IT'S been a 42-year wait but the decision to rezone Badgerys Creek land in Sydney's west would be like winning the lottery for Harry and Brigette Green.

The couple, in their 60s, bought their 11-acre property for $12,000 in 1970.

But with the land around what could be Sydney's second airport due to be rezoned from residential to industrial, the Greens said their home would be worth millions.

"It's been a waiting game for 40 years, this airport,'' Mr Green said.

That will make up for the $250,000 they lost when they sold their other Badgerys Creek property 20 years ago.

"Nobody wanted to buy in this area after everyone heard about the plans for the airport,'' he said.

The Daily Telegraph revealed yesterday the planning department was moving ahead with the controversial rezoning, which stands to make businessman Ron Medich and his developer brother Roy up to $400 million.

Planning Minister Brad Hazzard said he did not know who owned land and the decision was about getting western Sydney moving: "Rezoning for employment lands adjacent to the land reserved 20 years ago for a possible airport would work well for western and southwestern Sydney, irrespective of whether or not the federal government ever decides to proceed with the development of an airport.''

Chris Brown, an aviation capacity taskforce member, said the land could be rezoned industrial and still allow a second airport.

Originally published as Sitting on a gold mine