Jaipur is the capital city of the state of Rajasthan. It is a popular tourist destination and is known worldwide for the many tourist attractions it offers. The Pink City has an illustrious history and is a part of the famous tourist circuit that includes Jaisalmer, Jodhpur, Mount Abu, and Udaipur. The city is well known for its forts and UNESCO World Heritage sights. It has been experiencing immense infrastructural growth and economic development lately. It is part of the Smart City Mission and is poised to become a mega city by 2025.
Let us look at why Jaipur is the fastest-growing real estate destination:
Jaipur has been identified as a mega city in the future due to the economic development focus on the city. It is part of the Golden Triangle tourist jaunt with Delhi and Agra. Its proximity to the national capital region makes it an ideal destination for business investment. The city also is a part of the Golden Quadrilateral connecting the major cities of India that will receive special attention in terms of industrial development. All these reasons make Jaipur a hub for employment opportunities. This will boost the demand for flats in Mansarovar Extension Jaipur and commercial real estate development. Owning a property in Jaipur is a good bet for investors.
The Jaipur metro will improve the connectivity within the city. Metro Phase 1A and 1B will improve the demand for residential real estate along the metro corridor and locations in and around the metro route. The Jaipur BRTS is also an innovative solution to improve the connectivity within the city. It is well connected to major cities in neighboring states by bus services. Jaipur has an international airport connected to all major cities of India and destinations abroad.
Jaipur has a flourishing business economy for silver jewellery, gemstones, apparel, carpets, handicrafts, marble and stone items, footwear, engineering products, and so on. The city is getting a mega SEZ (Special Economic Zone) developed by the Mahindra Group. It is the fastest-growing healthcare and educational hub and destination for Reliance Group’s Medicity. The presence of IT MNCs like Infosys and Genpact is proof of the booming IT and ITES sector set for fast growth. These developments directly boost the demand for real estate to meet housing and commercial property demands.
Real Estate Sector
The property market in Jaipur is still at the developing stage when compared to other developed markets like metro cities. The demand for residential projects in Jaipur is expected to grow in the coming few years. This is the right time to invest in the upcoming projects in Jaipur to save the cost of investment and earn good returns in the future. The flats in Jaipur are being developed by major developers with the best amenities.
These are some important factors that make Jaipur a fast-growing real estate destination with the promise of consistent growth in the future.