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:  

• Noida
• Greater Noida
• Ghaziabad
• Faridabad

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.

Read more: IMPROVED METRO CONNECTIVITY TO NOIDA INTERNATIONAL – JEWAR AIRPORT

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. 

Also Read: FLYING HIGH: A LOOK AT INDIA’S BIGGEST UPCOMING JEWAR AIRPORT

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.

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The Jewar International Airport is another mega-structure initiated by the Indian government to build the biggest airport in Asia that will cater to the needs of 70 million passengers after its launch by the end of 2024.   

For those who don’t know, India’s largest airport is being built in Jewar in the Gautam Buddha Nagar district in Uttar Pradesh by the Yamuna International Airport Private Limited, a subsidiary of Zurich Airport International. 

What’s interesting to note about the new under-construction international airport in Jewar is its exceedingly strategic location, making it highly accessible for people from different cities and surrounding areas. 

Also Read: 6 Mega Infrastructure Projects In 2023

Connectivity of Jewar Airport

The location of India’s most significant airport has been carefully sourced by the officials to allow great accessibility. The airport will be connected to the Noida YXP, allowing people from some of India’s prominent cities like Greater Noida, Mathura, Agra, and Jewar to get access to it conveniently. 

Moreover, the Jewar Airport will also be connected to the new Delhi-Mumbai Expressway through a 31 km-long link road at the main alignment of the expressway in Ballabgarh. This will ultimately make the airport accessible for people belonging to Faridabad, Delhi, and Gurgaon. The airport is only 75 km away from Delhi. 

Did You Know?

For starters, the airport will be constructed in four separate phases. The first phase includes the development of commercial spaces, a terminal building, and 2 runways. The total amount of land that will be covered in the initial phase is 1300 hectares. 

Interestingly, the airport will cover a total area of up to 5000 hectares with Approx 6 to 8 runways upon its completion. Currently, over 2600 workers are engaged in its construction to complete phase 1 so that it’s ready for trial and testing by mid-2024, i.e., 4 to 6 months before its inauguration. 

The workforce is expected to be increased to 6,000 workers as construction moves forward. 

Furthermore, the airport will serve over 12 million local and international passengers when the first phase is finished. Plus, it is expected to handle 200,000 tonnes of cargo. 

According to the minister of civil aviation, the Jewar International Airport will be much bigger than the Indira Gandhi International Airport in Delhi, which currently facilitates 69 million passengers. 

There are also plans to increase the capacity of the Jewar airport from 12 million to 70 million passengers per year. The runway will be 4,000 metres long and 45 metres wide, with a 40-metre-high ATC to give the full view of the airport to air traffic controllers. 

The construction of the Jewar Airport is undoubtedly a leap for India towards an eco-friendly airport that operates efficiently and provides a fully modern environment for local and international travellers. 

Don’t forget that Jewar Airport will be turned into a transit hub, ultimately bringing more people to the city and surrounding areas. Needless to say, this will contribute to massive boosts in business activities and India’s economy.

As an Indian citizen, you may consider investing in commercial or residential property in Greater Noida or any other connecting cities and districts. This is because the real estate market will undoubtedly rise higher after the completion of the airport, allowing investors to reap the benefits of long-term investments. 

Residential projects in Greater Noida, such as ACE Divino, developed by ACE Group could be your dream project to invest in. 

To learn more about our projects that have great connectivity to Jewar Airport, contact ACE Group today. 

ACE Divino: RERA REG NO. UPRERAPRJ6734 | Website of RERA: www.up-rera.in

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What makes Noida the next big thing?

Noida is located on the river’s left bank, equidistant from Ghaziabad and Delhi. In the 1970s, it was constructed as a sophisticated industrial metropolis near Delhi, across the Yamuna River. Noida’s population has increased dramatically during the previous two decades, and the city now boasts a population of over 500,000 people. To accommodate the extraordinary rush of the population into this region, a new Greater Noida metropolis is being created on the outskirts of Noida. The real estate market in Noida is high octane, thanks in part to a significant number of individuals relocating from Delhi to make it their home. As a part of Uttar Pradesh, Noida cannot be isolated from the state’s existing challenges. Despite this, many who have relocated to Noida enjoy a luxurious lifestyle. Noida real estate benefits greatly from its closeness to Delhi. Staying here is a fantastic decision because of the excellent road network and other civic infrastructure.

Moreover, Noida draws many young professionals from the IT/ITES sector. These young professionals are transforming Noida into the highest-tax-paying district in Uttar Pradesh. Real estate and hotel industry titans are preparing to make significant investments by regularly introducing new projects in Noida. To attract investors, Builders in Noida are constructing cutting-edge commercial spaces. Noida has emerged as the most prominent real estate locations in the National Capital Region.

The value of apartments on Noida Expressway, specially the projects in sector 150 Noida has increased significantly due to the UP Govt.s recently approved international airport at Jewar. Following the same model, a Heliport is also proposed in sector 151A Noida. The authority has made it clear that the facility will be named Noida Heliport and the search for the firm to build the project is already underway. This has also contributed to the Noida and Greater Noida’s increased real estate appeal. Thus, if you have considered points mentioned above, you might know the factors that will lead Noida to be the game changer in coming years. Further more, Noida is attracting more and more development projects, and people in NCR are shifting to this city for better work opportunities and better real estate investment and buying opportunities.

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Location& Connectivity

Noida has become a popular location for commercial property investment. The significant locations here are well connected to other popular regions via different expressways and the availability of the metro makes commuting easier for everyone. Noida has direct connectivity with Delhi, Ghaziabad, Faridabad as well as Agra and Mathura via the famous Yamuna Expressway.

The Present

The city is well equipped with social infrastructure as well as retail malls, restaurants, banks, reputable healthcare institutions and schools making life easier and more pleasant for those who live and work here. As a heavily inhabited location, it receives a large amount of foot traffic and thus, investing in commercial projects in Noida is an advanced option for high profits.

The Future

Noida stands out as a highly promising location with a significant residential presence, which enhances the advantages of commercial property owing to improving profits and decreasing the risks of vacancy. Such places generate strong demand for commercial or retail establishments, resulting in a large catchment area and excellent rental and capital returns. The recent inauguration of Noida International Airport (Jewar Airport) and announcement of film city on Yamuna Expressway gives a major boost to upcoming projects in Noida and Greater Noida.

Wrapping Up

From things mentioned above, one must have got the main reason behind the rise of commercial projects in Noida. After the pandemic surge, this is high time to invest in commercial real estate, especially in Noida, to get the best return on investment.

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