Noida International Airport, one of the country’s largest aviation projects, is now fully ready for takeoff. The wait for the opening of Jewar Airport, which has been speculated for decades, is finally over.
On March 28, Prime Minister Narendra Modi will inaugurate this much-awaited airport. This is not just the inauguration of an infrastructure project, but a major step that will transform the entire National Capital Region (NCR). Its opening will not only ease the heavy passenger pressure on Delhi Airport but also provide an unprecedented boost to development and real estate in Noida and its surrounding areas. This project will not only make travel easier but will also open new doors for investment and employment.
A 25-Year-Old Dream Now Becoming a Reality.
The foundation stone of this massive project wasn’t laid overnight. It follows nearly two and a half decades of long-awaited planning. In 2001, the then Chief Minister of Uttar Pradesh, Rajnath Singh, first proposed the Greenfield International and Aviation Hub (TIAH) in Jewar. This plan was stalled for a long time, but progress gained momentum after 2014.
Finally, on November 26, 2021, Prime Minister Narendra Modi officially laid the foundation stone for the project. Now, after nearly four and a half years of continuous work, the first phase of the airport is ready. When the airport reaches full capacity, it will become Asia’s largest.
Delhi will get major relief, and travel will become easier
Currently, Delhi’s international airport is under heavy pressure due to passenger and flight volumes. Once flights from Jewar to major cities across the country begin, Delhi airport’s traffic will be significantly divided. For ordinary travellers, this directly means less congestion and a new, convenient option for air travel.
Which areas are likely to see a property boom?
The opening of the airport is sure to have the biggest and most direct impact on the surrounding real estate market. According to Vimal Nadar, National Director and Head of Research at Colliers India, this airport and various ongoing infrastructure projects will improve connectivity between Gurugram and Delhi. This will benefit the areas along the Yamuna Expressway, Greater Noida, and Noida Expressway the most. Demand and prices for residential properties in the mid-income and luxury housing segments are expected to surge in these areas in the future.
This growth will not be limited to residential housing. The presence of an international airport attracts major companies from around the world. Experts predict that Noida’s commercial office market will grow rapidly in the coming years.
According to estimates, Noida will see demand for approximately 2-3 million square feet of Grade-A (high-end) office space annually over the next few years. By 2026 and beyond, Noida alone is expected to account for approximately 25 per cent of the total commercial leasing in the Delhi-NCR region.
