Government Approves Proposal for New Airport in Jewar

By : 360 Realtors

14 July, 2018

The Centre has given a nod to the proposed Greenfield Airport at Jewar in Gautam Budh Nagar, which is a key move to tackle the growing volume of air traffic in the region. It is necessary to note, that the population in the area is rising over the years. People from various parts of the country are migrating to the city. Evidently, the demand for residential property in the area is on the rise. If you are willing to buy Property in India, you can have a look at the upcoming projects in the area. With the new airport coming up in the city, the people will enjoy a faster access to the different areas across the country. It will strengthen the connectivity in the area. According to officials, Price Waterhouse Coopers have prepared the detailed project report and techno-economic feasibility report for the upcoming project.

The demand for Real Estate in India has been increasing, and the residents are looking for places with good connectivity. Evidently, the airport will give a boost to the real estate industry in the area. The prices of apartments are likely to increase, with the new airport coming up in the city. The report reveals that the airport will require 1,441 hectares of land. This will be acquired from the surrounding areas. land from eight villages will be acquired for the development of the airport. The airport is scheduled to be operational by 2022, provided all the land required for the project is acquired within one year. In case you are willing to buy property in India, you should be aware of the India Property Prices. Have a look at the leading real estate portals to get an idea about the prices of properties in India.

Transportation is one of the key areas homeowners look into while purchasing the apartments. All the key cities in India have got their airports, which have made them popular residential hubs. With the development of this airport in Jewar, the demand for property in the area is likely to rise. The property prices in the area will also shoot up in the upcoming years. This is a good time for property buyers to acquire the apartments here. The returns on selling these properties are expected to be high, once the airport becomes operational.

The government is expected to follow the PPP model for the development of the airport. The work will take place in four phases, and the total expenses involved in the project are around INR 15,754 crore. The airport will be having two runways and it is being designed to handle a capacity of 70 million passengers on an annual basis. The cargo airport will be developed, targeting a capacity of 3 million metric tonnes of cargo annually. If you are interested in buying India Real Estate Property, you can make your purchase now. The property prices will go up by the time the airport is completed. For investors, this is a good opportunity to make the best use of their financial resources.