DELHI: The status of Bhiwadi as a priority town of the NCR has catapulted it to a pole position and put it firmly on investors’ radar. Known primarily as an industrial town, Bhiwadi comprises industrial centres of Bhiwadi, Khushkhera, Chopanki, and Sare Khurd. But today Brand Bhiwadi stands for quality living at affordable values, amongst other things. Comparatively low land prices, increasing housing demand, and good connectivity with Gurgaon and other parts of the NCR have attracted the attention of various reputed developers to launch residential projects in and around Bhiwadi.
Economic activity has always triggered real estate development in any region and Bhiwadi is no exception. The setting up of large and medium-scale industries has created a huge demand for residential real estate development which in turn has also generated demand for retail real estate sector. Population in the proposed master plan area has been increasing at a high rate here. Sample this: in the 2011 Census, Bhiwadi registered a population of 1,04,883, compared to only 33,877 in 2001. This three-fold increase can be attributed to the fact that Bhiwadi started as an industrial area but has today become a large residential town.
Bhiwadi enjoys locational advantage too. The industrial town located along the borders of Haryana and Rajasthan, is well connected to various regional centres through Delhi-Jaipur National Highway (NH-8) and other linking roads. Bhiwadi is around 70km from the CBD of Delhi and nearly 40km from Gurgaon. A spokesperson from VBHC, a company developing affordable homes across India and also in Bhiwadi, says: “The locational advantage of Bhiwadi-close proximity to NCR-rapid industrial development under the initiative of RIICO, and improved traffic and transportation network are the major factors that have led to the development of the real estate sector in the town.”
VBHC plans to develop affordable homes using form technology, a faster process that helps reduce costs.
Rajeev Talwar, director of VBHC, says: “We promise a hand-over period of 18 months. We approach land as an inventory instead of an asset and the idea is to finish projects as soon as possible, which offsets the rising costs of land and material, labour, and interest to be paid to investors.” Several private developers have launched integrated townships, group housing, plotted developments, and villas in Bhiwadi. Some property developers are even coming up with retail projects in the form of organized retail or malls. The dominant product in this market are two and three (even four) bedroom apartments at an average rate of Rs 3,000 per sq ft.
Ashiana Housing Limited has many projects in Bhiwadi like Ashiana Gulmohar, Ashiana Gardens, Ashiana Villas, Ashiana Greens, Ashiana Bageecha, Ashiana Rangoli, and Ashiana Utsav (exclusively for senior citizens)-most of these are fully occupied, a spokesman of the firm said. In the resale market, the value of Ashiana Greens’ two and three bedroom units ranges from Rs 3,200-3,400 per sq ft. The market is basically driven by end users. Buyers come from all segments, especially people working in the industries in Bhiwadi and Dharuhera, and those working in the automobile companies and MNCs of Manesar.
Avalon Group has projects like Avalon Rosewood with 2BHK (1,250 Sq ft), 3BHK (1,650 sq ft), and 4BHK (3,000 sq ft) units. The project comes with lifestyle amenities like jogging tracks, party lawn, skating rink, basket ball and badminton courts, clubhouse with state-of-the-art gym, snooker and table tennis rooms, swimming pool with splash pool, 24×7 security and fire safety systems, and round-the-clock water supply and power backup. Other projects by the group are Avalon Regal Court (2BHK, 2BHK + study, and 3BHK apartments) and Avalon Royal Park (2BHK, 3BHK, and 4BHK apartments), Avalon Gardens (2BHK, 3BHK, and 1BHK studio apartments), Avalon Residency (Phase 1: 2BHK and 3BHK apartments), Avalon Homes, Bhiwadi (1BHK and 2BHK apartments), AND Avalon Rangoli, Bhiwadi (2BHK AND 3BHK apartments). They have two commercial projects-Avalon Plaza and Avalon Galleria.
Ajay Agarwal, Director of Avalon Group, says: “Bhiwadi is the fastest developing integrated industrial and IT hub in the NCR. Bhiwadi need a Metro link with the NCR as soon as possible. The town can also do with more investment in healthcare with super-speciality hospitals, in the education sector with more engineering and medical colleges. A Metro-link bus service would greatly ease the lives of the residents and the work force here. The roads here need to improve and Radio taxies and CNG-run metered autos are also direly needed.”
Parsvnath has a project, Parsvnath City Centre, which combines retail and hospitality. The project has serviced apartments of 1,224 sq ft and 2,990 sq ft and shops of 500 sq ft. The average unit value for retail is Rs 5,500 per sq ft and serviced apartments are quoting at Rs 2,900 per sq ft. Pradeep Jain, chairman of Parsvnath Developers, says: “What makes Bhiwadi a compelling proposition is its close proximity with Delhi, which in turn has earned it the sobriquet of ‘regional centre’ and ‘priority town’ of the NCR. The cityin-the-making is already a preferred residential suburb for MNCs and industrial complexes in Manesar and Dharuhera.
“The town is also surrounded with areas housing important industrial complexes and IT parks like Manesar, Tapukara, Khushkhera, Chaupanki, and Bawal. It is this proximity to major industrial spots that has galvanized growth in this region, attracting more and more investors. Industrialists from Delhi, Punjab, and other parts have set up their bases here.” Some proposed developments in the area include a cyber city, a medicity, a knowledge city, an entertainment city, SEZs, a World Trade City, and a bio-diversity park. In addition to the forthcoming and ongoing developments in Bhiwadi, rocketing prices in Gurgaon have lured the middlelevel investor and end user to Bhiwadi.
On the flipside, although city is witnessing development, it seems sporadic and lacks planned sectoral development.