Civil Aviation Minister Ashok Gajapathi Raju said at a press briefing here today that "in-principle clearance has been granted" for the airport.
The Yamuna Expressway Industrial Development Authority has notified 3,000 hectares of land for a world-class international airport, Mr Raju added.
"Noida International Airport will cater to 30-50 million passengers per year over the next 10-15 years," Raju tweeted.
The airport will help reduce congestion at the Delhi international airport.
"In Delhi, we are expecting 91 million passengers by 2020 and 109 million passengers by 2024," Mr Raju told reporters.