Even during the BSP rule in Uttar Pradesh during 2008-12, there was a plan to build an international airport in Jewar. During this time, Sardar Mohinder Singh, the then CEO/President of Noida, Greno, used to say one thing: if an international airport is built in Jewar. This region’s economy will be the fastest growing in the country. After about ten years, what he said is proving to be entirely accurate for the real estate and property business here.
This year is a great year for the property and real estate business, which has been suffering from recession for a long time. Experts claim that the demand will increase in UP’s most developed cities, Noida, Greno and Yida, which are preparing to set new records and hoping to reach new heights in 2024. According to experts, the sale of houses in the first nine months of this year was at the highest.
Despite the increase in interest rates and housing prices, 3 lakh 49 thousand houses have been sold in the top seven cities, including Delhi NCR, 96 per cent of the total sales recorded in 2022. It is being told that about one lakh of these houses/flats have been sold in Delhi NCR. Based on this data, 273 houses are sold every day. Of these, 84,400 units were in the expensive (luxury) category, whose price was Rs 1.5 crore or more. Annual growth of 115 per cent has been recorded in this category. The highest sales have been recorded in Noida, Greater Noida and Ghaziabad.
According to Manoj Gaur, President of builders’ body CREDAI NCR and Chief Managing Director of Gaur Group, the real estate boom that started in 2022 has touched new heights this year. It is expected to go up further in the coming year. This rise has been seen in Delhi NCR and the entire country. Due to the international airport in Jewar, there is a huge demand for property in all three places – Noida, Greno and Yida. People from other states and even abroad are investing here. People understand the importance of international airports.
