Noida and Greater Noida are set to get a major infrastructure boost as Prime Minister Narendra Modi will inaugurate Phase I of the Noida International Airport on March 28, a one-of-a-kind airport project developed at an estimated cost of Rs 11,200 crore.
The inauguration of Noida International Airport will not only bring additional world-class air connectivity, on top of Delhi International Airport, for the rapidly evolving residential, commercial and Industrial market in Delhi-NCR, but it also marks a significant milestone in India's journey towards becoming a global aviation hub.
A Boost For Regional And International Connectivity
According to experts, the airport would work as a catalyst in opening a key international gateway for the National Capital Region (NCR) by enhancing both domestic and international connectivity. Along with the whole NCR region, Noida and Greater Noida’s real estate market will be the top beneficiaries as they get a world-class air connectivity on top of expressways and metro connectivity within both cities.
Noida International Airport
The International Airport, which is developed under the Public-Private Partnership model, is among the largest greenfield airport projects in India. Initially, it will have a 12 million passenger handling capacity per annum. The airport can manage up to 70 MPPA upon full development.
Additionally, the cargo facility is designed to handle over 2.5 lakh metric tonnes annually, with the capacity to expand to around 18 lakh metric tonnes. The Noida International Airport has a 40-acre Maintenance, Repair, and Overhaul (MRO) facility as well.
A Major Booster For Real Estate Market
Market experts see the coming-up of a new airport as a massive turnaround for Noida’s and Greater Noida’s property market. They believe that the development could bring a renewed uptick potential in office leasing, residential, commercial and industrial real estate.
“The inauguration and subsequent start of operations at the Jewar International Airport are likely to unlock long-term real estate development in the catchment areas, particularly along the Noida Expressway. Additionally, overall connectivity with Gurugram & Delhi is likely to get a further boost, led by multiple other infrastructure projects which are at various stages of development. The residential market of select micro markets of Noida, such as Yamuna Expressway, Greater Noida and localities along the Noida Expressway, stand to gain traction, especially in the middle-income and luxury segments,” said Mr Vimal Nadar, National Director & Head, Research, Colliers India
According to Nadar, the international airport is expected to attract global occupiers in the commercial real estate front in the coming years, enhancing the value proposition of Noida’s office market.
Echoing the same sentiment, Ashish Bhutani, CEO, Bhutani Infra, said that the opening of the Noida International Airport marks a defining moment for the growth of Noida and Greater Noida as India’s next major commercial and investment hub.
“This landmark infrastructure development is set to significantly boost demand for commercial real estate in Noida, especially in high-growth corridors connected to the airport,” Bhutani noted.
Highlighting the infra boost that Noida Airport would bring to NCR, Mohit Mittal, CEO – MORES, said that in NCR, infrastructure has increasingly become the starting point of residential growth. According to him, major connectivity upgrades — whether metro extensions, new expressways, or airport-linked development — tend to reshape how both homebuyers and investors look at emerging locations.
“Over the past few years, this shift has been quite visible across several NCR corridors. Areas along routes such as the Noida Expressway and Dwarka Expressway, as well as the region around the upcoming Jewar airport, have started drawing stronger residential interest largely because connectivity is improving rapidly,” Mittal stated.
Ashish Agarwal, Director, AU Real Estate, pointed out that the inauguration of Jewar Airport is a landmark development for the Noida region.
“With improved connectivity and enhanced accessibility, there will be a boost in the demand for both residential and commercial space. We expect steady growth in land prices, increasing confidence, and faster absorption of premium inventory. From the perspective of the buyer, there is improved infrastructure, appreciation potential, and a more vibrant city. It will be a catalyst for the entire Noida region, making it a globally competitive destination,” Agarwal said.
28% Uptick Potential In 2 Years: Square Yards
According to a recent report by online proptech platform Square Yards, the inauguration of Noida International Airport in Jewar will be a major boost for real estate prices in Noida's housing market, with the property prices along the Yamuna Expressway corridor expected to see a significant surge between 2020 and 2025.
The prices of plots and apartments are expected to surge by 28 per cent and 22 per cent, respectively, over the next two years, the report said
Meanwhile, according to Square Yards, the apartment prices in the city have nearly tripled over the past five years, while plots price have increased by an average of 1.5 times. At the same time, certain micro-markets have seen increases of up to 5 times, reflecting strong investor confidence in the backdrop of infrastructure development.