An important information related to Noida International Jewar Airport has come to light, which can rapidly affect the real estate market of this area. After the implementation of the new rules, there is a possibility of further increase in the prices of land and property around the airport. These rules have been brought by the Yamuna Expressway Industrial Development Authority (YEIDA) to ensure the safety of the airport and curb uncontrolled construction.
What Are The New Rules?
The Airport Authority says that the purpose of the new provisions is to strengthen the safety of the runway and aircraft and to stop haphazard construction in the area. According to the CEO of YIEDA, AAI has prepared a special color-coded zoning map, which will determine what should be the height of the buildings around the airport. If the construction proposals do not conform to these standards, they will not be allowed.
Effect Of These Changes
Due to these rules, it will now be difficult to get permissions for construction work, which will reduce the number of unnecessary buildings. This will improve the safety of runways and aircraft. Along with this, the value of the property will increase. Those who have land, shops or houses in Jewar and areas adjacent to the airport will get direct benefit. When the airport becomes operational, this area can become a major business center due to job opportunities, presence of companies and growth of infrastructure.
Why The Rise In Property Prices?
The property owners of the Jewar area are going to benefit the most from the new rules. Property already selling at high prices may now become more expensive. Usually, economic activities increase around any international airport, increasing the demand for land. This is the reason why big real estate companies are rapidly working on residential and commercial projects in this area.
The Noida International Airport is expected to be operational this year, which will increase traffic on the Yamuna Expressway and its surrounding roads. Also, major companies in the IT and logistics sector are also showing increasing interest in this area.
The real estate market of the Jewar area has picked up pace even before the start of the airport. Now with the implementation of new safety rules, not only will structural control be strengthened, but property prices are also likely to rise significantly. In such a situation, this area is becoming an important center in terms of investment.
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