Inching closer to reality, Jewar Airport to benefit multiple realty hotspots

Real Estate

The Uttar Pradesh Government has come up with a notification to acquire 48 acres of land and to relocate over 3,600 people expected to be affected by the setting up of Jewar International Airport. With this, a major hurdle in the way of this airport is over, and its construction will now be expedited.

It was in the year 2018 that the farmers in this area had objected to the land acquisition move citing that the compensation offered was inadequate. But now with this new notification, the UP Government has cleared the decks for the construction of this airport. Being constructed on Public-Private Partnership (PPP) mode, Jewar Airport will be a civil aviation hub and an alternative to Indira Gandhi International Airport of New Delhi.

To be constructed at an estimated cost of over Rs 20,000 crore, Jewar Airport is expected to be operational by 2022-23. Once Jewar Airport becomes a reality, it will immensely benefit the real estate markets across Noida, Greater Noida, and Yamuna Expressway.

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