Government Launches Real Estate Development Near Airports for Economic Growth

The Civil Aviation Minister, Ram Mohan Naidu, announced that the government plans to boost real estate activities near upcoming and newly developed airports. The aim is to drive sectoral growth to 15% in the near future. This initiative focuses on maximising the economic potential of airport surroundings, ensuring that they become hubs of diverse development.

Speaking on the second day of the National Real Estate Development Council’s (NAREDCO) 17th National Convention, the Minister revealed that a study is being conducted to draw inspiration from leading global airports. Examples from New York, London, and Hong Kong are being analysed to create similar large-scale economic zones around India’s greenfield airports.

Naidu highlighted that airports in these global cities operate on a massive scale, supporting multiple related activities. Real estate growth around these hubs plays a major role in sustaining economic activity. India aims to replicate this model, enhancing infrastructure and services in the vicinity of airports.

The Minister noted that airports attract high footfall, not just for travel but for recreation and business activities. Plans include the development of convention centres, hotels, and commercial spaces near airports, encouraging investment and creating job opportunities.

Currently, India has 88 operational airports, with several more under development. These upcoming hubs are expected to serve as catalysts for both regional and national economic growth. Strategic planning will ensure that they become long-term assets for the country’s infrastructure landscape.

Niranjan Hiranandani, Chairman of NAREDCO, stressed that the real estate industry must align its growth with national priorities. He urged the sector to step up and meet the country’s evolving development needs, ensuring sustainable and impactful outcomes.