Noida International Airport Latest Update: PM Narendra Modi on Thursday laid the foundation stone for the Noida International Airport at Jewar in Uttar Pradesh and said it would one of the largest aerodromes in Asia. He said the new airport will help the state become an export-centre whereby even MSMEs will have easier access to overseas markets.Also Read - Delhi-Dehradun Economic Corridor: You Will Soon Reach Delhi From Dehradun in Just 2.5 Hours | All You Need to Know

PM Modi further highlighted that the Noida International Airport will become the logistics gateway for North India and asserted that the infrastructure is not politics but part of national policy. Also Read - BSF Celebrates 57th Raising Day, To Exchange Sweets With Pakistan On Attari-Wagah Border

Notably, the Noida International Airport is expected to be operational by September 2024 with an initial capacity to handle 1.2 crore passengers per annum. Spread over 1,330 acres of land, the airport will be developed by Zurich Airport International AG. Also Read - 'No Data' on Farmers' Deaths, So No Question of Financial Aid: Government

Game-changer for Noida, Greater Noida markets: Real estate experts believe that the Jewar international airport in the Delhi-National Capital Region (Delhi-NCR) could be a game-changer for the Noida and Greater Noida markets.

Most importantly, the Noida International airport could give a big boost to areas such as the Yamuna Expressway where demand has gone down due to lackluster infrastructure facility. The real estate sector in these areas has been affected due to COVID pandemic. However, the real estate experts believe that the new airport could be a big blessing for the first-time homebuyers and real estate market in western Uttar Pradesh.

Speaking to News 18, Santhosh Kumar, vice chairman – ANAROCK Group, said for an area to become end-user-centric and livable, an infrastructure project like the Jewar Airport can help kick-start more real estate developments, including housing, commercial, retail, and hospitality projects.

Boost for economic activities: The real estate experts are of the opinion that the benefits of an international airport in Jewar will reflect if the construction progresses according to the schedule. Apart from the real estate sector, the new airport will also boost the economic activity in Noida and Greater Noida regions.

With the new airport coming up, various private institutions and companies are also looking to invest in and around the region.

Emerging real estate hotspot: The Noida and Greater Noida region will in the days to come emerge as the real estate hotspot with all the requisites for affordable housing and better living conditions. The area will also create job opportunities for thousands of people in Delhi-NCR region.

Blessing for homebuyers: As connectivity will increase due to the airport, there will be a significant boost in real estate sector in Greater Noida and Yamuna Expressway regions. Interestingly, the first-time home buyers will have a viable and affordable alternative in the region than in Gurgaon or Delhi where prices are unaffordable for many.

Land prices around Jewar Airport:  As per Anarock Property Consultants, the average land prices around Jewar International Airport at present are Rs 1,000 to Rs 2,500 per sq. ft and the land prices in Greater Noida are between Rs 2,000 and Rs 5,000 per sq. ft. The land prices often go up to the Rs 5,000 per sq. ft mark in Noida.

Boost for commercial establishments: Apart from infrastructure, the Jewar international airport will also increase the demand for housing and commercial real estate like office and retail spaces. In the days to come, more and more office spaces will come up in this region.