Jewar Airport Sparks Real Estate Boom Major developers line up for Yamuna Expressway Industrial Development Authority (YEIDA) with Jewar Airport construction in full swing, regional real estate players like Gaur Group, Eldeco Group are investing in land near the Yamuna Expressway
Jewar Airport is driving a real estate boom in Greater Noida and nearby regions. Regional real estate players like Gaurs Group, Eldeco Group, and Suraksha Group are investing in land near the Yamuna Expressway, as per a Mint report.
Earlier in 2024, the Yamuna Expressway Industrial Development Authority (Yeida) launched a housing scheme with 361 plots that drew over 200,000 applications. A third scheme is expected soon, reflecting the strong appetite for real estate in this emerging region.
The game-changer for Jewar and its surroundings is the under-construction airport. Though the Yamuna Expressway opened over a decade ago, the real estate market around it remained tepid. That changed with the announcement of the new airport.
Over 5,000 hectares have been earmarked for development, with projects such as a medical devices park, semiconductor zone, data centre park, apparel hub, and a Film City already planned or underway, as per the report.
A recent report by Colliers India noted that land prices in Jewar have surged by 40% in the last five years. Projections suggest another 50% rise by 2030, thanks to improved infrastructure like metro connectivity and planned urban zones.
At Yeida’s Greater Noida office, there’s a sense of urgency as new projects take shape, Mint report noted. Officials say that the entire region has been sectorised for organized development. Plans include fintech zones, Japanese and Korean industry clusters, and a 2,000-acre logistics park at Tappal.
Though major players like DLF and Godrej are yet to enter, regional firms are betting on Jewar’s potential. Many believe that once the Jewar airport becomes operational, the area will mimic the real estate success seen in places like Gurugram post-Maruti’s arrival.
Yamuna Expressway Industrial Development Authority (YEIDA) plans to align with Gujarat International Finance Tec-City (GIFT) model.
