Airport in Jewar Resolves Green Hurdle

Property
Jewar Airport

The Union Civil Aviation Ministry is providing the in-principle authorization to the Jewar Airport dated 23rd April. The long-nurtured dream of Uttar Pradesh government is to get the second airport in the region of a national capital. The in-principle approval will make this dream comes real soon. The ministry level approval for Jewar Airport along the Yamuna Expressway of 165-kilometer has come sixteen years of duration after the plan mooted by a state government.  The minister of environment offered clearance on 12th June for Jewar airport, resolving the final hurdle.

Essential Details

The authorities will begin the process from June to get land for this project. There is about five thousand hectare of land requires for constructing this airport. When it comes to bidding task for this construction, it will begin in the month of July. The project’s foundation-laying ceremony will be held in October month. The officials say that the veny is attended by Narendra Modi, who is a prime minister of India, along with Yogi Adityanath, who is a chief minister of Uttar Pradesh. The Center is previously directed to a venture nodal agency named Yamuna Expressway Industrial Development Authority as well as a consultant named PricewaterhouseCoopers for preparing the bid document. It helps to choose the builder by July. This construction job will be possibly started by the month of March 2019.

Based on the media report, this job will begin before the 2019 General Elections because the government of this state has previously approved the development of a joint venture firm to get land needed for developing the initial phase of airport projects. The entities which are a portion of JV are the Noida Authority (37.5%), Yamuna Expressway Industrial Development Authority (12.5%), UP government (37.5%) and the Greater Noida Authority (12.5%).

The initial phase of this airport is anticipated to be prepared by 2023. When it comes to the second airport, it will be developed in this region at the approximate budget of about Rs 20,000 crore.

The Jewar Airport will have the Aerocit on lines of one at IGI airport that is developed by Yamuna Expressway Industrial Development Authority. It is a nodal agency that will develop this airport project.

About Metro Link

The Center aims to link this Airport project with Indira Gandhi International Airport of Delhi through a straight Metro link. It will have extra Metro connectivity with a Metro Line of Greater Noida.   It is in the month of August last year when the government authority exposed its plans for extending the Metro Line of Greater Noida to an airport site located in Jewar. It means that Metro link is fixed further from the Pari Chowk.

About The Speedy Rail Link

The Yogi Adityanath-led government of Uttar Pradesh is considering the potential of linking the airport with the Sarai Kale Khan through the devoted RRTS (Rapid Rail Transit System).  Prabhat Kumar who is a Yeida chief said that the rail is speedy than Metro rail because of less number of stations where the rail required stopping, as well as is ideal for this airport. When it comes to Yeida, it is possible to grant the plan an upcoming meeting on dated 7th May, said by media reports.

Also, the plans are in making for connecting this airport with Eastern Peripheral Expressway.  This expressway links Palwal of Haryana with Kundli, going around the national capital.

NCR Real Estate is Impacted by Jewar Airport

As many infrastructure projects which benefit the real estate industry, this Jewar airport is also anticipated to impact the dynamics of the property market in both Noida and its adjoining areas.

Getambar Anand, who is a Present of Confederation of Real Estate Developers Association of India, is quoted by the Hindustan Times that “It is good news for real estate experts in the location as this airport project is a large job creator. It is one of the highly required boosts to real estate field. We are waiting for this positive decision from the government. Even though it will take 4 or 5 years to develop the airport, the region will turn into an excellent investment option”.

Realtor waits for this airport project to do a similar magic to the real estate of Noida what actually IGI airport project did to the real estate of Gurgaon.

Location of Jewar

Jewar is currently a Nagar panchayat under the Gautam Budh Nagar district. It was the previous segment of Bulandshahr district in Uttar Pradesh. The overall popular of Jewar is 32,269. It looks for seeing complete-scale growth, instead of being a segment of NCR.

Investment in the region

Due to the arrival of an airport, the real estate experts are invested hugely around Jewar region. Though, a new slim in the real estate field leads to a big inventory pile-up. The upcoming airport will affect the property prices positively.

Many companies of the US have since expressed more interest in developing repair, overhaul and maintenance centre at Jewar Airport, property rates here may increase more.

Reasons for developing Jewar airport

Nand Gopal Gupta who is a minister of UP Civil Aviation told that “most of the regions will benefit with this airport development, and it is beneficial for western UP citizens who are travelling over 250 kilometres for Lucknow or Delhi airports”.

Citizens living in different regions of western UP and few regions of Rajasthan are travelling to Delhi on a trip of two hours when they decide to take air travel. The Jewar airport will be an excellent help for these individuals. It will not just address aviation requirements of Delhi, but of other cities including Meerut, Mathura, Agra, and Bulandshahr also.

The ministry of Union civil aviation expects the airport to provide an economic potential and bolster tourism to this region.

As per PwC, the agency which prepares an economic feasibility report for Jewar Airport is anticipated to handle more than 10 crore travellers by 2050. “Also by 2050, this airport can surely serve 31 international and 37 domestic destinations, “it told.

Affordability in flying

This proposed airport is not only developed as the segment of the regional connectivity scheme of the government but also anticipated to give affordable options to the fliers.

As per PwC, the upcoming airport project will not just provide places in Uttar Pradesh near to NECT but also will benefit the regions in some neighbouring states.  If the function of this airport wills starts, many cities are benefited by this project. It includes Adampur, Gwalior, Bhatinda, Pathankot, and Shimla, says PwC.

Bonus for landowners

The GNDA (Greater Noida District Administration) will buy land directly from the farmers of thirty-nine villages in this area for fast-tracking the work. It means that land acquisition Act of 2013 is not invoked in this land buying process. Though, authorities will require engaging in the hard bargaining in terms of pricing. The GNDA is providing farmers about Rs 1,895 per square foot, but the farmers are demanding about Rs 5,000 psf.

The new report shows that villagers are asking 4 times the circle amount for selling their land when the administration is providing just 2 times the circle amount for acquiring. The landowners are threatened to resort to the Bhatta-Parsaul style objection if the demands of landowners are not satisfied.

The land rates in an area significantly increased after the Jewar airport is declared. While a bigha of land was actually sold for about Rs 4-5 lakh in before, the cost has currently touched about Rs 20-25 lakh per bigha. A bigha of the land actually measures about 843 square meters.

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