Property in Jaipur

The capital of Rajasthan, Jaipur is one of the most visited cities by tourists in India. It is also known as the Pink City of India as the historical buildings are made-up of pink-coloured stones. It is the tenth most populated city in India and is a part of the Golden Triangle tourist circuit along with Agra. Jaipur is a heritage city, one of the reasons that it draws a large number of tourists every year. Jaipur is not only a tourist attraction now, the city is emerging as one of the developing cities to attract investors and real estate developers as well. With economic progress, the city has steadily evolved into a fast growing real estate market.

Infrastructure
Jaipur enjoys smooth connectivity from several parts of India. NH-8 runs along Jaipur and links it to Delhi and Mumbai. NH-12 connects it to Kota while NH-11 that connects Agra and Bikaner passes through the city. The city has a robust RSRTC bus transport network, which offers connectivity to Delhi, Madhya Pradesh, Uttar Pradesh, Punjab, Haryana, Maharashtra, Gujarat, and other parts of Rajasthan. The JCTSL bus service is available in the city with several bus depots. The BRTS here is managed by this agency and there are two North-South and East-West corridors proposed for better connectivity between Sikar Road and Tonk Road, and Ajmer Road and Delhi Road, respectively. Jaipur is the headquarters of North Western Zone of the Indian railways. Jaipurs international airport is located at Sanganer and offers air cargo services. Jaipur gets its water from two major rivers Banas and Banganga. The electricity is received in the city from hydro-electric power, which is supplied by Chambal Hydel System.
Many infrastructure projects are likely to raise property prices in Jaipur. The metro rail, which is operational between Chandpole and Mansarovar with nine stations, has improved the real estate prices in localities including Vivek Vihar, Mansarovar and Shyam Nagar. The 1-Phase B is under construction and is likely to be completed by 2018. The ring road project, with a length of approximately 145 km, is expected to be completed soon. The city is one of the participant in the smart city project initiated by the Centre. Under the project, Jaipur will be focusing on improving the transportation, tourism and solid management on priority. These key areas will enhance the quality of life in the city and will impact the real estate in Jaipur.

Homes and Living
Jaipur possesses a flourishing real estate market and demand is quite high in developing areas according to market statistics. Areas such as C-Scheme and Malviya Nagar have witnessed huge growth in property price due to higher demand and rapid development. At present, these areas are offering high returns. Other areas such as Mansarovar Extension, Durgapura, Bani Park, Nirman Nagar and J L N Marg are also witnessing good demand levels. Jagatpura, Tonk Road, Sikar Road, Ajmer Road and Jhotwara are emerging realty zones with high potential of returns in the future. Sirsi Road and Vaishali Nagar are also emerging as lucrative realty investment destinations on account of speedy infrastructural progress. The proposed ring road and metro rail will increase the prices of property in Jagatpura in future. There are more than 25 residential projects coming up in Tonk Road. Property registration procedures have been computerised in Jaipur and Registry and Revenue Office is the go-to destination for the same. Jaipur Municipal Corporation (JMC) collects the property tax.

Demographics
The population of Jaipur Metropolitan area makes it the tenth most populated city of India. According to the 2011 census, the population of Jaipur was approximately 6.6 million then with a decadal population growth of 26.91 per cent. Also, as per the census, the sex ratio in the city is 898 women per 1,000 men.

Governance
Administrative regulations and civic infrastructure is governed and maintained by JMC in Jaipur. Established in 1994 under the Rajasthan Municipality Act 1959, JMC has 91 wards in the corporation, which are divided into eight zones. All the wards have an elected member each and are headed by a mayor. The development and planning in the city is undertaken by Jaipur Development Authority (JDA), a major governmental agency. The city has two parliamentary constituencies.

Industry and Employment
Jaipurs major economic sectors include education and tourism. The city is a hub for gemstone cutting and jewellery manufacturing apart from luxury textiles. Information technology is also proving to be a major industry in the city. It is ranked 31 among 50 Emerging Global Outsourcing cities. Jaipur has Business process outsourcing (BPOs) of many renowned companies including Deutsche Bank Group Jaipur, Infosys and Genpact. Infosys Ltd also has its software development centre here. Mahindra SEZ is one of the largest IT special economic zone (SEZ) in India. The city is one of Indias best global outsourcing hubs and is home to Jaipur Stock Exchange. The city is a major destination for handicrafts arts, antiques, gems, pottery, textiles, carpets, bangles, and leather and metal products. The city is also famous for producing Jaipur leg, a pioneering rubber based prosthetic leg. World Trade Park in the city is likely to boost the economy, once it is fully operational.

Lifestyle
Jaipur is home to several tourist attractions and cultural marvels like Ravindra Manch and Jawahar Kala Kendra. Government Central Museum houses antiques and hosts several art programmes. The renowned Hawa Mahal has a museum while there is an art gallery at Viratnagar. The city is dotted with statues and shops selling handicrafts and other antiques. It is home to several traditional arts and crafts including zardozi, gota, block printing, sculpture, kundan, gems, meenakari, miniature paintings and more. These are visible all throughout the city in its galleries, workshops for artisans and shops. The city is famous for performing arts and hosts several renowned events throughout the year. Major festivals and fairs include Gangaur Kite Festival, Elephant Festival, Jaipur Literature Festival and Teej. The city also has a plethora of restaurants offering some lip smacking local cuisine. With urbanization, the city now also has several shopping malls and complexes along with movie theatres and other entertainment zones. Johari Bazaar and Tripoli Bazaar are some of the popular markets of the city for buying jewellery, artifacts, handicrafts and other items.