A NITI Aayog task force is assessing a 2028 Formula 1 comeback at Buddh International Circuit, with real estate experts pointing to the corridor's 2011 price run-up as a sign of what a revival could do again.
The government has constituted a task force under NITI Aayog to examine reviving Formula 1 and developing India's broader motorsports ecosystem, chaired by Yugal Kishore Joshi, the Aayog's Programme Director. The 10-member panel includes joint secretaries from the sports, commerce and tourism ministries, representatives from Uttar Pradesh and Maharashtra, and officials from Buddh International Circuit (BIC) and the Madras International Circuit.
Sports Minister Mansukh Mandaviya said the goal is a coordinated roadmap that could support hosting a race by 2028, with the panel examining taxation hurdles, infrastructure needs, and public-private partnership models for the sector.
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The corridor has been here before. Property prices along the Yamuna Expressway rose roughly 50% over two and a half years starting in the first quarter of 2011, climbing from around Rs 2,077 per sq ft to Rs 3,132 per sq ft by July-August that year, well before the expressway itself or Noida International Airport became operational. Hospitality felt it too: Jaypee Golf Spa and Resort, which hosted F1 drivers and VIP guests during the 2011 race, typically charged around Rs 11,000 per person per day, a rate that reportedly spiked to Rs 37,000 as hotel rooms ran scarce during race season.
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The Indian Grand Prix ran at BIC from 2011 to 2013, with Sebastian Vettel winning all three editions, before taxation and regulatory disputes ended the run; a 2023 MotoGP round at the same circuit also hasn't returned since.
This time, Adani Group is reported to be taking over the company that owns BIC, giving the circuit's prospective new owner a direct stake in the task force's outcome alongside the government bodies involved.
Cushman & Wakefield's Supriya Chatterjee said a revival could strengthen the region's positioning by complementing infrastructure and economic drivers already in motion, and pointed to a bigger opportunity in developing BIC into a year-round hub for motorsport, automotive and EV testing, and MICE events beyond race weekends alone.
Gaurs Group CMD Manoj Gaur, speaking to Hindustan Times Real Estate, called Formula 1 a global platform only a handful of countries can host, and said its return could give a further boost to an already buoyant Yamuna Expressway market.
