Jagran Correspondent, Jewar: Over the past nine years, the prices of residential, agricultural, and commercial land in the entire district, including Jewar, have seen unprecedented changes due to the Noida Airport. From the start of airport construction to the start of commercial flights, land prices have increased five to tenfold.

Due to the airport, large scale investment is taking place from India and abroad in the Yamuna Authority area, which will prove to be a game changer in terms of economy and business of the area in future, besides providing employment to the youth here and giving them opportunities to try their hand in business.

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How Much Compensation Did Farmers Get?

In 2019, the government acquired 1,334 hectares of land from farmers in six villages of Jewar for the Noida International Airport, paying compensation at the rate of Rs 20.80 lakh per bigha.
Farmers and property dealers said that at that time the price of land in the surrounding districts was only Rs 2 to 3 lakh per bigha, while the price of residential land in Jewar was Rs 5 to 10 thousand per square yard.

What Is The Price Of Residential Plots?

In the third phase, farmers are receiving compensation of over Rs 40 lakh per bigha, but in neighbouring districts, the price of land has reached Rs 15 to 20 lakh per bigha, and the price of residential plots in Jewar, Jahangirpur, and Rabupura has reached Rs 50,000 to Rs 1 lakh per square yard. In the first phase, those who gave land had invested and purchased more property, but now, due to rising inflation, more investment is being made and less property is being purchased.

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The Jewar region had been hit by backwardness since independence. After receiving compensation, people began purchasing luxurious homes, expensive cars, and enrolling their children in good schools and colleges. As Jewar town progressed from rural to semi-urban, people's lifestyles and behaviour changed.

With the arrival of a large number of people from outside the region, increasing tenancies have created a steady source of income. The economy is also strengthening as per capita income rises due to the growth of various businesses.