The commencement of the Jewar International Airport has remolded the real state landscape of its surrounding regions. Apart from captivating commercial investments across Noida and Greater Noida, this progression has led developers to launch numerous new real estate projects in order to engage with the escalating housing demand. Considering the quickly commercializing and developing surroundings, the individuals currently living on rent have also started looking for their own abode in Noida and Greater Noida. The various new changes in the policies like the reduced GST rate and tax reliefs for unsold inventories have given a new life in the projects which were getting delayed.
Decoding the reason behind the young generating opting for purchasing their own home instead of living on rent, the CMD of Antriksh India Group, Santosh Yadav said that the younger generation foreseeing the effect of Jewar Airport have realized that the coming times are going to witness a massive upsurge in demand for homes and hence the increase in the price as well. In the current times, the prices are still low so they are grabbing this golden opportunity to acquire their own home at relatively lower prices. In the last few months, the central government has provided major reliefs on taxes and home loans under different schemes which have enabled the individuals living on rent to go for their own home, Yadav went on to add. In the ongoing scenario, the individuals seeking own homes will definitely get the best-offered prices, which are meant to go higher in the next few months due to the impacts of Jewar Airport progression, he concluded.
Elaborating more on the similar lines of Yadav, MD of Sikka Group, Harvinder Singh Sikka said that there are many factors like lifestyle, transportation, vicinity, and so forth that eventually goes behind buying a home. Besides that, buying a home also relies on the kind of investment needed and the in hand funds. The younger generation is ready for few adjustments needed for fund availability as the opportunity to have their own home is too big to let go. They have made their mind for those adjustments to secure a bright future, Sikka went on to add.
Keeping all the elements in consideration, it can be clearly validated that Jewar Airport is emerging as the definitive prospect for the massive transformation of commercial and residential development in Noida and Greater Noida.