Gul Panag on Noida International Airport, Infrastructure, and the Future of NCR Real Estate
“Every time I look up, I see possibility and aspiration.” — Gul Panag
The commencement of the first commercial flight from Noida International Airport marks a defining moment for India’s aviation and infrastructure landscape. Positioned to become the country’s largest airport and one of Asia’s biggest cargo hubs, the project is expected to transform not only western Uttar Pradesh but also the entire National Capital Region’s economic and real estate ecosystem.
On this historic occasion, RealtyNMore spoke exclusively with actor, entrepreneur, investor, and licensed private pilot Gul Panag, who was among the distinguished guests on the inaugural commercial flight. Drawing from her experience as a pilot, investor, and public figure, Gul Panag shared her perspective on aviation infrastructure, Noida’s growth story, real estate investment, and the importance of transparent governance.
RealtyNMore: You are a licensed pilot yourself. As someone who understands aviation infrastructure closely, how do you see the commencement of the first commercial flight from Noida International Airport changing the region’s infrastructure and overall development?
Gul Panag:
I’m actually a licensed private pilot, not a commercial pilot.
As a pilot, every time I look up, I see possibility and aspiration. Being part of the historic first commercial flight to land at Noida International Airport is a phenomenal opportunity because we are witnessing the birth of something truly transformational.
This airport has the potential to unlock opportunities not only for western Uttar Pradesh and Delhi-NCR but for the entire country. It is going to become the largest airport in India and one of the largest cargo hubs in Asia because of the scale at which it has been developed.
For me, this project represents much more than an airport. It represents aspiration. It tells people that world-class infrastructure can exist right here. It sends a strong message that development is no longer confined to traditional metropolitan centres.
When people see infrastructure of this scale in their own region, they begin to believe in bigger possibilities for themselves, for businesses, and for future generations. This is not merely an airport with a runway—it’s an infrastructure project built on a scale that will redefine India’s growth story.
RealtyNMore: While the airport has become operational, all six planned runways will take time to become functional. Does that mean the region’s growth will also take much longer?
Gul Panag:
Not necessarily. From what I understand, two runways are currently operational, while the remaining runways will become functional in phases based on passenger traffic milestones. As passenger numbers increase, additional runways will be activated.
Considering the sheer scale of this project, I believe the development timeline has actually been remarkably fast. From the announcement of the airport to its commercial launch, the progress has been impressive.
Similarly, I don’t think the expansion towards full capacity will take as long as many people expect. Once passenger movement begins increasing steadily, the next phases of expansion are likely to move much faster. The foundation has already been created. Now it’s about scaling operations alongside demand.
RealtyNMore: Apart from being a pilot, you’re also an investor. Roughly how much of your investment portfolio is allocated to real estate?
Gul Panag:
Approximately one-third of my investment portfolio is invested in real estate.
RealtyNMore: When you invest in real estate, what are the key factors you evaluate before making a decision?
Gul Panag:
Connectivity is perhaps the most important factor.
I own properties in Noida, Gurugram, and Delhi, but I’m particularly bullish on Noida because it has all the ingredients required to become a truly global development hub.
The city enjoys exceptional connectivity through the Dedicated Freight Corridor, Metro network, and an expanding expressway ecosystem. Today, Noida is being connected seamlessly to destinations such as Haridwar, Mathura, Varanasi, Lucknow, Dehradun and even Mumbai through various infrastructure projects.
And now, with the addition of Noida International Airport, another major piece of the puzzle has fallen into place. For the first time, I believe Noida possesses every essential ingredient needed to emerge as a world-class urban centre. If you look at cities like Dubai four decades ago or Hong Kong several decades earlier, they grew because infrastructure created opportunities.
I genuinely believe Noida has the potential to follow a similar trajectory. That’s precisely why I remain extremely optimistic about the city’s future and continue to see it as one of India’s most promising real estate destinations.
RealtyNMore: You have studied Political Science and have also contested elections. Having experienced both governance and public life, what do you think are the biggest challenges in executing large public-private partnership (PPP) infrastructure projects like airports?
