Noida is one of the residential areas close to Delhi. The city has lower capital values compared to Gurgaon primarily because it is a residential settlement and also its distance from the IGI Airport. Noida is close to East Delhi whereas the airport is towards south Delhi. Those living in Noida have to drive for 35 kilometres to reach the Indira Gandhi International Airport while those in Gurgaon and make do with a ride of 20 minutes. The drive time from Noida is more than 1 hour.
This is another reason why companies have chosen Gurgaon over Noida for setting up their offices. The average rates for apartments for sale in Noida are around Rs 8000 or so whereas in Gurgaon it is Rs 10,000. The same goes for rental property and office spaces. To end this disparity between Noida and Gurgaon, the ministry of civil aviation has approved a project for constructing a new airport in Jewar. The area is located along the Yamuna Expressway that connects Agra with Greater Noida. The airport may turn out to be the necessary boost for property for sale in Noida and its extended areas. It would revive the sales of home and boost infrastructure development.
The airport would be a boost to the economy of Uttar Pradesh. The state is home to several big cities like Agra, Kanpur and Lucknow. It would certainly make travelling to tourist destinations in the state easier. Compared to Gurgaon, Noida is much cheap and the construction of the airport shall equate the playing field for these two cities of NCR.
Prices of property for sale in Noida even for those belonging to the upper tier are not even half the rate being charged in Gurgaon. The ongoing rate for Gurgaon's posh neighbourhoods is Rs 2000 per sq ft. The affordability of apartments for sale in Noida has acted as impetus for real estate developers whose affordable and middle income projects were snapped up by home buyers. However, the area's corporate demand is not up to the market. The Jewar Airport is anticipated to create jobs and steer the city's economy.
After the construction of the airport, warehousing may become an important activity in the area. Manufacturing processes shall develop too which would better the process of job creation. The reviving economic condition of the city shall boost demand for office space and housing in the city. Sales of homes in most of the NCR, especially in neighbourhoods by the Yamuna Express have been slow in the last couple of years. Top developers of the city such as Jaypee, Gaursons, ATS and Supertech have under construction projects in several pockets of Noida.
In fact, the announcement made by the ministry shall help sales pick up in the short run. Once construction commences, the demand for office space shall increase and prices would begin to climb up. Property experts and developers expect the new airport to alter Noida's profile. The project is still in a nascent stage and specifications are yet to be announced.
This is another reason why companies have chosen Gurgaon over Noida for setting up their offices. The average rates for apartments for sale in Noida are around Rs 8000 or so whereas in Gurgaon it is Rs 10,000. The same goes for rental property and office spaces. To end this disparity between Noida and Gurgaon, the ministry of civil aviation has approved a project for constructing a new airport in Jewar. The area is located along the Yamuna Expressway that connects Agra with Greater Noida. The airport may turn out to be the necessary boost for property for sale in Noida and its extended areas. It would revive the sales of home and boost infrastructure development.
The airport would be a boost to the economy of Uttar Pradesh. The state is home to several big cities like Agra, Kanpur and Lucknow. It would certainly make travelling to tourist destinations in the state easier. Compared to Gurgaon, Noida is much cheap and the construction of the airport shall equate the playing field for these two cities of NCR.
Prices of property for sale in Noida even for those belonging to the upper tier are not even half the rate being charged in Gurgaon. The ongoing rate for Gurgaon's posh neighbourhoods is Rs 2000 per sq ft. The affordability of apartments for sale in Noida has acted as impetus for real estate developers whose affordable and middle income projects were snapped up by home buyers. However, the area's corporate demand is not up to the market. The Jewar Airport is anticipated to create jobs and steer the city's economy.
After the construction of the airport, warehousing may become an important activity in the area. Manufacturing processes shall develop too which would better the process of job creation. The reviving economic condition of the city shall boost demand for office space and housing in the city. Sales of homes in most of the NCR, especially in neighbourhoods by the Yamuna Express have been slow in the last couple of years. Top developers of the city such as Jaypee, Gaursons, ATS and Supertech have under construction projects in several pockets of Noida.
In fact, the announcement made by the ministry shall help sales pick up in the short run. Once construction commences, the demand for office space shall increase and prices would begin to climb up. Property experts and developers expect the new airport to alter Noida's profile. The project is still in a nascent stage and specifications are yet to be announced.
Courtesy By :- http://ezinearticles.com/?How-Will-the-Jewar-Airport-Shape-Noidas-Property-Market?&id=9098608
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