Jewar Airport or Noida Greenfield International Airport, spread over 5,000 hectares at a cost of Rs 35,000 crore, will help the region develop as a warehousing hub and push India to increase its logistics infrastructure sector, Knight Frank India said in a statement.
The company says Jewar Airport will free up immense land for the manufacturing and warehousing sectors, as air connectivity is essential for logistics activities.
“For the warehousing industry, a good transportation network is paramount to ensuring that businesses remain profitable due to efficiency. Most investors and owners are looking for land with clear titles ranging from $ 10 to $ 15 million. of INR per acre. a fair price will ensure rapid adoption, ”said Balbirsingh Khalsa, Executive Director (Industrial and Logistics) at Knight Frank India
Category A warehouses represent 30%, category B represents 70% of the total stock of the NCR and only 15.8% are vacant in the market of the NCR. About 75-80% of these warehouses are located in and around NH – 8 in Gurgaon.
The company says the challenge facing the market is the availability of high quality warehousing centers as the demand for Class A properties is steadily increasing.
A warehouse and logistics center is provided in Tappal Bajna, 7 km from the new Jewar International Airport.
Jewar Airport can open 2,000 to 3,000 acres available for manufacturing and warehousing and will lead to over 50 million square feet of development.
“The biggest challenge will be land prices. Due to speculation, prices have already started to climb and are not commercially meaningful. The second major challenge will be the real time needed to create the right ecosystem for the warehousing sector to see the demand in the region, ”adds Balbirsingh Khalsa.