As Noida International Airport at Jewar prepares to take off with its first flight in April 2024, real estate in the region is poised for a major boost. Experts suggest that areas along the Yamuna Expressway and Greater Noida may experience a surge in property demand and value, spurred by enhanced connectivity and infrastructure. With the potential to turn this region into a real estate hotspot, the airport’s launch could reshape property trends and attract investors eager to capitalize on emerging opportunities.

Airports and Real Estate: A Proven Connection

The development of major airports often triggers significant real estate growth, as seen with Gurgaon’s rapid expansion around Delhi’s Indira Gandhi International Airport. From 2008 to 2013, property prices in Gurgaon surged by 100% to 300%, particularly in areas like DLF Cyber City and Golf Course Road, driven by improved connectivity and corporate influx. The success of Gurgaon’s real estate serves as a strong example of how airport projects can influence property values in surrounding areas, an effect anticipated for Jewar as well.

Jewar Airport: A Game-Changer for Yamuna Expressway

The Noida International Airport is expected to transform connectivity in the region, making the Yamuna Expressway a prime area for property development. Industry experts predict property prices here could rise between 50% and 100% over the next five to ten years, with substantial growth already recorded over the last two years. This area has experienced a 20% to 30% increase in property values, along with an annual growth rate of 15% to 20% from 2018 to 2023. The potential for new townships, corporate hubs, and commercial projects could further elevate the area’s appeal among investors and homebuyers.

Lessons from Other Indian Cities

The impact of airport developments on local real estate markets is evident in other cities:

Navi Mumbai: Following the Navi Mumbai Airport announcement, Panvel and Uran saw property prices rise by 15% to 25% from 2017 to 2019. The ongoing airport construction has also led to rapid land value appreciation in these areas.

Hyderabad: Since Rajiv Gandhi International Airport opened, Shamshabad and Gachibowli recorded property price hikes of 30% to 40% between 2008 and 2010, transforming these areas into a bustling corporate and IT hub.

Bangalore: The Kempegowda International Airport spurred a property boom in the northern areas of Yelahanka and Devanahalli, where prices rose by 20% to 30% within two years of the airport’s launch. This area has since become a top destination for investors.

These cities underscore the value airport development can bring to a region’s real estate market, offering a model for growth that Jewar and Greater Noida are likely to follow.

An Opportune Time for Investors

The area around the Yamuna Expressway and Greater Noida remains in its early stages of development, signaling a prime time for investors. With the Noida International Airport set to lift the region, those investing early may benefit from potentially substantial returns as the market grows. Drawing from the experiences of Gurgaon, Navi Mumbai, Hyderabad, and Bangalore, Jewar Airport’s inauguration promises to bring about transformative changes that could make the region a new epicenter for investment and home buying.

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