Jaipur is rising as one of the most preferred new destination of high-class lifestyle in India. Seriously viewed as an alternative to Noida and Gurgaon, it has arisen as the second fastest growing city in the country. With smooth and better roads, air and rail connectivity to commercial capital Mumbai and, the national capital New Delhi, this famous tourist destination has now arisen as a new star in the real estate market. In a nutshell, real estate Jaipur is definitely on a spin.
With several new information technology projects coming up in the area, Jaipur has arisen as an important IT destination. Many international and Indian companies and groups are strengthening their foundations in the city. As corporate demand would also require high-quality residential infrastructure and properties to support current expansion, the city is also witnessing a horde of ultra modern projects by all the leading national as well as multinational companies. Recently, a reputed multinational has bought an 800-acre plot in Jaipur for $110 million to build a five million square meters integrated township which will include offices, commercial spaces, and residential units.
When a famous company announced its multi-product Special Economic Zone in the capital city of Rajasthan, many famous real estate builders declared their residential plans to lodge the final demand. Most of the new projects are integrated townships being developed in the neighbouring areas of Jaipur. For Example, the plan launched by one of these companies on the outskirts of the city will contain 4000 units including studio apartment (costing Rs 9 Lakh), 2BHK ( Rs 17 Lakh), 3BHK (Rs 21 Lakh) and 4BHK (Rs 25 Lakh).
The information technology growth in Jaipur is seen by experts as the real breakthrough for real estate business growth. Being located at a five to six miles drive from Delhi on Mumbai-Delhi Highway, the city has a well-developed transport network which offer connectivity by all means of transportation and the soon to come metro link will also an added advantage.
According to the report of an NGO, Jaipur is the fastest growing Tier 2 city in the country. Jaipur Development Authority has collected the revenue of more than 1500 crores during 2014-15. Thus, the government has also decided to invest more in the development of the city. A special project has been prepared for strengthening the infrastructure in six towns of Rajasthan and Jaipur is at the top in the list.
