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Noida Will See Major Changes In The Next 5 Years With An International Airport Coming Up.

Ipsita Ray
2018-07-03

By 2023 Noida will have its own International airport named Jewar. This will speed up its development and real estate potential by many folds. The government of UP is planning to pay a huge amount of Rs 4000 crores to acquire land for this massive project. It will be built to a capacity of 60 lakhs passengers initially and then will be extended for more. A total of 15,000 crores is estimated to build the airport.The project is supposed to be completed by 2022- 23.

 

A total land bank of 1441 hectares has been identified for this prospective project. It is a very big progress for the city of Noida. Noida has seen a lot of new and important developments since the last couple of years. A category builders like Tata, Godrej, Ace, ATS have build super luxurious apartments with premium facilities which the city stands witness.

 

A joint venture will be created between the authorities in a ration decided and the cost will also be borne in the same ratio. The Joint venture will have 37.5% shareholding of the UP government, a similar shareholding of the Noida Development Authority, and 12.5% shares apiece for Greater Noida Development Authority and the Yamuna Expressway Industrial Development Authorities.

 

A total of Rs 4000 crores will be spend for the project by the following authorities:

The State Civil Aviation Department  Rs 1500 crores

Noida Development Authority             Rs 1500 crores

The Greater Noida Authority               Rs 500 crores

Yamuna Expressway Industrial Development Authority

(YEIDA)                                               Rs 500 crores


 

This spending was approved only after it was approved by the cabinet. The Centre has cleared the site for the project and the ministries of home and defence have given their no objection certificates along with an in-principle clearance for immigration services

 

The entire project has been divided into four stages of completion. The Jewar airport project is expected to generate about one lakh employment opportunity. The nodal agency for the project, is also planning to soon float the scheme for development of hotel, motel, plaza, shopping centre and convention centre.

 

The UP government is also examining the feasibility of having a dedicated Rapid Rail Transit System corridor from Sarai Kale Khan to the proposed airport site. Three Rapid Rail Transit System routes have already been approved from Sarai Kale Khan hub to Meerut, Panipat and Alwar.

 

The Jewar  Rapid Rail Transit System is being considered in addition to the Greater Noida metro which will be extended to the airport site and another direct link between IGI Airport to Delhis second airport.. The airport will also be connected to the Eastern Peripheral Expressway, which connects Palwal with Kundli, bypassing Delhi. This site will also get an Aerocity like Delhis IGI Airport.

Prime Minister Narendra Modi along with Uttar Pradesh Chief Minister Yogi Adityanath would be attending the foundation stone-laying ceremony which would take place before the Diwali celebrations

 

The property prices are going to hike up very soon. Its is a great time to invest in residential properties in Noida as well as along Dwarka Expressway as this will also have a direct connectivity to both the airports.

Myshopdeal has great range of projects available in Dwarka expressway as well as in Noida. Keep tuned to Myshopdeal for exciting updates and more property news.