Jaipur is sincerely viewed as an alternative to Gurgaon and it is anticipated as one of the ten mega cities of future, in India. Considering that corporate and institutional focus is the actual indicator of future growth, Jaipur real estate is surely on a spin.
With several big IT projects coming up in the city, Jaipur has surfaced up as a major IT destination. Major Indian and international MNCs are setting up their feet in the city. Prestigious projects including, Mahindras 3,000 Acre SEZ, Anil Ambanis Mega City Development Plans and Hero Hondas Rs 700 crore plant are there to be launched soon.
Beside, Infosys, Cisco, Wipro, HCL, IBM, Daksh, Hinduja TMT etc are also exploring business opportunities in Jaipur. Subsequently, there is Knowledge Corridor, Sports City at Achrol and several hospitality projects including five star hotels by the likes of Taj, Hyatt, Radisson, and Hilton in the offing.
Residential property sector
As corporate demand would require quality residential properties and infrastructure to support future expansion, Jaipur is witnessing a horde of such projects both by local as well as metropolitan city-based real estate developers like Narayan group, Narvik Nirman, Omaxe, Suncity, Unique group, DLF, MGF, Vatika, Ansals, Parsvnath, etc.
Recently, Fishman Holdings Indian real estate development subsidiary, Mondon Investments Ltd., bought a 600-acre plot in Jaipur for $108 million for building a four million square meter integrated township which will include residential units, commercial space, offices, and high-tech space at a whopping investment of $2 billion.
The IT wave in Jaipur is termed by the industry experts as the breakthrough for Jaipur real estate. Being strategically located at 3-4 hrs drive from Delhi on Delhi-Mumbai Highway, Jaipur has a well laid out transport network which offers connectivity via all means of transportation, and the upcoming metro link would be an added benefit.