City Profile Jaipur Real Estate On Rise
Pink city Jaipur has long been hailed as a travelers destination. Now the city is fast evolving into a prominent commercial zone for Rajasthan. Being the state capital Jaipur is the nervecentre for all social cultural and commercial activities in Rajasthan. These prospects boost the real estate developments in the city. Heres a look at the citys profile:
Commercial aspects
Jaipur’s proximity to Delhi is a boon to the city. Jaipur is now being considered as an alternative city just like Gurgaon Faridabad and Ghaziabad. Hence Jaipur is the first choice for those corporate houses that want to spread out of Delhi and want to explore Indias westzone.
Jaipur has positioned itself as a major IT destination. Global MNC GE International already has a campus in Jaipur. Beside this Infosys Cisco Wipro HCL IBM Daksh and Hinduja TMT are ready to set foot in the city.
Other business establishments that are interested in Jaipur include Hero Honda and Anil Ambani’s Reliance Retail. Mahindra has also occupied 3000 acre land bank to set up a SEZ near Jaipur. The city has an upcoming knowledge corridor where a series of educational and research institute would be set up. Another specialised zone called the Sports City is to be developed at Achrol near Jaipur. Now Mahindra has occupied 3000 acre land bank to set up a SEZ near Jaipur.
Residential real estate
Increasing commercial activities are driving Jaipurs residential real estate. The citys main residential areas like Malviya Nagar Bapu Nagar and Civil Lines have very high rentals rates. A 3bedroom house in these areas would cost between Rs 1500020000 per month. The capital value for plots varies between Rs 40000 65000 per sq yard. However the peripheral areas have affordable accommodation. Sunurban areas like Kalwar Road have plot capital value between Rs 3000 ndash; 7600 per sq yard.
Most of new development is happening in the areas where the IT companies have been set up. Private property developers are very active in Jaipur. Delhibased builders Ansals Vatika Omaxe Emaar MGF and Parsvnath have launched a slew of residential projects in and around the city. Many local developers like Narvik Nirman Narayan group are also developing residential apartments in the city.
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