Even before work on the proposed Jewar international airport project has begun, the Yamuna Expressway Industrial Development Authority (YEIDA) has allotted 561 residential plots near the site.
“The YEIDA has allotted 561 land plots based on a lucky draw. These land plots are purely for residential purpose and cannot be used for commercial use,” a senior YEIDA official said. The announcement of the airport project has already increased the interest of both developers, home buyers and investors.
“Jewar project will make the area the next realty hotspot. There is a lot of scope for good residential townships. The plan is to set up a green city across 2,500 hectares of land for which a feasibility study will be carried out in the next three months,” the official added.
The authority has already roped in Ernst & Young as a consultant and tasked it with preparing a township plan. The consultants are to submit a detailed plan to YEIDA. After the cabinet gave its nod for the project, the Noida Authority on March 1 had announced a budget of over Rs 1,069.5 crore for the Jewar airport. Official sources claim that in the first week of March, Prime Minister Narendra Modi and UP Chief Minister Yogi Adityanath will lay the foundation stone for the airport.
Another shot in the arm is the plan to implement metro rail connectivity for those commuting from the airport. The Delhi Metro Rail Corporation (DMRC) is planning to connect Jewar with Noida and Greater Noida with the line slated to feature 25 stations. This airport line is to be completed by 2025.
This has opened up an opportunity for YEIDA to cash in on land surrounding the area, with land acquisition for the airport having begun project. YEIDA is to come up with detailed land bank plans within the next two to three months.The district administration has also been instructed to send the compensation directly to bank accounts of farmers.