Residential Searches Dip as Prices Rise Near Jewar Airport: Magicbricks

04 Feb 2025 CW Team

The recent budget announcement reinforcing the UDAN scheme and boosting regional connectivity, the government aims to enhance air travel accessibility and stimulate economic activity stimulate economic growth. Historically, advancements in airport infrastructure have fuelled real estate expansion, attracting new developments and driving investment in surrounding areas. In one such instance, Magicbricks has observed that property prices near Jewar Airport have nearly doubled over the past five years. However, the demand now appears to be waning.

Analysing data from key sectors around the airport, Magicbricks found asking prices in Zeta-Eta-Theta, sectors around Yamuna Expressway, and Omega-Chi-Phi areas increasing by 49 per cent, 53 per cent, and 28 per cent, respectively during October-December 2024.

The current price points in these areas are approaching parity with more established and accessible metros, which offer superior social and medical infrastructure. The average price in Zeta-Eta-Theta stands at Rs 7,858 per sq ft, while Yamuna Expressway is at Rs 7,218 per sq ft and Omega-Chi-Phi at Rs 9,706 per sq ft. Some areas, such as Jaypee Greens (Rs 12,434 per sq ft) and Alpha Beta Gamma Delta (Rs 10841 per sq ft), exhibit even higher average rates.

Furthermore, Magicbricks found a notable decrease in residential searches (demand). For instance, searches in Zeta-Eta-Theta, sectors around Yamuna Expressway, and Omega-Chi-Phi declined by 48 per cent Y-o-Y, 39 per cent Y-o-Y, and 37 per cent Y-o-Y, respectively in Q4 (October-December 2024). Despite the declining search interest, residential supply in these areas continues to surge. Listings in Omnicron-Mu-Xu have increased by 77 per cent Y-o-Y, while listings around Yamuna Expressway have seen a 53 per cent Y-o-Y increase.

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..