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Real
Estate in Jaipur
 Jaipur,
popularly known as the 'Pink
City of India'
is the capital of Rajasthan. This royal city, even today
is considered to have the best-planned road infrastructure
among many places in India. However, the skyline of
Jaipur is also changing with times. And this is justified
with the co-existence of the majestic monuments of the
Raj and the most modern architectural galore of the
present.
Like
all other upcoming cities in India, Jaipur is also set
to make its own statement in the economic growth of
the region. As far as Jaipur real estate is concerned,
the scenario is looking quite upbeat. To help it achieve
its goal, the state government is taking initiatives
like strengthening infrastructure and promoting IT &
ITES policy in the city, considered the most comprehensive
way of redefining financial growth.
As Jaipur real estate gears up to present itself in
its new avatar, there has been a large influx of investments
in this sector. Its close proximity to Delhi and the
National Capital Region (NCR) - considered the epicenter
of growth is one of the credible factors for the corporate
sectors eying Jaipur as a possible hub in the face of
growing congestion in the metros. Apart from being a
promising infrastructural ground, the property prices
of Jaipur is comparatively lower than the adjacent metro
cities.
Besides,
Jaipur's easy connectivity to the prominent Indian cities
and international destinations makes it a favorable
business destination. Proposal for a SEZ in Jaipur and
IT giants Wipro and Infosys showing interest for investing
in the city is a clear indication of the changing trends
in the city's economy. As IT and BPO industry continue
to flock into the city, there has also been an inflow
of large workforce, creating a dearth of residential
spaces in the city.
To
meet the rising demand for residential and commercial
retail spaces, there have been many initiatives from
developers all over the country. Prominent names like
those of Omaxe, Vatika, Parsvnath and Ansal have bid
for developing residential, retail and office spaces
in Jaipur thereby taking Jaipur real estate to unparallel
heights.
The
800-acre integrated Infotech city to be developed by
Vatika besides providing international style of living
also plans to develop a 50-acre IT Park with capacity
of accommodating approximately 50,000 IT professionals
and aided staff. There are also plans to develop a World
Trade Park in Jaipur city, which will have offices,
a convention center, retail outlets, a five-star hotel,
entertainment centers and computerized parking facilities
for 1,100 vehicles.
Moreover,
Jaipur as a real estate prospect is growing with leaps
and bounds. The realty graph in the city shows a capital
growth of 5 to 7 percent in the last one year. Moreover,
as the ratio of demand to supply is deficit, there has
been remarkable escalation in the property prices.
The
better infrastructure in connectivity with the 8-lane
expressway and international airport is also a major
contributor to the popularity of Jaipur as an investment
destination. Also the upcoming projects mushrooming
in and around the city have made Jaipur thrive on to
become one of the fastest growing cities in India.
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It’s
ever growing economy which is on a continuous rise with
8.1 percent increase witnessed in the last financial year.
The boom in economy increases purchasing power of its
people and creates demand for real estate sector. 