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.