Property values near Jewar Airport may rise up to 20 pc annually: Industry
New Delhi, June 15
The commencement of commercial flight operations at the Noida International Airport in Jewar is expected to significantly boost real estate activity in the region, with property values projected to grow at a compound annual rate of 15-20 per cent over the next four to five years, according to industry experts on Monday.
Industry stakeholders believe the airport's operationalisation holds immense long-term potential to elevate the region's real estate ecosystem and strengthen its position as a key investment destination.
"The international airport will further attract global occupiers, strengthening Noida's office market," industry experts said.
Although the residential market has already factored in the development in terms of prices to an extent, prominent residential localities along the Noida Expressway will see increasing traction in new launches and housing sales, they said.
According to real estate consultancy Colliers India, Noida is expected to witness annual office leasing of 2-3 million square feet, accounting for nearly one-fourth of Delhi-NCR's Grade A office space absorption from 2026 onwards.
The enhanced connectivity offered by the airport is likely to improve the region's attractiveness among multinational companies and corporate occupiers, further strengthening demand for premium office spaces.
On the residential front, the airport-led development has already been partially reflected in property prices.
However, prominent residential micro-markets along the Noida Expressway are expected to witness increasing traction in terms of new project launches and housing sales.
Colliers estimates that average capital values in areas surrounding the airport could rise at a compound annual growth rate (CAGR) of 15-20 per cent over the next four to five years, driven by demand in both the middle-income and luxury housing segments.
Notably, IndiGo became the first airline to start flight operations from Noida International Airport (NIA) in Jewar. The first flight was arrived at NIA from Lucknow.
Earlier in March, Civil Aviation Minister Ram Mohan Naidu said the airport, inaugurated by Prime Minister Narendra Modi, would emerge as a major hub for employment, investment and economic growth, benefiting not only Uttar Pradesh but the entire country.
Addressing the inauguration ceremony, Naidu described the launch as a moment of pride for the nation and said the airport would significantly boost the region's development.
— IANS
Reader Comments
Finally, something good happening for UP! 🙌 We have been waiting years for this airport. With IndiGo starting flights, I can already imagine my relatives landing directly in Jewar instead of Delhi traffic jams. But honestly, property prices rising doesn't help us locals who already live here - we'll have to pay more rent now.
I've been following real estate near airports globally - typically values stabilize after initial hype. 20% CAGR over 5 years sounds aggressive, especially with current market conditions. Would advise buying only if you're planning long-term hold (10+ years). Also, infrastructure needs to keep pace - new roads and better public transport are must have, not nice to haves.
My father bought land near Jewar 3 years ago at what seemed like a crazy price to me then. Now I'm feeling silly for questioning him! 🤦♀️ This airport is going to transform not just Noida but the whole Western UP region. Connectivity to Lucknow, Delhi, and soon international flights - the multiplier effect on local businesses will be huge.
Let's be honest - these projections come from real estate consultancies who have skin in the game. Colliers will obviously talk up the market. I want to see actual transaction data before believing 20% annual growth. And what about the farmers who lost their land for this project? They should be first to benefit from any value appreciation, not just builders and investors. 👨🌾
Great news for Noida! 👍 The airport will create thousands of direct and indirect jobs. My cousin is already applying
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