5 Real Estate Investment Destinations In Jaipur
Jaipur, the city known for its cultural heritage, is now emerging as one of the top real estate investment destinations owing to its all-round growth. The city has a flourishing tourism sector; growing auto, textile and electronic manufacturing hubs; and emerging IT and education sectors. These fast growing sectors have called for employment generation, accelerated industrialisation and commercial development in the city.
Strategically located at the confluence of three national highways — NH-8, NH-12 and NH-11 — the city is also witnessing a plethora of socio-infrastructural projects including Jaipur Metro, Rapid Transit Rail project, Ring Road, Mahindra's 3,000-acre Special Economic Zone and Reliance Mega City development plan. These developments have worked as a catalyst in making the city a lucrative destination for real estate developers as well as investors.
Although there are many upcoming residential areas in Jaipur, there are some residential pockets that are emerging as the most promising.
With infrastructural development and integrated townships, Ajmer Road is attracting investors from neighbouring regions like Delhi and the national capital region. It is recognised as one of the smart investment options given the upcoming infrastructural development and established special economic zones. Apartments on Ajmer Road are priced in the range of Rs 2,200 per sq ft – Rs 6,500 per sq ft.
Tonk Road that runs parallel to Jagatpura in Jaipur is another good choice for real estate investment. Experts trust that the completion of the proposed transport projects including the Ring Road will further enhance the area's connectivity to the rest of the city and thus, increase the demand for residential units. The area also has some famous attraction around Tonk Road which includes Chowki Dhani, Ranthambore Tiger Sanctury, and Sheetla Mata Mandir. Apartments on Tonk Road are priced in the range of Rs 2,250 per sq ft-Rs 7,700 per sq ft.
Located close to Vaishali Nagar and Ajmer Road, Sirsi Road is an upcoming investor-driven area owing to its infrastructural progress. Being a less familiar zone in Jaipur, the property prices at Sirsa Road are low when compared with other posh areas in the city. Apartments on Sirsa Road are priced in the range of Rs 2900 per sq ft - Rs 3100 per sq ft.
Jagatpura is among one of the fast emerging real estate destination owing to its proximity to Jaipur International Airport as well as the prospering Sitapura Industrial Area. Proposed Ring Road and Metro Rail are further likely to boost the prices in the area. Apartments in Jagatpura are priced in the range of Rs 1,923 sq ft - Rs 5,740 per sq ft.
Located in the southwestern part of the city, Vaishali Nagar is one of the prime residential suburbs which have witnessed residential, commercial as well as retail development over the years. The locality possesses all kinds of socio-infrastructural facilities and has a number of multiplexes, malls, eating joints and other recreational centres. Owing to all these benefits and good connectivity, the area has witnessed a very good capital appreciation in past couple of years. Apartments in Vaishali Nagar are priced in the range of Rs 3,000 per sq ft - Rs 7,700 per sq ft.