The Jewar International Airport is expected to reduce the high passenger traffic at Indira Gandhi International Airport, which is currently on the verge of saturation. The first phase is expected to open by 2022-23 and will have six runways at the end of the fourth phase. Spread over an area of 1,334 hectares, the Noida International Airport is being constructed at a cost of Rs 29,560 crores. These upcoming airports in India were also seen as opportunities to fuel economic development in tier-2 and tier-3 cities, which would boost real estate development, as well.Ĭoming up in the suburbs of the national capital, New Delhi, the greenfield Jewar Airport will be India’s biggest airport, in terms of the number of runways. The idea was to develop 100 new airports in India, out of which 70 would be developed at new locations, while the remaining ones would lift the burden on the existing ones in big cities. In April 2017, prime minister Narendra Modi launched UDAN (Ude Desh ka Aam Naagrik), a regional airport development scheme, aimed at boosting connectivity to remote areas of the country and making air travel affordable for everyone. Impact of new airport projects on real estate.Navi Mumbai International Airport, Maharashtra.Orvakal Airport, Kurnool, Andhra Pradesh.
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