Page 26 - Construction_Opportunities_April_2024

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CONSTRUCTION With the airport expected to boost economic activity and fast- new buyers. The surrounding area is emerging as a prime location
TOP INDUSTRY LEADERS VIEWS ON UPCOMING NOIDA
INTERNATIONAL AIRPORT
for fresh investments, leading to a surge in property values due to
escalating demand. “The Yamuna Expressway real estate market
is booming as it has high potential in terms of investment and
track connectivity putting the Yamuna Expressway region on the
international roadmap, end-users can take advantage of the
growth. The impending opening of Noida International Airport is
a game-changer for this region, and we expect property prices
current affordability of properties in this area.
to rise significantly in the near future,” said Vijay Jain, Managing
In this highly positive scenario, expressing optimism about the
Yamuna Expressway real estate market, Ajay Chaudhary, CMD,
estate market of Yamuna Expressway.
Ace Group said, “We are highly optimistic about the prospects
of the Yamuna Expressway real estate market, especially with Director, Star Estate, while shedding light on the booming real
UAE-based realty major Danube Properties, which recently
the imminent opening of the Noida International Airport. This announced a 65-storeyed skyscraper named Diamondz located
development further solidifies the region’s status as a prime at Jumeirah Lake Towers in Dubai, is also very optimistic about
investment destination. Ace Group is committed to delivering the upcoming opening of Noida International Airport. It’s very
innovative and high-quality projects that meet the evolving needs bullish about the positive impact of this airport on the real estate
of our customers. We have already launched a couple of new markets. Rizwan Sajan, Founder and Chairman, Danube Group
projects on Yamuna Expressway and look forward to launching said, “Airports play a pivotal role in driving growth in every real
many new projects that will contribute to the growth and prosperity estate location, and similarly, Noida International Airport is here to
of this vibrant area.’ bring about a transformative change and it also brings us closer to
Emphasizing the airport’s potential impact, Sumit Gupta, our Indian homebuyers. Living at a location with an international
Managing Director, Alstone Manufacturing Pvt. Limited said, airport in close vicinity is a lifestyle choice that offers convenience
“The upcoming opening of the Noida International Airport is and accessibility to global property hubs. Danube looks forward
poised to be a significant catalyst for the region, not only boosting to every opportunity emerging in India and its properties back
the real estate sector but also providing a substantial uplift to in Dubai. Especially with our 1 percent payment plan, we want
allied industries. As airports continue to be developed across more and more Indians to leverage the opportunity and own their
India, we anticipate a corresponding surge in demand for real choicest property of their own in our new project Diamondz rather
estate and allied industries. This synergistic growth presents a than living in rented accommodations.”
compelling opportunity for investors and businesses looking to Meanwhile, several early real estate projects on Yamuna
capitalize on India’s expanding aviation infrastructure. Drawing Expressway are experiencing substantial price appreciation,
from our experience, such as our successful cladding projects at marking the highest rise in NCR. As the countdown to the airport’s
the airports across Ayodhya, Gwalior, Shivmooga, Ahmedabad, opening continues, the Yamuna Expressway real estate market is
and Adampur where we utilized Alstone cladding, we are well- expected to remain bullish. Meanwhile, those looking to invest in the
positioned to seize similar opportunities and continue contributing region are advised to act swiftly to secure their investments before
to the entire industrial landscape of the country.” property rates escalate further and reach an unaffordable limit.
While highlighting the current affordability of properties, Arjunpreet
Singh Sahni, Executive Director, Solitaire Group said, “With UTTAR PRADESH GOVERNMENT EXPANDS INDUSTRIAL
the airport expected to boost economic activity and the fast- LAND BANK TO 25,000 ACRES
track connectivity putting Yamuna Expressway region on the As Uttar Pradesh sets its sights on becoming a trillion-dollar
international roadmap, it’s time for early investors to reap rich economy by 2027, the state government has established a
rewards. Our Solitairian City project at this location has seen comprehensive industrial land bank of 25,000 acres, facilitating
significant appreciation in property rates. However, end-users can swift allocation to industries. The Uttar Pradesh State Industrial
take advantage of the current affordability of properties at this Development Authority (UPSIDA) has acquired land across all 75
location, as they may not find similar affordable prices once the districts to support this initiative. Recently, UPSIDA allocated 1,470
momentum picks up.” acres in the Lalitpur district for the development of a bulk drug park,
Gautam Kanodia, Co-founder of Kanodia Group, emphasized positioning Uttar Pradesh as a significant hub for pharmaceuticals,
the transformation in the Yamuna Expressway real estate market, generic medicines, and medical devices in South Asia. UPSIDA
stating, “Noida International Airport is catalyzing a notable Chief Executive Officer Mayur Maheshwari indicated that land
transformation in the Yamuna Expressway real estate market. Its acquisitions have also been made in Hathras, Hardoi, Prayagraj,
opening will be a pivotal development that will underscore the Lucknow, Pratapgarh, Rae Bareli, Barabanki, and Chitrakoot.
region’s burgeoning potential as a premier investment hub. At To further expand the land bank, UPSIDA is conducting audits
Kanodia Group, we are steadfast in our commitment to crafting and exploring untapped areas. In 2019-20, UPSIDA introduced
living and work spaces that harmonize with contemporary e-auction of plots for greater transparency, resulting in a surge in
aspirations and lifestyles. Our projects epitomize our unwavering plot allotments, from 191 plots in 2017-18 to 693 plots in 2023-24.
dedication to excellence and innovation, providing unparalleled The agency’s operating revenue also doubled, from `615 crore
experiences for our discerning clientele.” in 2018-19 to `1,359 crore in 2023-24. UPSIDA has also launched
Meanwhile, this development opens up prospects for the growth women-centric facilities through the Atal Industrial Infrastructure
of all stakeholders in the real estate sector, as the allure of both Mission (AIIM) and Safe Industrial Area Projects to increase female
residential and commercial properties in the region is set to draw in participation and employment in industrial parks.

26 CONSTRUCTION OPPORTUNITIES|APRIL 2024