Wednesday, 6 September 2017

Will The Jewar Airport Finally Make Corporates Take Noida Seriously?

Noida is the hub of industrial activity these days and has received a lot of push from the state’s governance due to the interest shown by corporates as well as investors to buy properties in this region. Besides being the growth engine of NCR besides Gurgaon, Noida has also become the eye candy of real estate developers which is evident from the large number of new projects in Noida. The latest development that is coming up on Yamuna Expressway is Jewar Airport that may boost Noida's real estate market.

The airport marks a sharp turning point in the growth of Noida as a region and will give a sharp boost to the prevailing real estate market in the region. This comes at a time when Noida was being overlooked by investors and corporates who preferred Gurgaon and Delhi areas to set up offices, make investments or develop new projects. However, the recent nod received from the state government for the Jewar airport, which is a mere 100 kilometres from the Indira Gandhi International Airport of Delhi, will surely benefit Noida real estate and will stimulate interest from the both corporates and property developers alike.

Ever since the project received the much-needed permissions and the clearances, the market rates of real estate in the region have shot up. There is a renewed interest from the investors and corporates who would want to set up offices in the vicinity. The airport will provide the convenience of travel, which is a must for multinational corporations who spend a lot on travel. Besides reducing the travel time and increasing the convenience, the airport will also give certain added advantages to the corporates like better growth, fast development and certain increase of market prices. A host of new projects in Noida have come up due to this announcement and there is a scurry among the investors to buy a piece of the land, before the prices rise as they did in Gurgaon.

The land rates in Noida and the number of new projects under construction are on the rise, though very less of them were for corporates. But now the Jewar airport’s addition to the lucrative things in Noida has made many corporates look this side for setting up their offices. The connectivity has already received a boost as the new metro line would soon become functional which would connect Faridabad, Delhi and Noida. And now the airport has sorted the travel issues for many people. Thus, this can be the key to the Noida real estate and whoever can pick properties at this point in time, will surely be the winner once the airport comes up in about three years’ time, which is the time proclaimed by the concerned departments. So, this development will surely make Noida a much more lucrative option for corporates and stimulate them for owning the best pieces of property here as there is only a win-win situation from here on.


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