Noida Airport, the much-anticipated aviation hub in Uttar Pradesh, is set to redefine the air travel landscape. The Uttar Pradesh government’s recent move to reduce the Value Added Tax (VAT) on airplane fuel to a mere one percent has paved the way for cost-effective travel experiences from Noida Airport. With passenger services slated to commence in October and construction progressing swiftly, here’s what you need to know about this exciting development:
More Affordable Air Travel
With the revised VAT on airplane fuel, airfares from Noida Airport are poised to be considerably cheaper than those departing from Delhi. As an illustration, a typical air ticket from Delhi to Lucknow currently costs around Rs 3500, but the same journey from Noida Airport is projected to be just Rs 2800. This reduction amounts to a significant 10 to 15 percent decrease in ticket prices.
Noida International Airport in the Spotlight
The construction of Noida International Airport, situated in Jewar, is set to reach completion by February of the coming year. Passenger services will kick off this October, with an exciting prospect for travelers looking for more budget-friendly options.
VAT Disparity
The key factor contributing to this substantial pricing difference lies in the Value Added Tax (VAT) on fuel. While Delhi imposes a hefty 25 percent VAT on airplane fuel, the Uttar Pradesh government has significantly cut it down to just one percent. This substantial VAT gap directly influences the cost of air tickets.
Prospects for the Future
The airport is projected to generate an annual income of an impressive Rs 1.4 lakh crore after six years of operation. Under this revenue, the Yamuna Authority is slated to receive 12.5 percent. This significant income potential has spurred the Uttar Pradesh government to take proactive measures to boost passenger numbers and capitalize on the aviation sector’s potential.
Optimizing Travel Costs
Travelers can anticipate lower airfares from Noida Airport as the distance covered increases. This favorable pricing model is expected to have a direct impact on passenger numbers. The income generated will be distributed among airport shareholders, with the construction company expected to recover its investment after six years.
Unlock Investment Opportunities with Letsdigg
For savvy investors seeking prime opportunities in the flourishing real estate market of Noida, Letsdigg stands as a trusted partner. Our expert team specializes in connecting investors with the most lucrative Commercial and Residential projects in the region. With Noida Airport set to transform the landscape, our tailored solutions and in-depth market knowledge ensure that you make well-informed investment decisions. Whether you’re looking for a high-yield commercial venture or a dream residential property, Letsdigg is here to guide you toward the most promising prospects in Noida’s vibrant real estate sector
Wrapping it Up
Noida Airport’s reduced VAT on fuel is set to make air travel more affordable and accessible, offering a cost-effective alternative to Delhi. The ambitious project is on track to become a major player in the aviation sector, with significant income projections and benefits for travelers and stakeholders alike. As passenger services launch in October, travelers can look forward to a new era of budget-friendly air travel.