The real estate market has seen ups and downs all around the globe. However, there are still flourishing areas where the real estate bubble has not popped yet, and it doesn’t seem to be getting any close. Property investment in Jaipur is a recommendation from most specialized realtors, as the area has seen tremendous growth over the last 3 years.
Industry development and the rise of Jaipur as an IT Startup center, along with infrastructure increase is making it one of the most appealing destinations for companies, manufacturers and investors.
Property Purchase Pros
The residential and industrial properties available for someone to buy are still diverse, with many advantages, if chosen properly:
A property approved by the JDA (Jaipur Development Authority) has more value and increase prospects over the years;
Investing in a smaller lot, house or apartment in the Jaipur area creates a wider range of customers from which 2 income possibilities appear:
The property’s increase in value over the years
Rental income
Residential advantages: since Jaipur is the fastest developing metropolis in the country, the industrial projects go hand in hand with residential ones. At the same time, parks, recreational opportunities, educational institutions and commercial ones are growing at the same rate
Jaipur’s property value growth is rated around 10-15% annually, making it possible for a somewhat fast passive income.
Real Estate Investment Cons
However, even if there are great advantages to property investment in Jaipur, there are also downsides one must be aware of before making a purchase:
The electrical, drainage or street light systems often have issues, so if the purchased property is not located near a VIP person, there might be problems or even delays in fixing a problem.
Corner and property with Vaastu are a priority. The Indians are highly religious people, and finding a property that doesn’t enable their beliefs or rituals could be hard to sell in the future.
Road or industrial expansions: the biggest threat to a Jaipur property investment is the possibility that the government might want that lot for road expansion or other type of development. That means the property will be bought by the Indian Government at a fraction of its market value.
Construction quality: A developer’s catalogue of properties, apartment buildings or houses may be impressive. But no purchase should be made without verifying the property in person. Bringing the family or other future residents is advisable, as well as an independent civil engineer who might asses the quality of the building.
Investing in a Jaipur property is still considered a deal, especially for those planning to increase their income by selling in a few years. However, commons sense must dictate the decision made, and not just the “rush for gold”. Success will follow.
