The capital of Rajasthan, Jaipur, is considered to be one of the 10 mega cities of future India. This anticipation is not whimsical but based on some facts. The entry of various IT companies, solar energy units, and automobile manufacturing companies are making Jaipur the upcoming industrial hub. Real Estate in Jaipur is flourishing at a fast rate. The number of Real Estate Builders in Jaipur has also gone up. This growth can also be credited to the infrastructural developments and its proximity to Delhi. Let us have a closer look at these factors!
Commercial Developments Mahindra & Mahindra Co. has established a Special Economic Zone in the city. The entry of big shot companies like Infosys, Cisco, Wipro, HCL, IBM, Daksh, Hinduja TMT etc. is a major catalyst for growth in the Real Estate sector. Industry experts believe that IT sector is the biggest contributor of bringing Real Estate boom in Jaipur. Various hospitality projects from five star hotels like Taj, Hyatt, Radisson, and Hilton are also in the pipeline. The government of Rajasthan has also proposed the development of knowledge corridor and a sports city in Jaipur.
Infrastructure and Governance Jaipur falls on the National Express Way, the Golden Quadrilateral- a project that will provide much easier access to the city from all over India. Being a major tourist attraction is already linked by means of rail and air transport and has well-constructed intra-city roads as well. The law and order situation in Jaipur is remarkable. Metro rail is soon going to be on the map of Jaipur, which will drive the property rates significantly. A special project of Rs.1,530 crore will soon begin to make infrastructural developments in Jaipur and other important cities of Rajasthan.
Residential Property Market With the commercial and infrastructural developments on the roll, how could the residential properties be left behind? The coming of major companies implies that more residential areas are also required. The native urban population contributes to this demand too. Several Real Estate Builders in Jaipur are competing in the market. The city is not only characterized by the old monuments and museums but by a stark contrast of new and bygone era. The Real Estate sector of Jaipur is a promising avenue for investment and better times are awaited.