Every micro-economy has its catalysts. These are the developments that everyone talks about for creating mass employment, establishing revenues, and driving regional growth.
Years ago, the Indira Gandhi International Airport catalysed NCR's regional growth. Now, the Noida International Airport is set to take over.
Noida International Airport (Jewar Airport) is a public-private partnership project of the Uttar Pradesh government developed by Flughafen Zürich AG, the operator of the Zurich International Airport. It is set to be Asia and India's largest, with the first phase of operations beginning in 2024.
The fact that makes it one-of-its-kind is scale. It is in line to be a global landmark whose five runways catering to 225 million passengers annually (at full capacity) shall create nearly a lakh jobs for the region. That also means it is among the top five airports in the world in terms of passenger capacity.
But that's not all!
Multiple factors make the Noida International Airport India's next big thing.
Here they are:
Five reasons why Jewar Airport is India's next big thing:
Location –The Noida International Airport on Yamuna Expressway has access to Delhi, Noida, and NCR. That positions it to fuel the commercial and industrial economy across major NCR regions as a logistics & transportation hub linking investments on the Yamuna Expressway to the global value chains.
Infrastructure Development – Uttar Pradesh Government's initiatives towards large and significant regional infrastructure development include building highways and metro rail systems connecting the airport to various NCR locations.
Key projects like the metro link between Jewar and Greater Noida's Knowledge Park-2, Delhi-Varanasi high-speed rail linking Delhi to Jewar airport in 21 minutes, and many more listed later are in progress to improve accessibility further directly impacting commercial and residential properties for sale on Yamuna Expressway.
Real Estate - The airport's location ties it to Noida, Greater Noida, Yamuna Expressway, Faridabad, and nearby areas. It is projected to draw in Rs. 60,000 crores worth of investments alongside a massive employment infrastructure.
That makes it fertile ground for developments like the Gaur Yamuna City to jump on the bandwagon. The township is among the first ready-to-move commercial and residential spaces on the Yamuna expressway –the only infrastructure of its kind in that region.
Logistics and Manufacturing - The upcoming Jewar airport will have a maintenance, repair & overhaul (MRO) facility creating a sizeable number of jobs and revenue generation.
According to Yamuna Expressway Industrial Development Authority (YEIDA), MRO would boost micro, small, and medium-sized businesses, and conserve foreign currency.
Besides, the government of India is developing the Delhi-Mumbai Industrial Corridor (DMIC) to link up smart industrial cities that will drive infrastructure and logistics across the country.
The DMIC will pass through Dadri, enhancing logistics, warehousing hubs, and special development zones along the Yamuna Expressway. Many significant companies like Avery Dennison, USA's leading packaging and labelling company; LuLu Group International, a Middle East-based retail company; Vivo, a Chinese multinational technology company, etc., are setting up manufacturing plants along the Yamuna Expressway along the Jewar Airport.
International Trade- The multi-modal cargo hub at Jewar Airport will facilitate integrated warehousing and logistics zone, significantly impacting shipment activity and boosting exports and imports. It will directly connect a significant export centre with international markets and facilitate the export of perishable goods.
Other development initiatives – Development initiatives like the Industrial corridor, IT park, Film City, Toy City, and Textile Park are just a glimpse into what lies ahead as the Jewar airport drives the real estate market, fuelling the demand for residential and commercial properties on Yamuna Expressway.
Projections are that the prices of flats and apartments along the Yamuna Expressway along the airport site will increase by up to 50% over the next five to seven years.
It has understandably created a gold rush for investments in the region. Moreover, the airport will mobilise unsold inventory of Noida, Greater Noida, and Yamuna Expressway, as these areas witness increased investor interest from developers and homebuyers alike.
Leading developers have already set foot in the area, including Supertech, Gaursons, Ajnara, and ATS.
Major upcoming attractions along the Yamuna Expressway -
Data Centre: Tech giants like Microsoft & NTT --a leading Japanese company—among others, are setting up their technology hubs here to drive digital innovation while employing thousands of professionals.
VIVO, a leading Chinese mobile manufacturer, has pledged investments worth ₹3500 crores, leading to more than 25,000 jobs.
The Patanjali Food Park is in progress-- potentially generating 20,000 jobs.
The Film City, announced by the government of Uttar Pradesh, at a proposed investment of Rs. 10,000 crore, shall provide an integrated media infrastructure for the entire value chain of film pre-production, film tourism, and post-production along with digital technology & VFX.
Textile Park, spread across 8,09,371 sq. metres, will streamline the textile value chain into one ecosystem spanning spinning, weaving, and dying to printing and garment manufacturing, generating approximately 5,00,000 jobs.
A Toy Park spread across 4,04,686 sq. metres includes investments from Fun Zoo Toys India, Fun Ride Toys LLP, Super Shoes, Ayush Toy Marketing, Sunlord Apparels, Bharat Plastics, Jai Shree Krishna, Ganpati Creations and RRS Traders, among others.
A Medical Device Park being developed in Sector 28, spread over 14,16,450 sq. metres, aims to create employment opportunities for 7,000 people. The Park will house the Export Promotion Council for Medical Devices headquarters and support all medical device manufacturers in export issues.
A Leather Park will engage in products like footwear, bags, apparel, and accessories and have all modern amenities, including manufacturing units, design centres, display/exhibition convention centres, labour and supervisor training institute and common facility centre, generating job opportunities for approximately 50,000 people.
The Electronic Park has an area of 10,11,750 sq. metres, where national and international companies are ready to establish their production units for making mobile phones, TVs, and other electronic goods.
The Gaurs group's Gaur Yamuna City (GYC), a blended township offering residential and commercial properties for sale on Yamuna Expressway, enveloped by flagship developments, is pulling in homebuyers and investors looking for secured future investments with high returns.
All things considered, including the massive scale of investments and employment opportunities, it can be argued that Jewar is to Noida what Gurugram is to Delhi.
And that is why many believe that Noida is set to be the next Gurugram, thanks to the incredible infrastructural development that is the Noida International Airport.
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