Noida International Airport (Jewar Airport) impact: With the upcoming Noida International Airport at Jewar, real estate properties in Greater Noida and along the Yamuna Expressway are finally expected to see a steady capital appreciation
Noida International Airport (Jewar Airport) impact: With the upcoming Noida International Airport at Jewar, real estate properties in Greater Noida and along the Yamuna Expressway are finally expected to see a steady capital appreciation, according to Anarock research. Prime Minister Narendra Modi today (November 25, 2021) laid the foundation stone of the Noida International Airport, which will be built as the largest airport in Asia.
Experts say that the upcoming airport will not just boost infrastructure in areas surrounding the airport but also give an impetus to the property market in Noida, Greater Noida, and Yamuna Expressway.
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Steady price appreciation
Due to the upcoming airport, Anarock predicts a steady capital appreciation in Greater Noida and along the Yamuna Expressway. “Both Greater Noida and Yamuna Expressway historically aw high investor activity. While the areas always looked promising for end-users, their liveability quotient was a challenge. Many housing projects along the Expressway thus remained unoccupied and were tagged as ‘ghost towns.’ With the new airport drawing more end-users, the region will finally see steady capital appreciation based on actual demand, not speculation,” Anarock research said.
Greater Noida and Yamuna Expressway will also provide new affordable options for first-time homebuyers.
“With increased connectivity and several infrastructure upgrades on the anvil, these two regions will see significant real estate development in the times to come. These regions are more affordable than Gurgaon or Delhi, where prices are largely unaffordable for many. First-time budget-conscious homebuyers will have viable alternatives in these areas,” said Anarock.
Plotted Developments To Gain Momentum
According to Anarock, the height restrictions for developments near airports and the newly-evolved homebuyer preferences post COVID-19 may combine to push up the viability of plotted developments around the Jewar Airport.
In recent times, plots and independent homes have gained a lot of popularity in Delhi-NCR. To illustrate – residential plots around the airport selling at INR 22,000 per sq. yard a year have seen prices increase to INR 30,000-32,000 per sq. yard by now, depending on the exact juxtaposition of the plot vis-à-vis the upcoming airport.