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How Jewar International Airport will Impact Noida Realty?

Torbit - May 28, 2023 - - 0 |
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Jewar International Airport

Noida is in noise for the upcoming Jewar International Airport (NIA), which is under construction in Jewar, Gautam Buddh Nagar district of Uttar Pradesh, and is set to be one of the most advanced airports in the world in terms of the use of technology. The airport will be equipped with a number of cutting-edge technologies, including facial recognition, artificial intelligence, and robotics. Jewar Airport is built under a Public Private Partnership (PPP) and is enforced by the Yamuna Expressway Industrial Development Authority (YEIDA). 

The real estate consultants in Noida have opined that it will have a huge positive impact on the real estate market in the coming times. The airport is all set to begin its commercial operations by the end of next year, i.e., 2024.

Striking Features of NIA

Latest News on leading media has revealed some of the notable features of the Airport as:

  1. Fast-Paced Progress

According to Christoph Schnellmann, the CEO of Noida International Airport, significant strides have been made towards the airport’s completion. Test flights, including calibration flights, are anticipated to take place within a year.

  1. Technological Advancements

Noida International Airport management has taken proactive steps to adopt advanced security measures and passenger facilitation systems. Initial orders for metal detectors and 2D X-Ray machines have been placed, ensuring pre-embarkation security checks (PESC) for passengers and cabin bags.

  1. Facial Recognition Technology 

Another advanced technology that will be used at NIA is a facial recognition-based security system. This system will allow passengers to pass through security more quickly. The system will use cameras to scan passengers’ faces and compare them to a database of known criminals.

  1. Upgrading Security Systems

In collaboration with the Bureau of Civil Aviation Security (BCAS) and other airports, Noida International Airport is exploring ways to enhance security technology further. The objective is to replace conventional screening methods with modern body scanners and computed tomography (CT) scanners.

Impact of Jewar International Airport on Realty of Noida

According to PricewaterhouseCoopers (PwC), the company will initially be able to handle about 5 million passengers per year, and after 30 years of expansion, it will be able to handle up to 60 million passengers per year, and by 2050. It will be able to provide services to 37 domestic cities and 31 international cities by the end of the year.

Therefore, the technical efficiency of Jewar International Airport is expected to have a significant impact on Noida Realty, the real estate sector in the Noida region.

Here are some ways in which the airport’s technical efficiency can influence the Noida real estate market:

  1. Appreciation of Property Values as per Real Estate Consultants

The technical efficiency and successful operation of Jewar International Airport can contribute to the appreciation of property values in Noida and its neighbouring areas. As the airport becomes a key transportation hub and catalyzes economic growth, property values are likely to rise, providing potential returns on real estate investments.

  1. Increased Connectivity and Accessibility

Jewar International Airport will improve connectivity and accessibility to the Noida region. As the airport becomes operational and attracts more airlines, it will facilitate easier travel for both domestic and international visitors. This enhanced connectivity can drive increased demand for real estate in Noida, as it becomes a more attractive destination for businesses, tourists, and residents.

  1. Commercial and Industrial Growth

As per the latest news in the real estate market, the airport’s technical efficiency can spur commercial and industrial growth in the Noida region. Improved connectivity and logistics infrastructure will attract businesses, leading to the establishment of new corporate offices, manufacturing units, and logistics hubs. This growth can drive demand for commercial real estate, including office spaces, retail centres, and industrial properties.

  1. Rise in Residential Demand as per Real Estate Consultants

The Real Estate Consultants in Noida have revealed that the development of Jewar International Airport can lead to an increase in residential demand in Noida and its surrounding areas. The airport’s technical efficiency, along with the anticipated growth in commercial activities, can attract professionals and families seeking proximity to the airport and the potential job opportunities that arise from its operation.

  1. Infrastructure Development

Establishing Jewar International Airport requires significant infrastructure development in the surrounding areas. This includes the expansion of road networks, improved public transportation systems, and the development of supporting infrastructure such as hotels, shopping malls, and entertainment facilities. The infrastructure development associated with the airport can enhance the overall appeal of Noida as a residential and commercial destination, attracting real estate investment and driving market growth as stated by Real Estate Consultants in Noida.

Conclusion

  1. The Real Estate market in Noida is all set to grow at a faster pace since the technical efficiency and upcoming opening of Jewar International Airport. The airport development at Jawar will significantly lead to improved connectivity, increased commercial and industrial growth, infrastructure development, and the appreciation of property values.
  2. Investors are more inclined to Noida as the airport’s impact is expected to bring new opportunities, attract investments, and drive overall growth in the Noida region’s real estate sector.
  3. Noida is going to develop as a planned city with complete connectivity, wide roads, underpasses, over bridges, a metro & more by adding an airport. The city will be turned into a Mega-metro city in India.
  4. A number of reputed builders have already started to acquire more land in Noida in order to make an earlier tap in the market.
  5. The development of the airport will also attract Global interest as well as the Indian diaspora around the world in Noida Realty.
  6. The latest Real estate updates also reveal that Noida’s skyline is set to evolve, and investors and developers should keep a close eye on this dynamic market for potential opportunities and growth in the coming years.
  7. The airport will also open more doors towards global standard education to the city.
  8. Last, but not least, the development of the airport will lead to improved social conditions with improved medical facilities, education, etc. in the city.

 

 

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