JAIPUR: Jaipur, the capital of Rajasthan, is positioned as one of the best tourism spots in India. It is also emerging as a commercial destination with major corporate houses setting up and expanding their base in the city. In spite of these favourable factors, the city is yet to achieve the best pricing in the real estate sector.
Currently, the real estate market of this city is divided into four segments and locations. For instance, segment A is for the super luxury living, segment B+ for ultra luxury and segment B for comfort living. The segment C is for affordable living.
We believe that clients who fall in the B+ segment look for healthy returns. The locations that are the best for investments in this segment in Jaipur are Bani Park, Bapu Nagar, Malviya Nagar, Raja Park, Jawahar Nagar, Adarsh Nagar, Vaishali Nagar, Shyam Nagar and Jawahar Circle Area. This segment gets good investment returns as the rates in these areas are mostly unaffected by the market position and price correction. The real estate markets of these locations:
Jawahar Circle, JLN Marg: The location is surrounded by several 5-star hotels like Marriott, Clarks Amer, Raddisson Blu and The Lalit. Apart from this, important landmarks such as the Royal Orchid, Eternal Heart Care Centre, Fortis Hospital and World Trade Park are also located here. While there is the upcoming Gol Market, the Government has added another new project for Gems & Jewellery segment for which 5-acre land has been selected near the Airport. The ultra luxury residential flats with fully-equipped club house ranges from Rs 78 lakh for a 2BHK to Rs 1 crore for 3BHK units.
Shipra Path, Mansarovar: Like Govind Marg for Raja Park and Jai Singh Highway for Bani Park, Shipra Path is one of the major roads in Jaipur. Shipra Path connects two by-passes, B2 by-pass and Gopalpura by-pass which makes it easily accessible to the National Highways such as Kota Road, Delhi Road and Bombay Road. While the airport is just a 10-minutes drive from Shipra Path, the metro station can be reached within 5-minutes. Some of the city’s best hospitals and schools are situated on this road. Land rates are around Rs 75,000 to Rs 1 lakh per sq yd. The ultra luxury residential flats with fully equipped club house are available within Rs 78 lakh to Rs 1 crore in 2 and 3BHK configurations.
Mahaveer Nagar is one of the premium colonies in Jaipur. It is attached to Tonk Road and offers a good habitable environment. The land in this locality is available for around Rs 70,000 to Rs 1 lakh per sq yard on main roads. The locality enjoys proximity to the airport. Other than this, the area adjoins one of the best commercial destinations such as World Trade Park and Gaurav Tower.
The luxury residential projects in these areas are built on more than 4,000 sq yard land and comprise enough space for landscaping and cross ventilation. With surrounding roads also being wide enough, there is a good deal residential development happening.
While there are several projects that are under-construction, there are some that are already occupied. Since, these locations are still developing they are yet to reach their highest capacity in terms of capital values. With such prospects, the localities are a boon to both investors and end-users.