Civil Aviation Minister Ram Mohan Naidu has announced plans to amplify real estate activities near upcoming airports in India, aiming to achieve 15% sectoral growth. The government will draw inspiration from leading airports worldwide, such as those in New York, London, and Hong Kong, to develop large-scale economic activities around new airports.
“The Government intends to encourage the creation of convention centers and hotels close to such airports for multiple economic gains,” Naidu said. Airports generate significant footfall, not only for recreation but also for diverse economic activities. The government has already operationalized 88 airports, with many more in the pipeline.
Niranjan Hiranandani, Chairman of NAREDCO, emphasized that the growth of the real estate sector must align with national requirements, and the industry must rise to deliver on those expectations.
Image Courtesy: The New Indian Express
