Ready for commercial operations from April 2025, the Noida International Airport, also known as Jewar Airport, is set to connect Uttar Pradesh to the world. This airport will transform the growth and pace of real estate in Noida and Greater Noida in a dramatic manner. With multiple real estate projects coming up in Yamuna Expressway, the Jewar Airport has become the talk of the town. The confidence of Jewar’s residential and commercial real estate market has been boosted since the recent flight testing at the airport. Now, the airport seems a magnet for investors and end-users. Look at key ways that the market influences the real estate market around the airport.
Boost to real estate demand in adjacent areas
With the declaration of the Noida International Airport, Jewar’s proximal areas, including Yamuna Expressway, Greater Noida, and Noida Extension, are witnessing a thrive in the real estate sector. Moreover, many new residential and commercial projects are developing fast in the region. This move also triggers unparalleled hikes in the prices of land. This region is becoming a hotcake for property investors. It is also anticipated that the future growth will be driven by enhanced connectivity and economic activity. Residential options, like apartments, residential plots, and villas, are also offering property buyers long-term investment chances.
The successful first flight validation test at the airport is an important milestone. This is what Sahil Agarwal, CEO of Nimbus Projects Limited, thinks. This achievement brings multiple projects closer to reality.
The Jewar Airport is not the only reason for a growing interest. From industrial parks to medical manufacturing hubs and IT zones to Film City, there are multiple government-planned infrastructure projects that collectively drive the market in the region. That is why the area is expected to experience sustained growth.
Aggarwal adds, “With growing interest from both end-users and investors, we expect demand in this region to remain strong, fueled by the promising infrastructure and economic opportunities taking shape.”
Hike in property prices
In the past few years, property prices in the Jewar area have started to appreciate. In addition, experts predict a significant rise in the future. Experts also estimate that property prices in a few areas of Greater Noida and the Yamuna Expressway will rise by 50% by 2030.
This price appreciation is infused by the projected increase in demand for residential and commercial spaces. Once the airport starts its operations in actually, it will attract development for businesses, logistics hubs, and tourism. Thus, the development will boost the local economy.
A Colliers India report states that land prices in the Jewar area have increased by 40% over the past five years. This price range is predicted to increase by 50% by 2030.
Jewar’s growth as a township is accelerated by giant projects, including YEIDA, International Film City, and Metro Line expansion. Colliers added, “These initiatives have contributed to a land price appreciation of nearly 1.4x in the last five years from ₹5,000 to ₹7,000 per sq ft (2020-2024).”
Enhanced connectivity
The existence of freeways and expressways, involving Delhi, makes the Jewar area a top choice for real estate investors. Retail buyers also see the connectivity in first place. With superb projects like the Delhi-Mumbai Industrial Corridor (DMIC), the Eastern Peripheral Expressway, and upcoming metro extensions, the Jewar area looks like a safe haven for investors. The airport also offers multiple location advantages:
- Agra: Approximately 2 hours and 50 minutes for a distance of 130 km.
- Aligarh: Approximately 2 hours for a distance of 65 km.
- Dankaur, Greater Noida: Another locality to benefit from the airport’s development.
- Faridabad: Approximately 1 hour and 10 minutes for a distance of 53 km.
- Ghaziabad: Approximately 1 hour and 50 minutes for a distance of 75 km.
- Greater Noida: Approximately 50 minutes for a distance of 40 km.
- Indira Gandhi International (IGI) Airport, Delhi: Approximately 2 hours for a distance of 72 km.
- Jewar Town: Approximately 7 km north of the airport.
- New Agra City: Another smart city near the expressway, aiming to boost the leather industry.
- New Vrindavan: A heritage city in the Raya district, promoting tourism and culture.
- Noida: Approximately 55 minutes for a distance of 60 km.
- Sector 150, Noida: A prominent area likely to see real estate appreciation due to the airport.
- Sector 22D, Yamuna Expressway: A developing area poised for growth due to the airport’s expansion.
- Tappal Bajna Urban Centre: A planned smart city near the airport, expected to become a key logistics hub.
These connectivity enhancements are projected to diminish travel time to Delhi, Gurgaon, and Delhi NCR. This connectivity status makes Greater Noida and the Yamuna Expressway a big fit for homebuyers interested in dwelling in less congested areas and getting easy access to prime economic centers.
Commercial real estate opportunities
When it comes to making the most out of commercial real estate, the Jewar airport is supposed to transform the Delhi NCR region into a significant logistics hub. The strategic location of the airport and its proximity to the national capital of India will boost the landscape of commercial real estate. The presence of an airport in Jewar will likely entice warehousing, industrial parks, and logistics companies. Moreover, such companies will seek air and road connectivity to Delhi and other parts of India.
Commercial spaces, like office parks, retail hubs, and hospitality ventures, close to the airport are predicted to boom as business enterprises look to capitalize on the entry of passengers and trade activities after the airport becomes functional.
All these quick factors show that there is a big opportunity for real estate investment in the Jewar region, Yamuna Expressway, and Greater Noida.