Gul Panag:
The biggest challenge, in my opinion, is transparency.
Whenever public and private sectors come together for projects of this scale, pardarshita (transparency) becomes absolutely essential. It’s not enough for the process to be transparent—it must also be seen as transparent by the public.
There’s a saying that justice should not only be done, but should also be seen to be done. The same principle applies to governance and infrastructure development. When people can clearly see that policies, approvals, and implementation are transparent, it builds confidence in institutions and strengthens trust in the government’s development agenda.
Transparency ultimately creates credibility, and credibility encourages long-term investment.
RealtyNMore: Besides transparency, are there any other areas that you believe require equal attention as India builds world-class infrastructure?
Gul Panag:
Absolutely. India has made tremendous progress in creating what I call the hardware—expressways, airports, highways, metro systems and other physical infrastructure. But now we need to pay equal attention to the software.
By software, I mean everything that makes infrastructure truly usable and safe for people. For example, we still see pedestrians risking their lives while crossing major roads like the Noida-Greater Noida Expressway because adequate pedestrian crossings are missing.
Infrastructure should work equally well for senior citizens, children, pedestrians and differently-abled individuals.
Road safety also deserves far greater attention. We have world-class highways with speed limits of 100 kmph, but at times vehicles travel on the wrong side of the road, creating dangerous situations.
Building highways is an incredible achievement, but ensuring responsible road behaviour, better enforcement, safer pedestrian infrastructure and public awareness is equally important. That’s where I believe India needs to focus next. The hardware has improved tremendously. Now the software needs to catch up.
RealtyNMore: So, according to you, infrastructure development isn’t complete unless both physical assets and civic systems evolve together?
Gul Panag:
Exactly. Infrastructure isn’t just about constructing airports or expressways. It’s about creating an ecosystem where people can use these facilities safely, efficiently and comfortably.
When infrastructure is supported by better planning, better civic behaviour, proper pedestrian facilities and stronger implementation, that’s when development truly becomes meaningful. India has already demonstrated that it can build infrastructure at a global scale.
The next step is ensuring that our systems, governance and public behaviour evolve alongside it.
Only then can we fully realise the benefits of these world-class projects.
RealtyNMore: You wear many hats—you are an actor, producer, entrepreneur, fitness enthusiast, social worker, investor, and also someone who has actively participated in public life. Which of these roles gives you the greatest emotional satisfaction?
Gul Panag:
I believe human beings are fundamentally multidimensional.
As society has evolved, we’ve somehow conditioned ourselves to believe that a person must choose only one identity or one profession. I don’t agree with that.
Human beings have the ability to excel in different fields at different stages of life. We shouldn’t limit ourselves to just one definition of who we are.
For me, satisfaction comes from being fully present in whatever I am doing at that particular moment. Whether I’m acting, flying, investing, working on social initiatives, producing content or participating in public conversations, I give that activity my complete attention.
And when I do that, it becomes the most fulfilling thing in that moment.
Right now, for example, having this conversation with you is giving me tremendous emotional satisfaction because this is where my focus is.
I genuinely believe that whatever you’re doing with complete involvement becomes the most meaningful experience at that point in time.
RealtyNMore: Finally, what message would you like to give to people who are watching the growth of Noida and the emergence of Noida International Airport?
Gul Panag:
I think this is a defining moment—not just for Noida, but for India’s infrastructure journey.
Projects like Noida International Airport demonstrate what’s possible when vision, planning and execution come together.
For investors, entrepreneurs, businesses and young professionals, this region offers tremendous opportunities. Infrastructure creates economic activity, employment, investment and better quality of life.
What excites me most is not just the airport itself, but everything it will enable in the years ahead.
We’re witnessing the beginning of a completely new growth story, and I believe Noida has all the ingredients to emerge as one of India’s most significant global urban centres.
As someone who has invested here and closely followed its development, I remain extremely optimistic about what lies ahead.
