Reviving Noida airport project could ruffle Delhi's feathers

A junior minister normally does not interest the media much, but Mahesh Sharma stirred up a hornet's nest on assuming office as minister of state for civil aviation last month. Among his first statements as minister was one where he said he would try to revive the plan for a second international airport in Uttar Pradesh at Jewar in Greater Noida. The project was conceived more than a decade ago in 2001 but had been caught in the political crossfire of governments from three different parties. 

Sharma, a member of Parliament from Gautambuddh Nagar, said discussions will be held with Prime Minister Narendra Modi to finalise the proposal. He cited infrastructural constraints in the national capital region for the renewed interest in the initiative. "Strategically, Noida and Greater Noida have great industrial potential and, therefore, infrastructure would be needed. It would also generate jobs. Therefore, there is a need to develop an airport in this belt," he said. "The new airport project in Jewar is an important project. It has to be discussed in the wider interest of the nation. The airport is not a project of Mayawati or Mulayam Singh, but of India." The Jewar airport proposal was first mooted in 2001 by Rajnath Singh, who was then the chief minister. It was endorsed by his successor, Mayawati. However, the Akhilesh Yadav government withdrew the proposal citing a clause that bars the development of a second airport close to an existing one.

The development of the airport in Greater Noida would benefit real estate developers who have been hit hard by the economic slowdown. There has been little activity and sales have been slow over the past two years. With inventory running mile-high, developers have been focusing on clearing the backlog instead of launching new projects. Inventory levels across India have been rising over the past two years. While an ideal market maintains an inventory of eight months, the Mumbai Metropolitan Region had an inventory of 53 months at the end of June 2014, while the National Capital Region had an inventory of 45 months, data by research firm Liases Foras showed. Hyderabad had an inventory of 47 months, Pune 23 months and Chennai 26 months. Bangalore had the smallest inventory among the major cities of 19 months. Given this situation, infrastructure creation in the form of a new airport would help correct realty prices in the belt.

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