The upcoming Noida International Airport, or the Jewar International Airport, is a mammoth project near the Noida-Greater Noida-Yamuna Expressway (YXP). Similar to how the IGI airport affected Gurgaon’s real estate market trends, experts find this project to deliver the same outcome to Noida. So, in this blog, let’s find out if the Jewar Airport can influence the real estate market in Noida.
The nearby presence of the Indira Gandhi International Airport (IGI Airport) has contributed to the thriving property market in Gurgaon. Just 15 kilometres from Gurgaon, the airport makes for a remarkably practical choice for tourists and business travellers. This has aided the interest in Gurgaon real estate to soar.
Here are some of the ways in which the IGI Airport has affected the property market of Gurgaon.
IGI Airport’s Affect on Gurgaon Property Trends
Increased demand: Property interest in Gurgaon has surged on account of airport comfort. Being near an airport is preferred by both business travellers and tourists, thus increasing property value.
Improved connectivity: The airport enhances Gurgaon’s connection to other regions of the nation. Simplified commuting has sparked property interest in city areas.
Attraction for businesses: Gurgaon has drawn businesses to the airport as well. Job creation and opportunities have led to increased demand for property.
Rising property prices: As the demand for properties in Gurgaon grows, so do property values. The city’s airport vicinity has proved to be a hotspot for price appreciation.
A continued positive effect on the Gurgaon property market is what experts anticipate from the IGI Airport in the coming years. Expansion of the airport in the near future will result in higher demand for property within the city.
With these points in mind, it is conceivable why many believe that if we were to compare with the property trends of Gurgaon, we can expect a similar boost to Noida’s real estate market.
IGI airport spiked the demand for hotels, apartments and other commercial projects. Considering these developments, Noida could also gain a similar expansion on the following:
- Enhanced connectivity
- Infrastructural advancements
- IT and service sector expansion
Let’s delve a bit further into detail and look into the factors that would solidify these assumptions.
Connectivity & Location
Situated in the Gautam Buddh Nagar district of Uttar Pradesh, the Jewar International Airport is approximately 80 kilometres from Delhi city centre. The strategic location will significantly benefit the surrounding towns and cities NCR along with Delhi. The key advantage of this airport is the proximity to important cities such as:
- Greater Noida
Even though all of these cities are already home to industrial, commercial, and residential activities, the boost on the economy that would project on Noida’s real estate market would be undeniable.
For example, investing in a new project in Noida Sector 153 would be a golden opportunity if you’re looking for commercial spaces. Why? Because sector 153 is the first commercial sector of Noida that you would come across when travelling from the Jewar Airport.
The presence of an airport nearby refines the connectivity and accessibility of these areas, especially Noida. There will be impeccable growth in real estate due to the surge in interest of businesses and investors in the area.
Such immense and swift connectivity also intrigued families to invest in residential apartments in Noida.
Jewar Airport’s Impact On Commercial Real Estate
Attraction of Local & Foreign Investment
The existence of a pivotal airport that is expected to cater to 70 million passengers would become an attraction for international investors in the NCR region. This airport will operate as a gateway for foreign real estate investors and businesses in the foreseeable future.
With excellent connectivity, the corporate sectors could easily establish their workspaces. This could lead to a ripple effect, creating more businesses and supporting industries driving the demand for real estate.
MNCs will also be encouraged to establish their presence near the Noida-Greater Noida-Yamuna Expressway (YXP), leading pathways for foreign investment, technological advancement, and more job opportunities.
Corporate Relocation & Office Spaces
The Jewar Airport will be attracting passengers along with multinational companies and businesses, bringing a significant hike in the demand for commercial properties in Noida.
The proximity to the sectors of the NCR region with the airport’s connectivity will make the location pleasing for corporate offices.
The Jewar International Airport’s Economic Impact
Demand For Luxury Housing
There is a more likely shift in the demand curve for residential apartments in Noida with the development of the Jewar Airport. This trend is not hidden from the eyes of real estate developers.
This is why more upscale projects are being launched, bearing international standards and luxury amenities to meet the demands of homebuyers.
Therefore, investing in luxury apartments in Noida can also be a fantastic investment prospect for your family.
Property Value Appreciation
There is a high potential for capital appreciation to invest in real estate near the Jewar Airport. Furthermore, property value could face a surge as soon as the development of the airport reaches its end. The drive-up in property prices offers a favourable environment for investors and owners.
Rental Yield Potential
The region’s influx of business travellers, tourists, and employees will influence the rental rate.
An attractive rental yield potential could be expected by property owners, along with an exceptional increase in demand for rental properties. By presenting convenient properties that are well-maintained and conveniently located, investors can greatly capitalize on the demand.
There will be promising economic growth, infrastructural development, and improved connectivity heading towards the Noida real estate industry thanks to the upcoming Jewar International Airport.
If you’re an investor, now is the time to invest in a commercial project in sector 153 Noida.
ACE 153 is located on the Noida Expressway. It is a harmonious blend of coveted office spaces and high-end retail units. This ACE Group project consists of two uniquely-designed towers setting a new benchmark in the commercial real estate sector.
To find more details about this visionary project, get in touch with ACE Group.