pradesh (UP) government is additionally making efforts for an early approval to the airport.
Initially approved in 2003, the plan to build up a international airplane terminal are jewar got slowed down sue to a government policy restricting another airport inside 150 km of Indira Ghandi universal (IGI) airport. Since the Delhi airport is engaging with congestion and steadily rising football, another airport will facilitate the heap. Around 2,200 acres of land has already been obtained for the new Jewar airport project plan which acquired the gesture from Aviation Ministry a year ago.
For the real estate sector, this will be a big boost as the lost demand will come back and several untapped locations will become prominent in the long run. Jewar airport project will revive the real estate market across the NCR which has been enduring with negative sentiments and overall slowdown. “The project can realize major changes in the NCR’s real estate sector, and the essential purpose will be visible in Greater Noida, Ghaziabad, Noida, Noida Expressway and even in Agra to some extent”.
Once the Jewar airport gets to be operational, these markets will experience increased demand and more prominent preference from end users as well as investors. Airport project will help essentially boost the demand for commercial properties in the surrounding areas, similar to the point witnessed in Gurgaon after IGI airplane terminal. The enhanced connectivity may also forecast well for the tourism industry, which will benefits hospitality and retail sectors too. An upcoming airport will positively affect property costs.
People living in numerous urban areas of western UP and a few urban areas of Rajasthan have to go to Delhi – a journey of at least two hours – If they plan an air travel. An airport in Jewar will be an incredible help for these people.
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