The aviation market in India is one of the fastest-growing in the world. Delhi Airport is one of the airports which has its fair share of crowding and congestion. The Government of India has planned to establish a second air hub to address this problem namely the Jewar Airport. This intensive project, officially known as Noida International Airport, is located along with the Yamuna Expressway in Jewar. This project has immense scope to boost infrastructure development and increase the demand for commercial and residential plots near Jewar Airport
Meanwhile, if you are looking for investment in the real estate sector near the airport or close to this location, propertywala.com brings you every detail.
Why Look for Plots close to Jewar International Airport?
Make sure to do research before making an investment in a residential/ commercial plot. Accordingly, before making the final decision, learn about the location advantages in terms of connectivity, pricing, and social infrastructure. Below, is the list of advantages of purchasing a plot near Jewar Airport.
BOTH SOCIAL AND PHYSICAL INFRASTRUCTURE:
- The Gautam Buddha University, a popular residential area located near Jewar on the Yamuna Expressway, adds to the area’s social infrastructure, making it a lean residential zone.
- The achievement of Jewar Airport would encourage tourism, providing foreigners direct and easy access to the Taj Mahal via the Agra Expressway.
- Yamuna Expressway also boasts the first and only Formula 1 Circuit in India. So, there are also other sports opportunities. For example, a cricket stadium, a tennis court and, a multi-purpose stadium are also on the list of plans.
- The Yamuna Expressway offers an Intelligent Transport System, which aims to provide maximum safety to travelers, convenience, and security when traveling between Greater Noida and Agra.
- The connectivity between Agra Ring Road and the Noida-Greater Noida Expressway by the Yamuna Expressway. It will soon join with other major cities. For example Gurgaon, Rohtak, Sonipat, and Manesar in Haryana and in Uttar Pradesh – Meerut, Hapur, and Ghaziabad.
- Thus, to reduce travel time and distances. Hence, the Yamuna Expressway will also connect cities such as Lucknow, Kanpur, and Gwalior.
Manufacturing, Logistics, and More:
- The forthcoming Delhi-Mumbai Industrial Corridor will pass through Dadri which would improve the Yamuna Expressway’s directions, warehousing hubs, and special development zones.
- On the other hand, more than ten-10 companies, like the USA, Korea, Japan, etc. are raising manufacturing plants along the Yamuna Expressway near Jewar airport.
- In last, at the suggestion of the Yamuna Expressway, the Industrial Development Authority (YEIDA), has suggested constructing an Information Technology hub with an investment of about Rs.15 crores.
Residential Plots Near Jewar Airport:
In fact, after the pandemic home buyers were looking for a property with enough space to accommodate a home office. While apartments are still the mildest form of property investment, residential plots are now a close second to apartments. Areas with huge developed infrastructure projects like Jewar are attracting eyeballs, allowing homebuyers and investors to make smart and wise decisions. A large group of people is expecting to invest in the context of residential plots near Jewar airport as they anticipate a significant increase in land prices.
This graph shows that the typical price for residential plots close to Jewar Airport is:
Leading neighborhoods with residential plots near Jewar Airport-
|Areas||Plot Size||Average Prices|
|Jewar||50 Sq yd||Rs.6.5 lakh onwards|
|Dankaur||120 Sq yd||Rs.9.5 lakh onwards|
|Yamuna Expressway||900 Sq yd||Rs.46 lakh onwards|
Commercial Plots near Jewar Airport:
There has been an increase in demand for commercial properties and plots in Noida/Greater Noida for the past few years. People have started looking at commercial investment from the perspective of rental income and capital growth. An ambitious project, Jewar Airport, is important in attracting many people to commercial business investment. Hence, the demand is increasing for commercial land for office buildings and plots in the region.
But, if we compare the average costs of commercial lands from last year, i.e. from Jan-Sep 2021, they have witnessed a massive fall from Rs.1,15,981 from April-June 2022 to Rs.28,193 per sq yard (April-June 2022).
Leading locations near Jewar Airport with commercial plots-
|Areas||Plot Size||Average Prices|
|Yamuna Expressway||100 Sq yd||Rs.9.2 lakh onwards|
|Jewar||3468 Sq yd||Rs.3.2 crores onwards|
|Knowledge Park 5||1783 Sq yd||Rs.5.50 crores onwards|
|Knowledge Park 3||2153 sq yd||Rs.7.50 crores onwards|
Jewar Airport – area plot owned by the Yamuna Authority:
Near Jewar on the Yamuna Expressway, Greater Noida, Yamuna Authority offers a variety of commercial and residential plots known as Authority Plots. There are various site configurations are available, enabling potential buyers to construct luxurious houses and offices according to their tastes.
