Noida International Airport’s Successful Flight Validation Test Boosts Real Estate Along Yamuna Expressway
The recent successful flight validation test at the upcoming Noida International Airport (NIA) in Jewar, Western Uttar Pradesh, has sparked a wave of optimism in the real estate sector along the Yamuna Expressway. With the airport set to commence commercial operations by April 2025, experts predict a surge in demand for residential, commercial, and logistics projects in the region, driven by infrastructure development and economic opportunities.
Real Estate Projects Gain Momentum
The Yamuna Expressway Industrial Development Authority (YEIDA) has already initiated several schemes to capitalize on the growing interest. In November 2024, YEIDA launched a group housing plots scheme offering 20 plots in sectors 17, 18, and 22D. The scheme, which closes on December 18, 2024, is expected to add 25,000 to 30,000 housing units to the market. Additionally, YEIDA is seeking a consultant to develop a 100-acre residential township in Sector 24A, further supporting the region’s growth.
The response to YEIDA’s Diwali residential plots scheme—1.12 lakh applications for 451 plots in Sector 24A—underscores the strong investor and end-user interest in the area.
A Shift in Market Dynamics
Historically, Greater Noida and Yamuna Expressway have faced challenges with liveability, with many housing projects remaining unoccupied. However, the upcoming airport is expected to transform the region into a thriving hub. Real estate experts believe the airport will not only boost residential markets in Noida and Greater Noida but also spur commercial developments such as office spaces, retail, and logistics.
Vikas Tomar, Executive President and Business Head of Square Yards, noted, “The demand has pushed property prices along this corridor, which have doubled since 2020. As the airport nears full operational status, we anticipate sustained momentum, with developers strategically positioning themselves to meet robust demand.”
Investors Lead the Charge
Currently, the market is dominated by investors, who account for 70% of buyers, while end-users make up 30%. Gaurav Mavi, Co-founder of BOP.in, explained that end-users typically enter the market when properties near completion, while investors capitalize on early-stage opportunities.
Private builders have recently launched plots priced between ₹1.35 lakh to ₹1.50 lakh per square yard, with 3- and 4-BHK units selling at ₹10,000 to ₹12,000 per square foot. The area has also attracted interest from buyers in Lucknow, Kanpur, Agra, Gorakhpur, and Delhi-NCR.
Infrastructure Driving Growth
The region’s growth is further supported by planned infrastructure projects, including industrial parks, medical manufacturing hubs, IT zones, and Film City. Improved connectivity through the Yamuna Expressway, Eastern Peripheral Expressway, and upcoming metro and rapid rail networks will enhance accessibility, making the area more attractive for both residential and commercial purposes.
Mudassir Zaidi, Executive Director—North, Knight Frank India, highlighted that the airport will drive demand for logistics, commercial office spaces, and hospitality. “Residential projects will be launched first to cater to the housing needs of those working in the area, followed by commercial developments,” he said.
Price Appreciation and Future Prospects
According to a report by Colliers India, land prices in Jewar have risen by 40% over the past five years, from ₹5,000 to ₹7,000 per square foot. The report predicts a further 50% increase by 2030, with prices expected to reach ₹10,482 per square foot. This appreciation is fueled by key infrastructure developments, including the Jewar Airport, metro extensions, and themed city projects.
Conclusion
The Noida International Airport is set to be a game-changer for the real estate market along the Yamuna Expressway. With a mix of residential, commercial, and logistics developments on the horizon, the region is poised for sustained growth, offering lucrative opportunities for both investors and end-users. As the airport’s operational date approaches, the real estate market in this corridor is expected to witness unprecedented momentum, making it one of the most promising investment destinations in the National Capital Region (NCR).
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