“Jewar Airport is all set to become a reality now. The Ministry of Defense has issued the No Objection Certificate for the airport at Jewar, around 30 KMs from district headquarters of Greater Noida. This will be the second international airport in the Delhi NCR region and holds great importance in the overall demographic enhancement of the South-Eastern area of the National Capital Region”
The real estate market in India started flourishing in the late 80s with many housing colonies getting approvals from the authorities. However, the real boom in the real estate market came in the late 90s, a decade later. Talking about the Delhi NCR market, this boom was witnessed in early years of new millennium. Clearly, it was the infrastructural developments that guided real estate growth, across India. Airports hold a very important position in the list of infrastructural developments. Their presence changes the entire geography of a city; Gurugram being the best example.
Noida too is all set to compete with the Gurugrams of the world. Noida too is getting its own International Airport! As per the latest development, the Ministry of Defense has issued the No Objection Certificate for the airport at Jewar, around 30 KMs from district headquarters of Greater Noida. This will be the second international airport in the Delhi NCR region and holds great importance in the overall demographic enhancement of the South-Eastern area of the National Capital Region which includes Noida, Greater Noida, Ghaziabad, Crossing Republic, Rajnagar and Modinagar. With the expansion of NH24 into 6-lane expressway and an already operational Yamuna Expressway, nearby cities of Meerut, Mathura and Agra too shall get traction.
No doubt, Noida and Greater Noida are going to be the biggest beneficiaries of this International Airport at Jewar. Both the cities have best in class urban planning in place. Wide sector roads, well categorized commercial and residential space, sewer and drainage systems and extended Metro Rail make Noida and Greater Noida best-suited cities for MNCs. Global commercial real estate giants have already marked their presence. World Trade Center Association’s CEO Scott Ferguson was in Greater Noida a few days back. They already have an operational WTC in Greater Noida. Many MNCs have started shifting their base to these cities.
The International Airport at Jewar will have a far greater impact on the overall real estate markets in Delhi NCR. It has already crossed the initial hurdle, the land has already been acquired and NOCs from different ministries too, have started coming in. Commencement of the development work is only a matter of time now.