The corporates in Delhi/NCR region are generally in a fix to choose between Gurgaon and Noida to set up their offices. Most of them choose Gurgaon due to its airport proximity. However, with the new airport coming up at Jewar, Yamuna Expressway near Noida, the tables might turn drastically.
Sources from a property research firm revealed that the new airport might help in boosting up the sales of the region, which have been showing a downward trend in the past few years. Noida has been losing out quite a bit since it was not in close proximity to an airport. The new airport is expected to increase the demand for offices in Noida, which in turn will increase the demand for homes.
An architect and town planner, Hafeez Contractor revealed to Economic Times – “A new airport transforms an area. Noida and its surroundings could get transformed from a poorer suburb of Delhi to an affluent one. A new airport near Noida will change the face of the area. Roads will change and get lit up, law and order will improve, hotels will come up and the area will get cleaned.”
Bengaluru seemed to experience a similar activity in the past. People were apprehensive about the launch of the new airport 20 kms away from the main city. However, today the main city seems to be moving towards the airport with immense development taking place in the areas nearby to the Bengaluru airport. The new airport at Jewar is expected to improve connectivity and encourage tourism in Mathura and Agra due to its strategic location.
Quite a few developers such as Jaypee, Gaursons, ATS and SuperTech have commenced real estate projects on the Yamuna Expressway in the last few years. Currently, there would be around 30,000 apartment units under construction. The sales were showing an upward trend in the initial years, after which there has been a major slowdown. The announcement of the new airport has now stirred up some movement in the new Yamuna expressway area.
Source: Economic Times