The start of commercial flight operations at the Noida International Airport in Jewar would considerably increase real estate activity in the area, with property values estimated to rise at a compound annual rate of 15-20% over the next four to five years.
Stakeholders in the industry feel that the airport’s operationalization has great long-term potential to improve the real estate ecosystem of the area and reinforce its position as a major investment destination.
Industry specialists predicted that the international airport will draw additional international occupiers, bolstering Noida’s office market.
According to them, even if the residential market has already absorbed the growth to some extent in terms of prices, major residential areas along the Noida Expressway will experience greater interest in new launches and housing sales.
From 2026 forward, Noida is anticipated to absorb 2-3 million square feet of office space each year, or close to one-fourth of the Grade A office space in Delhi-NCR, according to Colliers India, a real estate consultancy.
The improved connectivity provided by the airport is anticipated to increase the appeal of the area among corporate tenants and multinational corporations, which will boost demand for high-end office space.
The airport-driven development has already had an impact on property values in terms of residences.
However, it is predicted that significant residential micro-markets along the Noida Expressway would see growing interest in terms of new project introductions and housing purchases.
Colliers projects that demand in both the luxury and middle-income housing categories will drive average capital values in the areas around the airport to increase at a compound annual growth rate (CAGR) of 15-20% over the following four to five years.
It is important to note that IndiGo was the first airline to launch flight operations from Jewar’s Noida International Airport (NIA). Lucknow to NIA saw its first flight arrive.
In March, Civil Aviation Minister Ram Mohan Naidu stated that the airport, which Prime Minister Narendra Modi opened, will serve as a significant center for employment, investment, and economic expansion, benefiting both Uttar Pradesh and the whole country.
Speaking at the opening ceremony, Naidu called the launch a source of national pride and predicted that the airport would significantly advance the area’s growth.
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