Types of Authority Plots along the Yamuna Expressway close to Jewar Airport-
|Plot Type||Minimum Price||Maximum Price|
|Residential Authority Plots near Jewar Airport||Rs.9.5 Lakhs||Rs.85 Lakhs|
|Commercial Authority Plots near Jewar Airport||Rs.83 Lakhs||Rs.1.60 Crores|
Explore Newest Updates on Plots near Jewar International Airport:
- Due to the highly increased demand for plots near Jewar Airport, the Yamuna Expressway Industrial Development Authority (YEIDA) conducted a lucky draw to allot six commercial/industrial plots in Sectors 32 and 33, each measuring at least 4,000 square meters. Before the construction of the Jewar airport began, the administration said that there were no buyers for these plots. But as soon as the building work started, some 80 companies applied for these plots, and picking winners from a lucky draw is a terrific way.
- The government approved the construction of a road connecting Haryana to the forthcoming Jewar Airport in Gautam Buddha Nagar, UP district. With a budget of Rs.2,414.67 crores, this project connects UP West, Mathura, and Agra and will also be finished in two years.
- In order to become India’s first greenfield digital airport, NIA (Noida International Airport) selected ICAD Holding as its MSI (Master System Integrator) consultant. The NIA wants to apply paperless processing across checkpoints by using the government’s DigiYatra policy.
- YIAPL (Yamuna International Airport Private Limited) and the Airports Authority of India (AAI) have signed a contract for the provision of ATM (Air Traffic Management) and CNS (Communication Navigation Surveillance Systems) amenities at the Noida International Airport. Moreover, the airport will also have Advanced Control Systems, Surface Movement Guidance, and ATS Automation Systems to allow situational awareness and provide decision support to Air Traffic Controllers for smooth weather operations.
- After getting approval from AAI (Airports Authority of India) and the Airports Ministry, YEIDA (The Yamuna Expressway Industrial Development Authority) approved the Jewar Airport Master Plan.
- YIAPL (Yamuna International Airport Private Limited) announced fund arrangements via using loans. YIAPL specified raising Rs.3,725 crores as a loan from SBI (State Bank of India), an amount that will be repaid over 20 years post-completion of the project.
- Zurich Airport and NIAL (Noida International Airport Limited) signed a shareholder contract for the development of Jewar Airport. The project will be. YIAPL (Yamuna International Airport Private Limited), a subsidiary of Zurich International Airport, will tackle the project.
- BCAS ( Bureau of Civil Aviation Security) granted a security certification to Noida International Airport, the Jewar Airport. Therefore, the Jewar Airport Master Plan’s still pending approval remains a regulatory obstacle.
- According to the statement of Uttar Pradesh Minister Nand Gopal Gupta Nandi, “100% of land acquisition for the Noida International Airport or Jewar Airport is completed. The airport is spread across 1,334 hectares of land, and its testing will begin in March 2024. Once the testing ends, the airport will be ready to use by October 2024.
The Master plan of Jewar Airport for 2041:
During the 74th board meeting, the YEIDA (Yamuna Expressway Industrial Development Authority), discussed the after-construction of the Jewar airport master plan. Then, MARS Planning and Service Pvt Limited received the area development tender on 24th August 2022. Thus, the focus on the development of the surrounding area of the Jewar airport is the ‘Master Plan 2041’. About 35 lakh people would live in the urbanized area of 32,000+ hectares revealed by the draft. Near the Jewar airport, the authority also plans to focus on developing a modern and urban green city in a better way.
At last, according to the plan, the city will have an amazing transport system which will make it traffic-free. Therefore, the authority plans to construct industrial areas close to the Jewar airport and enhance connectivity by launching new metro routes.
The Verdict: Purchasing Land In Future Near Jewar Airport:
Further, there is a bright future for plots near Jewar airport which are excellent investment opportunities in the land. As everyone knows the rising price trends of properties near airports in other major cities such as Bangalore, Mumbai, and Delhi, land near Jewar airport will also rise. The flow of prices in property, however, may not be sudden, it may fluctuate with the progress of the airport construction and drive valuable returns soon after completion.
The airport will be established in Noida on the global logistics map as a game changer. After the completion of Jewar Airport, it will also push toward economic activities around the NCR regions and create a large pool of job opportunities in the region, as well as excellent connectivity and transportation options that will be available near the airport. For example- Knowledge Park, Jewar, and the Yamuna Expressway.
The residential plots ensure a pleasant life, while the commercial plots are ideal from a business standpoint. It would be right to advise that purchasing a plot now will enable you to obtain big rewards later on.