Jewar Airport Development will Boost Real Estate Market in Noida

By : 360 Realtors

05 December, 2019

The proposed greenfield Jewar airport in Greater Noida is set to take off with the UP government acquiring 80% of the land. Nearly 100 farmers from Jewar have given their consent letter for the land acquisition for the project to CM Yogi Adityanath last month. The farmers’ consent has paved the way for 80% of land acquisition, which is the minimum requirement for kickstarting the project.

The government has completed the land acquisition at the last minute before the bidding for the project begins. Jewar’s BJP MLA Dhirendra Singh led the farmers. Approximately 70% of the farmers had given their consent for land acquisition for Jewar airport last year. The CM had assured the farmers of safeguarding their interest in lieu of the land given for the proposed airport. Jewar airport is expected to be the largest in the world.

In a meeting with farmers, the CM stated that the farmers were willing to give up their land for the development of the airport. The farmers have also been assured that they will not face any economic crisis post the acquisition of the land. Once the Jewar airport project takes off the land prices in the region are expected to shoot up for the entire region, including Noida, Greater Noida, and the Yamuna Expressway. The area is expected to see further development with more job opportunities emerging for farmers as well as their kin.

The Jewar airport will entail the development of 2,200 acres of land and is expected to be operational by 2023. This will give the national capital region the distinction of hosting two airports within a 100-kilometre radius. The airport will also lead to the development of an Aerocity which will be along the lines of the one at the IGI airport. The airport is expected to handle over 10 crore passengers by 2050 and will serve 37 domestic and 31 international destinations.The airport at Jewar will help address the aviation needs of New Delhi, as well as surrounding cities like Agra, Mathura, Bulandshahr, and Meerut. The Union civil aviation ministry expects the airport to bolster tourism and economic potential of the region. The project is expected to generate millions of job opportunities and improve investor sentiment.