The Yamuna Expressway Industrial Development Authority (YEIDA) has approved a proposal ensuring that any construction within 20 kilometers of Noida International Airport will adhere strictly to regulations. According to the approved proposal, building construction within this zone will be restricted.
This means that no new buildings can be constructed in this area unless they comply with the Airport Authority of India (AAI) guidelines. Any building not following AAI's directives will not have its plans approved. YEIDA CEO RK Singh mentioned that the board decided to enforce AAI regulations to maintain clear flight paths near the airport.
Additionally, AAI released a color-coded zoning map that will be implemented after discussions. YEIDA also plans to appoint a specialized consultant to survey the entire 20-kilometer area.
With these restrictions, construction in this zone will be limited, potentially leading to reduced supply of new properties. Typically, when demand exceeds supply, property and land prices rise. Builders or individuals who have already developed properties in this zone will benefit as the value of their developments increases. Those with ongoing projects here will also find their properties becoming more desirable and can sell at higher prices.
Investors planning to buy land in this area may face challenges due to the new regulations. They will need to ensure compliance with AAI rules. Approval stages for project plans might be lengthier as each is checked against AAI guidelines. This could slow down the process for builders and investors, who may need to amend their plans accordingly, leading to possible project delays.
This decision acts as a double-edged sword for the real estate sector—benefitting current property owners while posing challenges for new investors and developers.
