Noida News: The Noida International Airport, nearing its completion, has spurred a wave of industrial and residential development in the Jewar region of western Uttar Pradesh. Once a quiet hamlet off the Yamuna Expressway—which connects Noida in the National Capital Region (NCR) to Agra—Jewar is now a hotbed of activity and development.
Surge in Development and Land Prices
With the government taking active measures to boost industrial and residential growth around the mega airport project, Jewar has witnessed rapid infrastructure improvements. The region has seen a significant uptick in road construction, conversion of agricultural land for industrial and residential purposes, and extensive land transactions between government and private entities. These activities have led to a substantial surge in land prices in and around Jewar.
While the Delhi-NCR real estate market has lagged behind other key markets in India, such as Hyderabad, Bengaluru, and Pune, Jewar has emerged as a bright spot, delivering high returns to investors. Since 2018, when the Noida International Airport project gained momentum, land prices have soared. According to industry estimates, the price of 1 hectare of land in Jewar, which cost Rs 25-28 lakh in 2018, has skyrocketed to Rs 1.25-1.5 crore by mid-2024—a more than 400% increase in just six years.
Rising Demand for Residential and Industrial Projects
The burgeoning demand for land parcels around the upcoming airport has drawn the attention of investors and homebuyers, bringing realtors into the fray. Several key residential projects are nearing completion, and many new launches are in the pipeline, contributing to further price escalation in the region.
Notable projects include Nimbus Realty and the Gulshan Group, in partnership with the Jaypee Group, which are developing a luxury residential project along the expressway, spanning 1.5 million sq. ft. These developments promise to transform Jewar into a major residential and industrial hub, enhancing its attractiveness to investors and homebuyers alike.
Government Initiatives and Future Prospects
The government’s proactive approach to fostering development around the Noida International Airport has been instrumental in Jewar’s rapid transformation. Infrastructure projects, policy reforms, and strategic investments are expected to continue driving growth in the region.
As Jewar evolves from a sleepy hamlet into a bustling real estate hotspot, it exemplifies the potential for regional development driven by strategic infrastructure projects. The ongoing transformation of Jewar is a testament to the significant economic and social benefits that large-scale infrastructure projects can bring to local communities.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
