Monday 26 January 2015

Jaipur, The Bright Star of Real Estate Development

Jaipur real estate is the hottest property destination these days. Nonetheless, it should be as it has been an important city since ancient times. Jaipur has excellent architecture and hence is a great tourist destination. It also forms part of the Golden Triangle formed by Delhi, Agra and Jaipur. The proximity to Delhi/NCR also contributes to the flow of people to Jaipur. The city has great connectivity as it lies on the Delhi-Mumbai freight corridor (NH-8), which is the busiest highway as it connects the national capital to the financial capital of India.

For the past few years, Jaipur is seen not only as a popular tourist destination, but also as a good property investment. Many builders have expressed their interest in real estate in Jaipur and have come up with projects. Big names in the real estate world like Ansals, Parsavnath, Omaxe, Emaar MGF and Mahima Group have plans to create integrated cities in Jaipur. Other types of property like plots, flats, floors too are available due to the upcoming new residential projects in Jaipur Investing in Jaipur has a lot of benefits and one of them is the easy availability and reasonable rates at which property can be bought. As real estate is a comparatively new sector to rise here, it has fewer investors and this highly contributes to the affordability. Many industries are being set up here and this will create a demand for housing. Another factor is the high rentals and good returns due to the increase in employability that has been created due to the shifting of big corporations like HCL, Converges, Mahindra, Coca-Cola, Wipro and Infosys to Jaipur.

The biggest contributor to the popularity of this region is attributed due to the Metro that is already functioning here and will be developed to more routes which will connect Jaipur. Two routes which will run on the east-west and north-south corridors are under construction. Thus development and property prices along these routes will soar high in a few years. Among such factors are improving infrastructure, education hub, secure environment, high rentals, business activity, tourist spot, affordable rates and connectivity.

A good news, that real estate agents have observed, is the return of the residents who previously had moved to cities like Delhi/NCR, Kolkata, Guwahati etc. to find better opportunities. Investors also include residents of neighbouring cities, businessmen, government officials, employees of IT companies and big investors from Delhi and NCR who come looking for cheaper property rates. Such trends point towards the increase in real estate sector. Jaipur is enjoying prosperous returns and an increase in property rates. So this is the time to invest in Jaipur as it is a lucrative offer for both investors and builders.

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