Real Estate In Jaipur

The state of Rajasthan has a notable position on the tourist map of India. And Jaipur being the capital city enjoys all the more attention. Jaipur is closely situated to the National Capital Region, Delhi that gives the city real estate an upper edge. The IT wave in Jaipur is termed by the industry experts as the breakthrough for Jaipur real estate . Being strategically located at 3-4 hrs drive from Delhi on Delhi-Mumbai Highway, Jaipur has a well laid out transport network which offers connectivity via all means of transportation, and the upcoming metro link would be an added benefit.

The Delhi-Jaipur Highway offers speedy transport towards Jaipur and gives a clear picture of planned developmental projects in the real estate business.
Real estate biggies like Parsvnath Builders, Vatika Housing, Ansals and others have various office complexes and residential housing projects which are rapidly coming up in and around Jaipur.
The big names in residential realty development in Jaipur include Omaxe Limited, Vatika, Panchsheel Developers and Prasvnath. These developers have come up with the concept of group housing apartments in the pink city, integrated townships, row houses and villas in line with ancient havelis.

While property prices of big cities of Delhi, Gurgaon and Noida float at unprecedented levels, the tourist attraction of Jaipur has been the stimulator for real estate developers and investors for investing in the city. Especially, the commercial real estate segment is quite upbeat here from the last one year and a number of business conglomerates are making a beeline to set up their offices in the city.

In fact, some of the largest corporate houses have already entered the pink city, Jaipur, with their ambitious projects. Some time back, international steel baron, Mr. LN Mittal announced establishment of a technology institute in the city, spread over 100 acres. Healthcare majors like Apollo and Escorts have also shown interest in setting up their ultra-modern facilities here.

What are the Growth drivers?

The biggest advantage reason to invest in the pink city is the price. Undoubting, the prices and rentals of commercial or residential properties in Jaipur are far less in comparison with the cities like Delhi, Bangalore and Mumbai.

Also, it boasts of an excellent connectivity via all the modes of roads, railways and air, and is well-connected with nearly all the major cities of India.

Besides the above factor, the availability of land is not a major issue in Jaipur, and unlike the big cities, here a firm can acquire huge chunks of land in the prime locations to build their offices. Considering these reasons, it makes an interesting business proposition for big and small enterprises to operate from this city.
Commercial developments in the city
As many big IT projects have come up in the city, Jaipur has emerged as a major IT destination. Several Indian and international MNCs are setting up their feet in the city. Many prestigious projects including, Mahindra's 3,000 Acre SEZ, Anil Ambani's Mega City Development Plans and Hero Honda's Rs 700 crore plant will benchmark the growth of city’s commercial development.
Besides these projects, companies like Infosys, Cisco, Wipro, HCL, IBM, Daksh, Hinduja TMT etc are also exploring business opportunities in Jaipur. Then, there is Knowledge Corridor, Sports City at Achrol and several hospitality projects including five star hotels by the likes of Taj, Hyatt, Radisson, and Hilton which are soon to be developed.
Residential development in the city
As corporate demand would automatically create demand for quality residential properties and infrastructure to support future development, Jaipur will soon have such projects both by local as well as metropolitan city-based real estate developers like Narayan group, Narvik Nirman, Omaxe, Suncity, Unique group, DLF, MGF, Vatika, Ansals, Parsvnath, etc.
Recently, Fishman Holdings' Indian real estate development subsidiary, Mondon Investments Ltd., purchased a 600-acre plot in Jaipur for $108 million for developing a four million square meter integrated township which will include residential units, commercial space, offices, and high-tech space with an investment of $2 billion.
What are the Future Prospects?
As per media reports, Jaipur is among fastest growing Tier II cities in India. Jaipur Development Authority (JDA) has been able to collect revenue of more than Rs 1,000 crores during the financial year 2005-06. Also, the rise in Jaipur Real Estate is estimated to be around 10 to 15 per cent per year.

Sukhpreet Kaur writes on behalf of 99acres.com,which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information. At 99 acres, you can advertise a property, search for a property, browse through Jaipur Real Estate and Properties.