Real Estate Investment in Jaipur, INDIA

Jaipur is a place of culture and heritage. Thus it means that many companies are ready and some have started investing in the real estate Jaipur.

Why Invest in Jaipur?

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, Mahindra's 3,000 Acre SEZ, Anil Ambani's Mega City Development Plans and Hero Honda's Rs 700 crore plant are there to be launched soon.

Commercial Developments in Jaipur

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 in Jaipur

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, Debock Group, 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.

Growth Drivers

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.

Future Prospects

According to media reports, Jaipur is among fastest growing Tier II cities in the country. Jaipur Development Authority (JDA) has collected revenue of more than Rs 1,000 crores during 2008-09. Further, the rise in Jaipur Real Estate.

Education in Jaipur

Jaipur is fast becoming a center of quality education and coaching center for entrance of various reputed institutions. In addition, many medical & engineering colleges have been started and functioning smoothly. Jaipur has some of the country's best schools.

The Government of Rajasthan has decided to accord high priority to the development of towns and cities. A special project of Rs.1,530 crore has been prepared for strengthening the infrastructure in six principal towns of Rajasthan, namely Jaipur, Jodhpur, Bikaner, Udaipur, Kota and Ajmer.

Key Features That Make Jaipur A Preferred Investment Destination

• Eleventh largest city in India with a population of 3.0 million. Highest population growth among tier two cities (49% for decade 91-2001)
• Destined to become a Mega City by 2025 with a population of 10 million persons encompassing over an area of about 800 sq km.
• Capital of the largest state of India, Rajasthan
• Availability of international airport, with flights to all major destinations in India and abroad
• Counter magnet to New Delhi, the capital of India
• Hub of domestic and foreign tourist, with almost 80% of foreign tourist coming to India, visits Rajasthan via Jaipur
• Great center of exports. Largest center for export of colored gemstones, sterling silver jewellery, handicrafts, carpets, apparel, traditional footwear, marble & stone artifacts, engineering goods, etc.
• Special Economic Zone (SEZ) joint venture by Mahindra & Mahindra with RIICO on 3000 bighas of land
• Fast emerging health care destination, with Medicity of Reliance Group in the pipeline
• Emerging IT/ITES destination, with major players like Genpact, Infosys Progeon, etc. already present in the city
• Located on Golden Quadrilateral which is proposed to be upgraded as & National Express Way
• Fast emerging education center and boasts of a developed infrastructure
• Excellent law and order situation, with stable political scenario
• Low Establishment Cost

What Investors Speak?

"I think Jaipur is very attractive. It's clean, it's very well-maintained; the infrastructure in the town is very good; it's open; plus, we have a lot of graduates and a lot of excellent colleges to pick future employees from.... So, all these things put together have made Jaipur very attractive for us."

- Pramod Bhasin, President, GE Capital

"The State Government has been constantly investing funds to improve the industrial infrastructure. The availability of electricity for industrial consumption is one of the best in North India."

- Alex Von Behr, President and CEO, Coca-Cola India

"The peaceful industrial climate, the support of the government, a willingness to keep pace with changing times through reforms and supportive agencies have made Rajasthan very conducive to industry. The infrastructure in the state continues to be among the best."

- Pran Dang, Managing Director, Gillette India Ltd.

"One thing I would like to say about Rajasthan Government is that from an investor's perspective, the other state governments, the "traditional" Indian state governments and officials have a very regulatory approach towards investment, the Rajasthan Government has a very promotional and proactive approach towards industry. That goes a long way in the success of the industry."

- Harsh Chopra, Managing Director, Ray-Ban India