The Dholera International Airport is being built in Navagam, Gujarat, in two phases. According to a recent announcement, its construction will commence by January 2022. The airport is expected to provide a significant fillip to the hospitality, warehousing, and residential real estate segments in the region.
Out of the six nodes identified in Gujarat under the Delhi-Mumbai Industrial Corridor (DMIC), the Dholera Special Investment Region (Dholera SIR) is the first one to be developed. Dholera SIR is expected to be a global hub for economic activities due to its state-of-the-art civic, social, and digital infrastructure. It is also likely to provide a fillip to residential growth in surrounding areas.
To serve the cargo and logistics needs of the Dholera SIR, the State government has planned to construct an international airport in Navagam Village, Dholera. Dholera International Airport Company Limited (DIACL) will facilitate the development of the project. DIACL is a Joint Venture (JV) between the Airports Authority of India (AAI), Gujarat government, and the National Industrial Corridor Development and Implementation Trust (NICDIT).
The Dholera International Airport has received a fair share of national media coverage for years now. Many industry experts speculated that this ambitious project would only remain on paper and not materialise. However, on October 6, 2021, Sanjeev Kumar, Chairman, AAI, announced that the development work on the international airport would begin by January 2022.
Furthermore, the tendering process for Phase 1 of the airport has already been completed, and invitations are out for Phase 2. Besides handling the logistics needs of Dholera SIR, the airport will handle the spillover traffic of the existing Sardar Vallabhbhai Patel International Airport in Ahmedabad, which has achieved its total capacity and has no current plans for further expansion. The airport will also cater to the increasing traffic from nearby-situated cities, such as Rajkot, Vadodara, Nadiad, Anand, and Bhavnagar. The international airport at Dholera is likely to split its operating capacity in a 60:40 ratio for commercial passenger aviation and cargo operations.
Based on this announcement of the construction commencement date, we can finally say that the development of the Greenfield city of Dholera SIR will be expedited. The disclosure comes as a significant green signal from governmental authorities to investors, urging them to finalise their plans regarding Dholera SIR.
Moreover, the National Highways Authority of India (NHAI) is building the 109 km-long Ahmedabad-Dholera Expressway. The four-lane access-controlled expressway will connect Sardar Patel Ring Road near Sarkhej with Dholera SIR via the Dholera International Airport at Navagam. Together, the airport and the expressway will boost Dholera's connectivity quotient.
The airport will create a significant number of jobs in the region during the construction phase. Once operational, it will work to boost the hospitality and commercial real estate sectors. Also, as connectivity and social infrastructure improve in the region, residential demand is expected to rise significantly, leading to price hikes.
However, people must be mindful of their investments and only make informed decisions. For example, the Dholera city region will have 12 zones, which are to be completed in three phases. Investors should purchase real estate assets only within the designated zones. Purchasing land near the airport itself will not be fruitful for some time since it is located far away from the city.
