Bhiwadi: Best bet for middle class
Mar 25, 2014
Source : The Times of India

 

DELHI: Bhiwadi is one of the fastest growing destinations with manifold developments taking place in the residential, commercial, and industrial sectors here. The big advantage of Bhiwadi — for that matter places on or near NH-8 — is the ease of connectivity. The place has attracted a lot of industrial activity and provided scope for a boom in the real estate.

Bhiwadi is a lucrative investment option as well as an affordable destination for those who wish to reside in the NCR. With prices in core NCR region going out of reach of the middle class, salaried people on the lookout for investment opportunities in the range of Rs 12-40 lakh, can look to Bhiwadi and Dharuhera.

Why Bhiwadi

Bhiwadi is an affordable real estate market for middle-class homebuyers; as the town is developing rapidly, it will soon offer residents all the lifestyle amenities found in a metro setting. Salaried people of Gurgaon, who have currently rented apartments there, see Bhiwadi as an affordable yet convenient investment option as experts say the area is likely to appreciate by as much as 60% in the next couple of years. Some reports even suggest that in projects under construction now, the rates may double by the time they are ready for possession in three-four years.

This industrial belt is an emerging property hub with experts saying Bhiwadi is one of the top real estate investment destinations in India. Compared to Gurgaon, the prices are very reasonable in Bhiwadi. Also, the area offers better facilities at affordable rates to the middle-class people compared to Gurgaon, Noida, Faridabad, etc.

Bhiwadi is also called the gateway of Rajasthan. The town is spread over nearly 5,300 acres and is home to around 2,700 big, medium, and small-scale industries including steel foundries, electronics, engineering, textiles, pharmaceuticals, printing, cables, rolling mills, food processing, herbal care units, etc.

Bhiwadi had a registered population of 1,04,883 in 2011, with 57% comprising males and 43% females.

Bhiwadi’s location on NH-8 has helped it develop immensely-we must remember that the Gurgaon story has a lot to do with the same national highway. The developments along NH-8 have now spread as far as Alwar, Manesar, and Dharuhera with Bhiwadi in between.

These areas have also gained from the fact that the Delhi-Mumbai Industrial Corridor (DMIC) passes along this belt. This corridor will attract industries like automobile, packaging, IT, logistics, etc. This has further opened up opportunities to the real estate sector and many developers are making the area a priority for their new projects.

Developers and promoters have in fact smelled opportunity on this whole stretch and have moved to places as far as Jaipur. For people in Delhi looking for long-term investment opportunities, these places are emerging as some of the best options today.

Apart from the investment angle, people from the Delhi NCR looking for getaway homes can find a wide range of options in all these places.

Realty growth

Residential property is available in the price bracket of Rs 2,500-3,200 per sq ft in Bhiwadi. Some of the major realty players with land banks and developing projects here are Ashiyana Housing, Avlon, VBHC, Kajaria, Omaxe, etc. Ashiyana Housing has delivered more than six projects like Ashiyana Aangan, Ashiyana Rangoli, Ashiyana Utsav, in the area. Recently, the firm has launched its largest township project, Ashiana Town, in Thara, Bhiwadi. With a total saleable area of 39 lakh sq ft, Ashiana Town is over 51.45 acres and is at a prime location off Alwar bypass road. The township will have 4,000 units equipped with modern features and facilities.

Avalon Group has a number of projects like Avalon Rosewood, Avalon Regal Court, Avalon Royal Park, Avalon Gardens, Avalon Homes, Avalon Rangoli, and Avalon Residency that offer 2-, 3-, and 4BHK apartments which come with world-class facilities, a spokesman of the group said.

Avalon Rosewood will have around 23 towers in ground plus 14 storeys configuration, offering 2-, 3-, and 4BHK units. It will have 900 flats in 2BHK segment, 360 3BHKs, and 90 4BHKs-all designed by Sikka Developers. The base price is around Rs 2,850 per sq ft.

“Apart from good connectivity, Bhiwadi boasts of good pricing which makes it attractive to end users. Investors too are coming into the area because of the area’s potential for appreciation. Once the Japanese Corridor is functional, the appreciation of property will be even more. In the last few years, the area has seen an appreciation of about 30%,” Ajay Aggarwal, director of Avalon Group, said. BDI is developing BDI Ambaram on the Alwar bypass road, in Bhiwadi’s Sector 93. The project offers lavish residences and comes with various modern amenities like swimming pool, 24×7 power backup, round-the-clock security, intercom facility, a clubhouse. The project is expected to be delivered by December 2015.

BDI also has a luxury hotel, Golden Tulip, which is centrally located and close to Gurgaon’s business and shopping center and the IGI airport. Golden Tulip is a luxury leisure hotel as well as a business hotel with an option for long stay, weekend getaways, and conferences. Ashiana Housing has come up with a retirement home, Utsav, in Bhiwadi. The project is over 15.5 acres with 640 units and planned keeping in mind the requirements of senior citizens. The whole campus is wheelchair friendly and comes with special features like round-the-clock security, social, medical, and spiritual centres apart from recreational facilities like a club, swimming pool, badminton court, and gymnasium, a spokesman of the firm said.

Utsav Retirement Resorts is managed and maintained by the in-house facility management arm of Ashiana Group. Other facilities of the resort include home delivery of daily shopping needs, a convenience store, movingin services, resale and rental services.

Source: Times Property, The Times of India, Delhi/NCR

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