NEW DELHI: On Saturday, Prime Minister Narendra Modi inaugurated phase-I of the Noida International Airport in Jewar, at an estimated cost of ₹11,200 crore. This initiative is expected to significantly transform the real estate landscape of the National Capital Region (NCR).
The airport, situated along the Yamuna Expressway, aims to enhance connectivity in western Uttar Pradesh and the NCR, linking important urban and industrial centers such as Noida, Greater Noida, Ghaziabad, Agra, and Aligarh.
Modi noted that the project represents a pivotal advancement in Uttar Pradesh’s development and will bolster India’s aviation capabilities. He stated, “Airports are not merely basic facilities in any country; they provide wings to progress.” Enhanced connectivity is anticipated to create opportunities for industries, farmers, and businesses in the surrounding areas.
The new airport is expected to spur real estate growth, particularly along the Yamuna Expressway and nearby micro-markets, which have already seen a surge in developer activity.
According to Anshuman Magazine, Chairman & CEO of CBRE for India, Southeast Asia, Middle East & Africa, “Airport-driven development has historically been a powerful catalyst for real estate expansion, stimulating demand across commercial, logistics, hospitality, and residential sectors. Jewar is poised to foster the rise of a new real estate corridor and draw in institutional investment.”
Industry experts predict both residential and commercial sectors will reap benefits from the improved connectivity and infrastructure.
Vimal Nadar, National Director and Head of Research at Colliers India, stated that the airport’s operations will unlock long-term development prospects in vital micro-markets. “Residential areas along the Yamuna Expressway, Greater Noida, and Noida Expressway are likely to gain traction, especially in mid-income and luxury brackets. The airport is also expected to attract global businesses, with Noida projected to see 2-3 million sq ft of annual Grade A office demand in the coming years,” he explained.
Developers have reported a rise in interest from investors and end-users, attributed to enhanced connectivity and infrastructure development.
Ajay Chaudhary, CMD of ACE Group, remarked that the airport is set to introduce new demand corridors across the NCR, with the Yamuna Expressway emerging as a pivotal growth center. Yash Miglani, Managing Director of Migsun Group, added that the initiative is likely to stimulate commercial and retail development and attract business investments to the area.
