Prime Minister Narendra Modi laid the foundation stone of the Noida International Airport in Jewar, Uttar Pradesh, on Nov 25, 2021. It is India’s largest airport, Spread across an area of 1,334 acres. Noida International Airport is being developed by the Yamuna International Airport Private Limited (YIAPL), a 100% subsidiary of Swiss concessionaire Zurich International Airport AG.
The total cost of this project is Rs. 29,560 crore (Approx.). The construction work is underway, and the first phase of the airport is likely to be completed by 2024. After that, the airport’s construction will be completed in four phases over approximately 30 years. Once it becomes operational, Uttar Pradesh will have five airports.
Here’s are the benefits of this project:
- JOB OPPORTUNITIES
The airport’s strategic location is likely to create job opportunities for at least 1 lakh people, according to Civil Aviation Minister Jyotiraditya Scindia. In addition, job opportunities will arise in constructing a significant project once the airport becomes operational.
Apart from job creation, the project could also attract significant investment in the region. Officials estimate that the airport will bring an investment of Rs. 35,000 million. In addition, in the first years after completion, the airport is expected to present investment of Rs. 10,000 crore in adjacent areas.
Given its strategic location, most companies may look to invest in the region. It is located approximately 72 kilometers from Delhi’s IGI airport and 40 kilometers from the crowded transport hub at Dadri. Investment may be related to the development of the real estate, offices, etc.
- IMPORTS & EXPORTS
It is worth mentioning that Noida International Airport will be the first airport with a multidisciplinary cargo base, which will significantly improve export and improve exports and imports. In addition, the size of the airport will also allow for a larger supply of goods, which will ultimately contribute to the economic development of the state.
The airport is expected to increase revenue from tourism in the province. Once completed, the airport will be easily accessible to East Delhi, Noida, Ghaziabad, Greater Noida, Meerut and nearby western, western states. In addition, with the target of falling more than a million feet a year, the airport will significantly improve tourism in Agra and Matrafra.
· BOOST REAL ESTATE
It is also likely to significantly boost real estate development and sales in the Greater Noida region. Jewar Airport has been included as an important project for professionals following the real estate sector. They feel the project will increase demand for real estate on Noida, Greater Noida, and Yamuna Expressway.