India plans 50 new airports in 5 yrs, will boost real estate sector: Naidu
India aims to have 50 more airports in the next five years which will also create huge opportunities for the country's real estate sector, Civil Aviation Minister K Rammohan Naidu said on Friday.
Noting that airports are the "scaffolding" for the real estate sector, the minister also said that he is working actively to address issues related to height restrictions for buildings near airports without compromising on aviation safety.
India is one of the world's fastest growing civil aviation markets and currently, there are 165 operational airports in the country.
On an average, a new airport or a new terminal is built every 33 days, Naidu said.
He was speaking at the National Urban and Real Estate Development Conclave 2026 organised by real estate industry body Naredco in the national capital.
Highlighting the growth potential of the country's real estate sector, he said the segment is projected to be worth USD 1 trillion by 2030 and further increase to be valued at USD 5-7 trillio