Jaipur, 258 km from Delhi, is one of the fastest-growing business cities of this region. Among other factors, it is rising to prominence on the back of its well-planned city layout and architecture. Jaipur offers innumerable options and varied opportunities for entrepreneurs, large corporates and investors.
The Rajasthan Industrial Corporation has planned an information technology park in Sitapur, which has excellent connectivity with Jaipur. Many thriving IT companies like Infosys and Wipro are also scheduled to set up base in Jaipur. Developers such as Ansals, Parsvnath and Omaxe have plans to develop integrated townships with world-class infrastructure here.
One of the recent developments in Jaipur is the growth of its Peripheral Business Districts, and the Jaipur-Ajmer Expressway is part of it. The region has gained significant popularity among property investors and end-users. Ajmer Road is six-laned and well-developed, now an arena of serious real estate action.
Lately, the Expressway has seen tremendous growth in construction of both commercial and residential projects. Jaipur's rapidly-developing infrastructure has provided impetus to this growth corridor, and property prices are seeing significant appreciation. Naturally, investors are keen on Jaipur's real estate market, not least of all because of the growth of the IT/ITeS sector.
With Special Economic Zones (SEZs) being proposed by two corporate majors, Ajmer Road can expect increased traction in its real estate. Apart from this is the fact that it is close to the city's Peripheral Business Districts.
Availability and accessibility of various infrastructure facilities is another important reason driving investors and developers' interest in Ajmer Road. There is a lot of demand for mid-income and luxury apartments, and reputed developers are catering to this demand with projects offering all the major amenities. Availability of large land parcels at affordable prices is a major growth driver. Investors can look to buy plots priced within the range of Rs 5-30 lakh.
The larger micromarket around Ajmer Road boasts of social infrastructure in the form of schools, colleges, hospitals, avenues for entertainment such as cinema halls and restaurants, as well as shopping malls. Ajmer Road, therefore, provides the possibility of good returns on investment, now and in the future. Current rates for residential flats in this area are Rs 2,200-3,400/sqft.
The writer is CEO - Operations & International Director, JLL India