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Friday 19 June 2015

Why Does Investing in Jaipur Make Sense Now?

An increasing number of people are moving to Tier II cities from metropolitan ones. Rising costs of living, increasing crowds and pollution are some of the factors that are making people exit cities like Delhi and Mumbai. The job opportunities available in Tier II cities have also increased which has made it easier for people to make the move. Several home seekers have made the move to other cities of NCR such as Bhiwadi, Alwar, Manesar, Jhajjar and Yamuna Expressway. Jaipur is a rapidly developing city and is becoming a favoured destination for investment among home buyers looking to live close to Delhi.

The aspects that drive the market for flats for sale in Jaipur is the high rate of job creation, rapid implementation of the metro railway project and infrastructural developments such as railway and road networks. Moreover, the social infrastructure of the city is well-developed as there are several health centres and hospitals, banks, educational institutions and retail outlets in the city.

The two areas that are witnessing a lot of traction around Jaipur are Ajmer Road and Mansarovar. Both areas have new and old flats for sale in Jaipur at reasonable rates. Mansarovar is a well-developed residential neighbourhood and is located centrally from several areas. It is 1.5 kilometres from Vijaypath, 3 kilometres from Muhana Mandi and 4-5 kilometres from Durgapura Railway Stations and Gandhi Nagar. The neighbourhood has at least twenty new residential projects. These projects are up for possession in 2015, a few by 2016 and 2017.

The area has several penthouses and apartments in 3 and 2BHK configuration. Mansarovar can be accessed easily from the Jaipur International Airport which is 13 kilometres through NH 11. The closest railway station to Mansarovar is at Durgapura. The price of 2BHK flats for sale in Jaipur’s Mansarovar starts at Rs 35 lakhs which can go up to Rs 60 lakhs while the price of 3BHK apartments is between Rs 40 and 75 lakhs.

The Ajmer Road is another popular locality for investment in Jaipur. It has fifty projects available, comprising of under construction ones and ready to move in properties. The locality has 2 and 3 BHK flats for sale in Jaipur and 5 and 4BHK villas. The price of villas begins at Rs 50 lakhs and goes up to Rs 1 crore. For apartments, the prices range from Rs 40 to 70 lakhs. Ajmer Road is strategically placed by the Elevated Road. It has several hospitals, schools, banks and convenience stores in the vicinity. The highway continuing on to Ajmer is only 2 kilometres from here while the Inox Cinema is 4 kilometres from here. The highway enhances its connectivity with Gurgaon and Delhi.

Investing in Jaipur is a good prospect not only for people living in Jaipur but also in Delhi NCR. The area’s infrastructural development is improving and with the inflow of corporate companies, the real estate value of various pockets in the city is steadily increasing. The rates are also quite affordable, thereby making investment possible.

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