India is in the middle of a real estate boom and Jaipur is no exception. Jaipur has been known as a prime tourist destination for years with its pink architecture gaining it the name of the “Pink City”. Jaipur is the capital city of the state of Rajasthan. Not surprisingly many people have decided to call Jaipur and the surrounding communities home and residential real estate sales are booming. Real estate sales generally are set to increase by 25-30% in 2015.
Jaipur is fast becoming a center for commercial real estate. IT/ITES companies are flocking there because of inexpensive building materials, proximity to what is becoming an international airport and a new 8-lane expressway connecting Jaipur to surrounding areas which are also experiencing the real estate boom.
Residential real estate giants such as Omexe City, Sushant Lok Parsvnath Narayan City, Amarpali and Vatika are proceeding with massive residential real estate projects in Jaipur and surrounding adjacent communities. Real estate sales companies are offering hundreds of houses for sale at reasonable prices. However with real estate developments increasing the value of real estate higher prices will soon follow. Now is the time. Limaye of Jones Lang LaSalle India tout Jaipur and Jodhpur as good property investments as they are part of the golden triangle on the tourism circuit.
Apartment dwelling real estate units are part of the boom. One agent reports 4072 properties, 242 projects and 21 dealers in Jaipur.
We therefore predict the following for Jaipur real estate in 2015:
1. Influx of commercial real estate as companies relocate to this favorable destination
2. Abundance of new residential real estate projects offering affordable housing at least for the near future.
3. Prime Investment opportunities in the new commercial buildings which will arise in Jaipur and surrounding communities.
4. Real Estate growth at the astronomical rate of 25-30% which includes volume and increase in value.
5. Rental real estate units such as apartment complexes will increase in availability and value.
