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Not just Jewar Airport, brand-new aviation hub to also come up near Noida  |  May 6, 2019

ZeeBiz WebTeam ZeeBiz WebDesk Noida

An aviation hub will be reportedly developed near the proposed Jewar airport near in Noida. According to a report by The Times of India, a project report on the aviation hub has already been submitted by Ernst & Young to the Yamuna Expressway Industrial Development Authority (YEIDA). The report says that the aviation hub will primarily cater to business and leisure travellers. The hub will be powered with clean and green energy. It will also feature a "good" public transport system, entertainment as well as leisure facilities.


According to the report, which quoted YEIDA chairman Arunveer Singh, a golf course, leisure park, musical water fountain, skill development centres etc. can be expected in the aviation hub.


E&Y studied top international airports like Istanbul Airport in Turkey and Schiphol Airport in Amsterdam. The report mentions Singapore's Changi Airport and Incheon International Airport in Korea.


The proposed Jewar airport has created a lot of buzz with millennials preferring to buy home in Noida.


"After the revival of Jewar Airport, millennials have started thinking that in coming days there would be rise in demand for residential real estate properties in Noida and Greater Noida and currently the house property prices are quite low that makes them switch from rented to owned house," Santosh Yadav, CMD, Antriksh India Group, had earlier told Zee Business Online.


Jewar airport has boosted the real estate sector in Noida. The proposed airport has successfully attracted industrial investments in Noida and Greater Noida. It has also prompted real estate developers to launch new projects to meet the expected rise in residential real estate demand from 2022 onwards, when the airport will be expectedly nearing completion. People living on rent have also started searching properties in Noida and Greater Noida as the Central government has made some policy changes like lower GST, tax sops for unsold inventories etc.