Two prominent developers have acquired significant land parcel near Jewar Airport by purchasing through auctions by the Yamuna Expressway Industrial Development Authority (YEIDA). Both land parcels are designated for group housing projects, with plans for constructing high rises on the acquired properties.
According to recent reports, Eldeco Group has purchased a 20,000-square-meter plot adjacent to the upcoming airport for Rs 96.86 crore. This strategic move aims to capitalize on the region’s anticipated growth with plans to develop high-rise group housing.
“We see great potential in this location due to its proximity to major infrastructure projects,” reports quoted Eldeco spokesperson as saying
In addition to the Jewar acquisition, Eldeco has also acquired substantial plots in other key locations. This includes a 2.7-acre parcel in Gurgaon’s Sector 80 for Rs 110 crore and an 8.5-acre plot in the same area for Rs 165 crore. These acquisitions are part of Eldeco’s strategy to diversify its residential portfolio across high-demand regions.
Eldeco recently secured Rs 350 crore from HDFC Capital Advisors Limited to support its expansion plans. This marks the third round of financing in three years, bringing Eldeco’s total platform corpus to Rs 850 crore. The funds will reportedly be used for a pipeline of 17 projects valued at approximately Rs 8,000 crore in Delhi, Gurugram, Ludhiana, Sonipat, and Goa.
Eldeco said to have strategic projects planned in Delhi, Gurugram, Ludhiana, Sonipat, and Goa, along with residential projects in Panipat, Sonipat, Ludhiana, Rudrapur, Rishikesh, Kasauli, Greater Noida (West), and Gurugram.
In a similar move, Purvanchal Projects has recently acquired a 40,000-square-meter land parcel near Jewar Airport for Rs 149.47 crore. The developer plans to develop high-rise residential complexes, capitalizing on the area’s growing infrastructure and demand for quality housing.
“Purvanchal is committed to expanding its presence in key growth markets and meeting the evolving needs of urban homebuyers,” said a representative of Purvanchal Projects.
Jewar Airport region
With robust infrastructure developments and improved connectivity, the region near Jewar Airport is poised for significant growth. The acquisitions by Eldeco and Purvanchal are expected to further boost the market, bringing new opportunities for homebuyers seeking modern, well-connected living spaces.
Additionally, the recent land acquisitions by Eldeco Infrastructure and Properties Ltd. and Purvanchal Projects also underscore their strategic vision to capitalize on emerging growth corridors near Jewar Airport. These developments highlight their commitment to innovation and excellence in real estate, paving the way for transformative residential projects in Noida’s expanding landscape.