Some Insights into Jaipur's Real Estate Market

Jaipur makes for one of the fastest growing and relatively stable real estate markets in the country. There are several growth nodes that have been observed in the Jaipur realty markets. If you were to look for flats for sale in Jaipur, you would probably want to explore high activity areas like Jagatpura, Patrakar Colony, Vaishali Nagar and more. Jaipur benefits from its extensive network of highways and roads that connect the city to Ajmer Road, Sikar Road, Tonk Road, Delhi Road and Sirsi Road. There are several leading developers who have been steadily carving a niche for themselves in the Jaipur property market with landmark offerings. Average property appreciation in Jaipur has been to the tune of 8-9% but if one were to take a few years into account, 10-15% would be the more likely figure that can be arrived at.

Jaipur’s residential realty market is mainly driven and fueled by a healthy balance of end users and investors in a 40:60 ratio. The profile of customers who usually look for flats for sale in Jaipur include businessmen, entrepreneurs, IT/ITeS and BFSI professionals, residents of neighboring towns looking to upgrade their lifestyles and other migrants from the city itself. The property market in Jaipur has also derived sufficient interest from the high priced markets of Delhi-NCR. Supply in the market is maximum in terms of the 2000-3000 sq ft category and people are seen to prefer 3 BHK configurations more than others.

Realty development in Jaipur is but natural considering that it is the largest city in Rajasthan and the capital. The Pink City is also a cultural paradise and is famous for its cultural history, tourist spots and attractions, handicrafts, exports and gems. The city is also a favored IT hub in recent times and this fusion of traditional and contemporary industries lends it a special favor of its own and is also sparking realty development. Delhi is well linked to Jaipur in addition to Jaisalmer, Udaipur, Agra and Jodhpur through roads and highways and of course, the railway network and airways. Investors in Jaipur usually look at returns for the long haul and there is some speculation related to this aspect as well. Yet, speculation has been sometimes discouraged by measures taken by developers including the termination of unit resale transactions till the payment of specific amounts of the entire sale value. As mentioned there is huge interest in the Jaipur realty market from hitherto natives who have settled in other cities of the country along with the NRI community and residents of Delhi-NCR.

There are several local developers who dominate the market in Jaipur but there are several pan Indian players present here as well including the Siddha Group, Omaxe, Emaar MGF and Ansals. Both 2 and 3 BHK apartments are sold in Jaipur in large numbers and there are some specific growth corridors where development is taking place at an unprecedented rate. These corridors include Ajmer Road, Sikar Road, Jagatpura and Vaishali Nagar among others.