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The Indian real estate sector plays a significant role in the country's economy. The real estate sector is second only to agriculture in terms of employment generation and contributes heavily towards the gross domestic product (GDP). Almost five per cent of the country's GDP is contributed to by the housing sector.
Jaipur, the pink city, is one of the most popular tourist destinations in India. The capital of Rajasthan, Jaipur is famous for its gems and jewelry business and is among the fastest growing business centers of North India. It is one of the planned Indian cities located in proximity to Delhi, well connected by Delhi-Jaipur highway. It offers good connectivity to all the major cities of the country through all mediums of transport i.e. road, railways and airline. It is one of the most promising real estate destinations in the country today and is considered to possess one of the best infrastructures.
Jaipur is all set to make a mark in the field of economic growth in the country. The Jaipur Real Estate sector is looking very bright. The state government has taken various steps to make the city the next big destination for the Foreign Direct Investments. These include widening and improvement of major roads with flyovers and railway over-bridges, regularization of residential colonies on agricultural lands and improvement of overall infrastructure.
Key features making Jaipur preferred investment destination. They could be listed as :
1. It is a 'planned city' that underlines the fact that its foundation has been laid after careful planning and diligent research.
2. Its close connection to the national capital, Delhi has resulted in it becoming a preference for property developers.
3. It is the tourist destination denotes heritage and culture which attracts more and more Indians to invest in property available in the city.
4. The low property prices in the booming Jaipur property market are another significant factor capturing attention of investors.
5. Eleventh largest city in India with a population of 3 million. Destined to become a Mega City by 2025 with a population of 10 million persons encompassing over an area of about 800 sq. km.
6. The population the city, according to recent data and surveys by Jaipur Development Authority (JDA), the population of the city will witness an upswing owing to the job availabilities being generated consistently with the expanding commercial sector. This will therefore meet an upward trend ascribing to the residential segment of Jaipur's realty market.
7. The complete commercialization of Delhi has made it totally congested and has almost choked its property market. The prices of property are touching an all time high but this has proved highly beneficial to the cities around Delhi. The development of UP districts Gurgaon and Noida followed by Greater Noida and Faridabad is now extended to Jaipur. Jaipur already ranks high in its tourism and hospitality sector and is now heading towards real estate industry in full swing. Property prices in Jaipur have been upped but are slated for further increase in next few years after the completion of various under construction projects. Property in the city is affordable in spite of the hike in prices as they are lower than in metro cities like Delhi, Mumbai, Bangalore, etc. There are many upcoming residential and commercial developments taking place across the city.
8. Improved infrastructure and increased standard of living are attracting home seekers to look for houses on rent here. Wide roads, excellent drainage system shopping complexes, employment opportunities and educational Infrastructure are some of the highlights of recent development in Jaipur properties.
9. Also, the global standards of living and housing facilities offered by real estate developers in Jaipur is increasingly drawing investments from NRIs.
10. In addition to this, the IT wave and the boom in BPO sector in Jaipur are considered as the breakthrough for Jaipur real estate by the market experts as it has boosted the demand for modern commercial spaces. GE capital has moved into Jaipur and this has paved the way for the entry of a number of IT companies like Infosys, Wipro, Cisco, HCL, and IBM, which has worked to the city's advantage.
11. Moreover, the property in Jaipur promises excellent returns on investments with various leading property developers like Ansal API, Omaxe City, Sanjeevni Buildestate, Parsvnath Vatika City, etc; residential projects like Royal Greens, Suncity, etc. and commercial projects like Okay Plus Square coming up in the city soon.
12. The largest of them include Mahindra's 3000 acre SEZ (Special Economic Zone), Anil Dhirubhai Ambani Group's (ADAG) Mega City Development Plans, and Hero Honda's Rs 700 crore manufacturing plant.
13. Promising infrastructure base, an example of which is the existent 8-lane expressway
14. Great Center of exports, largest center for export of colored gemstones, sterling silver jewellery, handicrafts, carpets apparel, traditional footwear marble & stone artifacts, engineering goods etc.
15. Fast emerging health care destination with medicity of Reliance Group in the pipeline
16. Excellent law and order situation, with stable political scenario
17. Low establishment cost.
18. At last but not least Jaipur's Metro train project is finally ready to hit the tracks. By 2013 it is set to have metro rail working which will have 29 stations and is worth 7503 Crores INR. Jaipur will be first city in the country to have an elevated track for the Metro and the Bus Rapid Transport System.
All the above reasons are more than enough to induce property developers and property buyers into investing money in Jaipur real estate
CEO Message
Mr. Ashutosh Jhalani is a dynamic personality by himself. Confidence, Focus and correct move at the right timing define his character. Driven by his interest in property development and innovation he started pursuing Real Estate Business after completing graduation.
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