Jaipur Now Becoming Golden City of Real Estate
Jaipur is one of the most popular tourist destinations in India. With its assimilation of history and culture, Jaipur had always been a prosperous city. Now with its commercial advancement and the coming of IT and many multinational companies, the city’s real estate market has started to thrive. There is steady rise in the demand for commercial and residential spaces in Jaipur. The property value has escalated by 8-10 % across the city during 2012. Few localities like Ajmer Road, Jagatpura, Chitrakoot, and Vaishali Nagar registered a hike of up to 15 % during the same period. The biggest commercial venture in Jaipur at present is World Trade Park. It is to include a five star hotel, a mini golf course, 250 showrooms, underwater restaurant, retail space, auditorium and convention center. Other mega projects include the Mahindra World City.
Mahindra had corroborated with RIICO to develop this multi specialty economic zone (SEZ). The World City spreads over an area of 188 acres and major IT companies such as Wipro Technologies and Infosys had already applied to set up their offices here. The World City is also to include state-of-the-art warehousing and logistic zones that can compete with the best of its kind in the world. This may soon transform Jaipur into India’s logistic hub. The Jaipur Development Authority is planning to build an international convention center with a golf course to promote economic growth. A theme park called “Mini India” is also being considered. It will cover 50 acres of land shared with a golf course and a cricket academy.
All the advancement in economy and commerce has automatically led to a demand in residential space. The best residential properties in Jaipur are coming up along the Ajmer Road. The Upasna Group has been a pioneer in the matter of developing the first integrated township in Vaishali Extension. Jaipur is one India’s small towns beside Ghaziabad, Lucknow, Faridabad and Panipat that are showing great potential when it comes to growth in the commercial and residential real estate development. The proposed 265 Kms Delhi-Jaipur Expressway, will also add to the real estate value of the city and facilitate the building of four new townships in Behror, Sahapura, Kotputli and Chomu.