Another reason to cheer for all those investors who have either invested at the development sites around Jewar or are planning to make one. Yes, you read it right, Jewar airport will feature metro connectivity. As per the news circulated in the media, the Uttar Pradesh government has told the aviation ministry that they will extend the upcoming Greater Noida Metro line to the proposed airport site at Jewar. The ongoing construction work on this metro is cleared till Pari Chowk. However, with this suggestion into play, it will get connected to Jewar.
The proposal of an international airport at Jewar was on cards since last more than 5 years. The current Civil Aviation Minister on June 24, 2017, told the media persons that in order to serve the surging flying needs of the national capital region, the ministry has approved the proposal for an airport at Jewar Village, Greater Noida. A rough estimation says this airport will cater around 30 to 50 million flyers every year for over the coming 10-15 years.
Where is Jewar Situated?
Jewar is a Nagar Panchayat and a city in Uttar Pradesh. Earlier it was a part of the district of Bulandshahr, but now, it comes under the jurisdiction of the Gautam Buddha district. Jewar is situated in suburbs of Greater Noida and it is around 40 and 60 km drive away from Greater Noida and Noida, respectively.
Scope of Investment in Jewar
Since the time of the announcement of an international airport in Jewar, it has seen a tremendous development in respect to real estate. A lot of builders and developers are planning to make this place a new residential avenue for the home buyers. The news of metro connectivity up to Jewar is a sign that the real estate market in the area around Jewar is going to see some new heights in the coming years.
Affordability of the Area
As Jewar is in its developing phase, hence the property in and around this city is a bit affordable than other parts of Noida. But, once the airport and metro construction begins here, there is a strong chance that the real estate developments in Jewar will see a sharp rise in the prices.
Bonanza for Land Owners
All in all, around 5,000 hectares of land is required for the construction of Jewar Airport, of which 962 hectares has already been acquired by the Yamuna Expressway Industrial Development Authority (YEIDA). A fresh call has been made to the Government of Uttar Pradesh by YEIDA to seek ₹2000 to acquire another 1,000 hectares of land for agriculture land from the land owners. The news of the metro connectivity has now become another USP that will turn the table in favour of the land owners. This means, what so ever may be the circumstances, the land owners of Jewar will enjoy a windfall on them.