Residential Searches Dip as Prices Rise Near Jewar Airport: Magicbricks
Real Estate

Residential Searches Dip as Prices Rise Near Jewar Airport: Magicbricks

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.

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.

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?