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India is a booming economy with a thriving real estate industry, and there is a surge in the development of new airports to meet the requirements of the rising population and tourism. The upcoming new airports in India are revolutionising air travel and reshaping the real estate landscape in their vicinity.
Introduced in 2016 by the Central Government, the development of new airports in India is under the Ude Desh ka Aam Naagrik (UDAN) scheme. It aims to provide affordable air travel to the common man and connect Tier 2 and Tier 3 cities with metropolitan cities. According to the plan, a flight will cost Rs 2,500 for an hour on a fixed-wing aircraft or Rs 30,000 for a helicopter ride lasting 30 minutes and travelling about 500 km.
This initiative provides air service on more than 359 flights, with 59 airports, 5 heliports, and 2 aerodromes. Since its implementation, there have been 141 operating airports, up from 74. Economic growth and real estate development are predicted to increase dramatically in the areas near these developments.
Below is a list of new airports in India that are all set to bring economic opportunities and growth.
The Prime Minister of India, Shri Narendra Singh Modi, inaugurated the Shivamogga Airport on February 27, 2023. The lotus-shaped Shivamogga Airport, the new airport in Karnataka, is now open to the public and was built at a cost of INR 450 crore. It is located at a distance of 12.3 km from Shivamogga in Sogane.
The Passenger Terminal Building is expected to handle an average of 300 passengers per hour.
The Jewar Airport is planned to be the biggest airport in India at an estimated cost of INR 29,650 Cr. Located in Uttar Pradesh, the airport is being built near Gautam Buddha Nagar District and is expected to serve as an alternative to IGI Airport in Delhi. As per the reports, this new airport is being developed via a public-private partnership by the government of Uttar Pradesh.
Furthermore, the latest airport in India is expected to have six runways and can accommodate more than eleven million travellers each year.
Also Read: The Importance of Jewar Airport
Another new airport is the Orvakal Airport, situated in Orvakal, around 18 km from Kurnool, Andhra Pradesh. The official name of this new airport in India is Uyyalawada Narasimha Reddy Airport. The cost involved in constructing this domestic airport is approximately INR 153 crore. Orvakal Airport is yet to receive its commercial licence.
Once this new airport becomes operational, the tourism and real estate sectors of Kurnool, Srisailam, and Nandyal will achieve a new level of growth.
The famous new airport in India is the Mopa Airport in Pernem taluka, in the North Goa district. GMR Group developed the airport, and the cost involved in building it is around INR 3000 Crore. The first phase of this new airport in Goa was inaugurated in December 2022 and can cater to 44 lakh passengers. Whereas once the project is completed, the entire four phases will have the ability to hold 1 million passengers annually.
Also Read: Explore Facilities & Services of Dabolim & Mopa Airports
Another one of the under-construction airports in India is the Purandar Airport, located in Pune. The official name of this new airport is Chhatrapati Sambhaji Raje International Airport. The approximate cost of this project is INR 6,000 crore, and it is set to begin operation by February 2024.
D.B. Patil International Airport is another new airport in India. Located in Navi Mumbai, it is an international airport, and it is expected that its construction work will be finished by 2023. This new airport is expected to handle 90 million passengers annually.
Sharing the load of Chhatrapati Shivaji International Airport in Mumbai, it will serve as the secondary airport in Mumbai. The cost involved in building the new airport is around INR 16700 crore.
Another one of the upcoming airports in India is the Dhalbhumgarh Airport, situated in Jharkhand. As per the reports, the Dhalbhumgarh Airport will have two separate phases. The abandoned WWII airfield where the airport would be built will be about 60 kilometres from Jamshedpur and was suggested as part of the UDAN programme.
Also Read: 5 Smallest Airports in India With The Shortest Runways
Rajkot International Airport is one of the upcoming airports in India. It is currently being developed in Hirasar, near National Highway 8B. The single runaway will handle A320 flights and is expected to become operational by 2023. The Airports Authority of India is constructing the Rajkot International Airport, which will be built in four phases.
This new airport in India is part of the UDAN regional connectivity scheme. The Rewa Airport is expected to be operational by 2023. The Madhya Pradesh government has allocated INR 50 crore for this new airport project.
In the initial phase, the Rewa Airport will link Rewa with Bhopal, Indore, New Delhi, and Mumbai
The Tamil Nadu Industrial Development Corporation Limited and the Airports Authority of India are assigned to construct this new airport at a cost of INR 1500 Crore. The airport is expected to have two runways, enabling several aircraft to take off and land simultaneously.
Furthermore, it will have two passenger terminals with fantastic amenities and offer comfortable air travel that will meet the needs of passengers. The new airport's primary aim is to lower the congestion burden at the existing Chennai airport.
Also Read: Top 10 Busiest Airports in India: India’s Aviation Guide
The nation's economy is soaring because of India's new airports, which greatly impact the real estate market. The symbiotic relationship between new airports and the real estate market will continue to blossom as India invests in its aviation infrastructure, providing investors with attractive chances for growth and success.
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