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Property Trends in Rajasthan

Submitted by on Wednesday, 24 September 2008No Comment

Rajasthan is the largest state with rich history. As an investor, if you are looking for property that meets your expectations of both heart and budget, you must scout properties in Rajasthan. The market here offers commercial and residential spaces that are fairly priced and conveniently located thereby catering to every demanding requirement of a property buyer.People in Rajasthan have shown inclination towards quality products, but now the trend has indemnified. They are ready to shell out large money, simultaneously unwilling to compromise on quality.

Jaipur, popularly known as Pink city, is a place of culture and heritage. Good residential facilities are largely available in Jaipur. The immense business potential of the fledging segment of Rajasthan has already drawn large interests from some of leading Indian real estate developers, who are entering these markets to make a killing on cheap land and easy investor money.

As per the data showcased by the Jaipur Development Authority (JDA), the population of the main city, which is 19, 00,000 is poised to grow to 48, 00,000 by 2011. This will create a high demand for residential properties in the city. The growth is believed to be fuelled by a large number of employment prospects as the economy takes root in Jaipur due to arrival of a number of IT majors, MNCs and capital good companies.

Coupled with the already shooting real estate prices, Neemrana is likely to be one of the most preferred destinations for those looking for a weekend home. A landmark on the Delhi- Jaipur highway, Neemrana is known for its Fort hotel that has become a weekend getaway for holiday enthusiasts of Delhi.

This upcoming city will soon see the development of Special Economic Zones (SEZs). Ansal API, a Delhi based real estate developer, has got the formal approval from the Rajasthan Government to develop a multi product based industry SEZ at Neemrana. It will involve a whopping investment of Rs 6,553 crore and spread over an area of 2,500 acres.

Strategic location of Neemrana raises it in the eyes of investors. The place falls in the midway between Delhi and Jaipur. Though the taxes in Rajasthan are high as compared to other states, the climate of the region suited out product profile. Although, the taxes in Rajasthan are much as compared to other states, the region’s climate caters to the overall profile of the product. Seeing such a huge potential that the place offers, it is but obvious for the industries and companies to think about spreading their horizons here.

Neemrana Phase III will be transformed into a complete industrial estate, which will feature a number of residential units, education, medical centers and a tool room for plastic and auto units, besides industrial units.

Currently, the famous Ansal API has taken up two real estate projects in Rajasthan. According to industry sources, the company has acquired around 8.6 lakh sq ft at a Rajasthan industrial belt 50 km off the National Capital Region for a residential complex at an estimated cost of around Rs 120 crore. Construction work is scheduled to start in March.

Vatika Group, having made a name by virtue of achievements in the commercial and residential sector in Gurgaon, is to reassert itself, this time in Jaipur, with an IT city.

Spread over 800 acres on Ajmer Road, this will be called Vatika Infotech City, a self- contained integrated township with shopping complexes, a five-star hotel, recreational centre, health club, medical facilities and schools.

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