by THO
The fact that buyers are willing to invest close to the upcoming Noida International Airport is clearly evident if one takes into account the response received for the residential plots scheme launched by the Yamuna Expressway Industrial Development Authority (YEIDA) during Diwali—1.12 lakh applications for 451 residential plots in sector 24 A.
According to the data shared by YEIDA, the Authority’s housing plot scheme generated revenue of close to ₹4,848 crore.
The draw will be conducted on December 27, 2024, officials told HT.com
The scheme opened on October 31 and closed on November 30.
This is interesting because Noida International Airport (NIA) conducted its first flight validation test on 9 December before its commercial opening in April 2025.
YEIDA had launched residential plots in five categories- 120 square metres (sq m), 162 sq m, 200 sq m, 250 sq m, and 260 sq m. On offer were 100 plots of 120 sq m, 169 plots of 162 sq m, 172 plots of 200 sq m, six plots of 250 sq m, and four plots of 260 sq m. The plots are priced at ₹25,900 per sq m.
The data showed that 48,266 applications were received for the 200 sq m plots, 36,523 for the 162 sq m plots, 24,063 for the 120 sq m plots, and 1,837 applications for the 250 sq m plots. The 260 sq m plots drew 1,333 applicants.
The area surrounding the Noida International Airport, which includes the planned international film city, has generated considerable interest among homebuilders. Many buyers view this as an excellent opportunity to invest in a developing urban hub, with the airport expected to commence operations by April 2025.
In September, Yeida launched a 361-plot scheme in which over 200,000 applicants applied for plots located near Noida International Airport in Jewar. The scheme is slated to become operational by April 17, 2025. The previous scheme offered plot sizes ranging from 120 to 4,000 sqm, priced at ₹29,500 per sqm.
Jewar in UP among 8 emerging property micro-markets, land prices up 40% in last five years
Small-town Jewar along the Yamuna Expressway is emerging as the country’s fastest-growing real estate micro-markets. According to a report by Colliers India, land prices in the area have risen by 40% over the past five years and are estimated to increase by 50% by 2030.
Real estate consultant Colliers India said in a report ‘Infrastructure & Mega Projects—The Key Enablers of Urban Expansion in India’ released on December 9 that land prices in Jewar township will rise 50% by 2030.
This is fuelled by key infrastructure developments such as the Jewar Airport (Noida International Airport), metro extension and themed city projects.
“Jewar is a small town located along Yamuna-Expressway. It is rapidly transforming into a prominent investment destination with a combination of strategic infrastructure, industrial expansion and robust government initiatives,” the report said.
“The upcoming Jewar airport is the biggest catalyst for urbanisation in Uttar Pradesh. Its strategic location along the newly built Yamuna Expressway, connecting the urban centres of Delhi, Noida and Agra serves as a distinct advantage,” Colliers India said.
It added that initiatives like YEIDA, International Film City, and Metro Line expansion have further accelerated Jewar’s growth as a township.
“These initiatives have contributed to a land price appreciation of nearly 1.4x in the last five years from ₹5,000 to ₹7,000 per sq ft (2020-2024),” Colliers said, adding that the land prices are estimated to rise further to ₹10,482 per square feet by 2030.
Jewar is among eight emerging micro-markets in India thriving through major infrastructure development.
The report showed that the other seven micro-markets are Sonipat, NCR; Khopoli, MMR, Maharashtra; GIFT City, Gandhinagar, Gujarat; Sanand, Ahmedabad, Gujarat; Doddaballapur, Bengaluru, Karnataka; Oragadam, Chennai, Tamil Nadu; and Mucherla, Hyderabad, Telangana.
