Real estate in Noida has been experiencing a flat curve for the past few years due to the pandemic’s impact in India. There has been a lot of speculation in property in Greater Noida and the Yamuna Expressway in the current years. While these regions appeared to be promising to consumers, they were difficult to live in. However, recently, PM Narendra Modi laid the foundation stone for the Jewar International Airport, which is expected to boost the Noida, Greater Noida, and the Yamuna Expressway real estate once it is completed. So, if you are looking for flats for sale in Noida and Greater Noida region, 2022 might be the best time to buy!
The areas surrounding the Airport projects were once speculator havens, and they needed a lot of help to attract end-user demand. An infrastructure project like the Jewar Airport Noida can help kick-start new real estate developments, including housing, commercial, retail, and hospitality, to make an area more end-user-centric and liveable. Property consultants and developers listed on Nobroker.in praised the decision, saying it would help the Noida and Greater Noida sectors grow more quickly with the boom in commercial real estate investing.
About the Project
The Noida International Airport is being built using the public-private partnership concept. Uttar Pradesh claims that when the Jewar airport is finished, it will be the largest in India. According to officials, the project will be developed in four parts and will cost Rs 30,000 crore ($4 billion) in total.
The airport in Noida will have an interconnected cargo centre to decrease logistical costs and time. Yamuna Expressway, Eastern Peripheral Expressway, Western Peripheral Expressway, Delhi-Mumbai Expressway, and roads and highways will connect Noida and New Delhi to the airport.
Real Estate Benefits of Noida Airport
Like any other mega-infrastructure project, the new airport in Noida is expected to increase economic activity in the Noida and Greater Noida areas. Noida International Airport would not only relieve traffic congestion at New Delhi’s International Airport (IGIA), but it will also create jobs in Noida, Greater Noida, and along the Yamuna Expressway once it is completed.
While some real estate experts said the airport would improve the fortunes of its surrounding areas like property in greater Noida or Yamuna expressway real estate, others said the real benefits would accrue after 8-10 years. This makes the current timing a golden period for people searching for flats for sale in Noida and want to invest in commercial real estate investing in areas like Noida, Greater Noida and Yamuna expressway.
Many experts also believe that actual benefits of price appreciation and increased real estate activity in residential, commercial, and retail will only be evident once the project shows visible signs of construction or is near completion.
As a result, certain housing estates along the Yamuna Expressway have effectively become ghost towns. The majority of the residential stock that grew in these areas was students from nearby universities. According to experts, the new airport will attract more end-users, resulting in long-term capital appreciation rather than speculative gains, improving the real estate market in India.
Wrapping Up
The new airport in Noida is looking to transform the real estate market in India, especially areas surrounding Noida, into something extraordinary. So if you’re looking to invest in the same, look at flats for sale in Noida on Nobroker to find the best deals.
