Jewar Airport Noida will be a game changer for the Greater Noida Property Market

Jewar Airport Noida will be a game changer for the Greater Noida Property Market

Jewar Airport Noida will be a game changer for the Greater Noida Property Market

real estate6aIncreasing commercial activity will ensure employment opportunities which will increase the demand for residential as well as commercial property.

Prime Minister Narendra Modi today laid the foundation stone of Jawaharlal Nehru International Airport which, once completed, will give a major boost to the property market in Noida, Greater Noida and Yamuna Expressway.

“The region was formerly a haven for speculators and needed significant impetus to attract end-user demand. To make an area end-user-centric and livable, infrastructure projects such as airports can help launch more real estate developments, including housing, commercial, retail and hospitality projects, ”said Santosh Kumar, Vice President, ANAROCK. Group.

“Once operational, Jawaharlal Nehru Airport will be a major game-changer for the hitherto obscure property markets of Noida and Greater Noida and the surrounding space,” he added.

Notably, after the outbreak, demand was increasing to some extent in the relatively affordable markets of Noida and Greater Noida. The focus on Noida and Greater Noida has multiplied the residential and commercial real estate segments. The airport will help further this demand.

Property consultants and developers also welcomed the decision, saying the airport would boost the overall growth of the Noida and Greater Noida areas.

Amit Goyal, CEO, India Sotheby’s International Realty, said, “This is a big plus for commercial and residential real estate in Noida, Greater Noida and the Taj Expressway. The new upcoming airport has changed the dynamics of NCR real estate and brought the Noida region on par with Gurugram. The current prices of land and apartments and office rent in this region are much lower than Guruguram and if the timeline for delivery at the airport comes on schedule, we believe that this gap will be significantly reduced. As expected, rates will also start to move. ”

In addition to airports, IT parks, industrial corridors, Film City and other infrastructure projects in the vicinity are expected to boost the real estate market over the next decade. “The abundant availability of land parcels and the already developed infrastructure provide many opportunities for real estate developers and investors to bring projects into the area,” Goyal added.

Ankita Sood, Head of Research, Housing.com, Makaan.com and PropTiger.com, said, This will provide much needed connectivity to these areas, increasing real estate sentiment among property classes. We already see that residential demand in the micro-markets surrounding the upcoming airport has gained momentum in September 2021, despite the second wave of Covid-19 pushing back to 2020 levels. “

Amit Modi, Director, ABA Corp and President-elect CREDAI Western UP, said, “The inauguration of Jawaharlal Nehru International Airport will be a game changer for the Noida region. The city will be placed on a global logistics map. The state government has always been supportive and proactive in terms of development opportunities, ease of doing business, etc. The airport will now bring economic benefits to the region and open up sources of employment in the construction business. It will also boost corporate travel and leisure opportunities and bring Noida and Greater Noida on par with the Millennium City of Gurugram. ”

Increasing commercial activity will ensure employment opportunities which will increase the demand for residential as well as commercial property.

“Today is the biggest day for the Yamuna Expressway and the NCR region. The region has already seen huge investments which will result in economic development not only of the YEIDA sector but of the entire state. Increasing commercial activity will also ensure employment opportunities which will increase the demand for residential as well as commercial property. I personally see a lot of future for real estate now, ”said Manoj Gaur, CMD, Gours Group and Vice President North, Credai. The Yamuna Expressway group has almost completed a township of 250 acres – Gaur Yamuna City.

Deepak Kapoor, Director, Gulshan Group, said, “The inauguration of Jawaharlal Nehru International Airport is good news and will definitely put Noida on the world map. This will lead to a lot of investment from many industries, and HNIS, a new division of the corporate class with UHNIs, will evaluate the city for long-term income opportunities due to high-end infrastructure such as seamless connectivity and Film City. In the meantime, real estate is emerging as a viable option. We are excited to see the rapid development and support from the government, and we look forward to seeing the airport fully operational. “

Developers said demand for residential and commercial real estate is changing as a new class of corporate buyers and investors will enter the market.

“Real estate will be one of the most important areas that will drive sustainable growth and we expect the city to change its horizons as the airport and Film City become operational. Demand for this specialty has grown significantly as more and more corporate buyers and investors are entering the market. An electronics and mobile accessories hub could be set up near the Yamuna Expressway, with the upcoming international airport attracting a number of companies interested in investing in the electronics sector, ”said Yash Miglani, MD, Migson Group. .

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