The Residential Real Estate Scenario in Jaipur

The colorful traditional heritage of Jaipur has tempted many tourists till date. However, with the progresses in technology and globalization, Jaipur has not only remained a mere tourist destination; rather, it has become a destination, magnetizing prime real estate developers in the recent past. Founded in circa 1727, the largest city as well as capital of Rajasthan got its name from the ruler of Amber - Maharaj Sawai Jai Singh II. Also known as the Pink City, Jaipur is not only known for gems, handicrafts and export items, but also as one of the key IT destinations. The impending time will see the Pink City be home to modern and traditional industries.

Key trends in Jaipur’s real estate market

·      The trend of the development of suburban micro-markets has finally arrived at the Pink City. Several suburban markets such as Vaishali Nagar, Jagatpura, Patrakar Colony, and the like have prospects of becoming a lucrative residential real estate market.  Another factor that has propelled the growth of suburban sectors of the city is an excellent network of well-maintained roads and highways such as Sirsi Road, Tonk Road, Delhi Road and Ajmer Road.

·         As per surveys, an approximate appreciation of the residential areas of Jaipur’s micro markets within a span of 10-12 months is 8-9%.

·         60:40 is the ratio of investors and end users in Jaipur’s residential marketplace. The city is dotted with the residential projects coming from some of the finest real estate players. The buyers of real estate projects include IT/BFSI/ITeS professionals, businessmen, etc. All the buyers throng the Pink City’s residential real estate market to improve their living standards. Further, the ROIs in the city’s residential market are higher than the high-end NCR real estate projects.

·         Last, the capital of Rajasthan has also witnessed soaring interest of speculators in its real estate market owing to several factors such as future employment generation ability, residential costs, infrastructure, closeness to retail establishments, to mention a few.

All such trends point to the unremitting growth of Jaipur as an up-and-coming real estate power. The presence of projects such as VatikaInfotech City Jaipur has invited several real estate investors. VIC in Jaipur is a township having a vast range of residential and commercial projects.

New Emerging Trends in Construction Engineering

Every sector wants to expand and grow, and it experiences expansion by going hand-in-hand with technology. Obtrusive progress of construction sector is a result of growing with the latest trends and technology.  Nowadays, construction has not only structures, but also strategies to implement even the most complex of projects.  Several research analysts and construction houses believe that the growth is here to stay. Right from building design to using the latest construction material, each of these parts of construction sector has witnessed quantum change. 

Construction companies are becoming a one-stop shop

Traditionally, each of the construction engineering documents were created by civil engineers and then given to contactors for re-drawing. The entire process ate a lot of precious time. However, at present, there is a visible shift in the traditional working methodology as every engineering document and coordination work is done in-house.

The new modular construction

Most of the industry experts opine that modular construction is the new face of the construction technology. The modular construction techniques work wonders especially in circumstances, when the building needs to go up in no time. Holding greater prominence in commercial construction, the modular technique of construction is initiated by constructing a section of the building and occupying the same; further, building other parts of the structure.

Energy-efficient structures

Some of the big construction houses are leaving no stones unturned to make green buildings. Leading construction bosses underscore the value of solar panels and wind turbines in a housing society. Constructing an energy-efficient building not only does a favour to the environment, but also adds to the commercial worth of a project as more and more people want to go green.

Several plots in Jaipur may have great scenic views, but few will mirror the progresses of construction. The marvels of construction can be witnessed if a look is stolen at the flats in Jaipur, located in the Vatika Urban Woods.