Parandur Airport Project Suspension Impacts Real Estate; Land Transactions Still Restricted

The temporary suspension of the Parandur Greenfield International Airport project has led to a significant slowdown in the local real estate market, with industry sources estimating a 30% decline in land values in and around the proposed project area.

Although land acquisition activities have been halted following the change in the state government, restrictions on buying and selling land across the 13 villages identified for the airport project remain in force, according to local residents.

The proposed airport, estimated to cost ₹27,400 crore, was planned across 5,746 acres in Kanchipuram district. Prior to the suspension, around 1,700 acres had already been acquired for the project.

Residents of villages such as Ekanapuram, who had protested the project for more than 1,400 days, have welcomed the halt in land acquisition. However, they are urging the government to officially cancel the project through a government order and remove all restrictions on land transactions.

The uncertainty surrounding the project`s future has also affected the property market. Land prices, which had surged after the airport announcement due to increased investor interest, have reportedly fallen by around 30%, while buyers remain cautious despite lower prices. Industry observers believe that if the project is officially cancelled, land values could decline even further.

The suspension has also raised questions about the future of several infrastructure projects linked to the proposed airport, including the Chennai–Bengaluru Expressway, planned road connectivity and the proposed Chennai Metro Rail extension to Kanchipuram via Parandur.

Residents have urged the government to continue these major infrastructure projects even if the airport proposal is eventually dropped, citing their importance for the long-term development of Kanchipuram district.