Right time to buy property in JAIPUR
Jaipur, the pink city, is one of the fastest-growing tier-II cities in India. In the last two decades, the city has already surpassed its image of being a dry, semi-arid land, and it has established itself as one of the most desirable places for residing in North India. After being enlisted as a smart city, Jaipur attracted huge real estate investment. Plus, after the inauguration of the start-up India mission, it developed as a hub of IT/ITES businesses. For many reasons, investing in a property in Jaipur is a profitable deal. And, the year 2020, is especially perfect for buying a house, flat, or plot in the city. In this write-up, we have mentioned a few compelling reasons for the same.
1) The smooth connectivity via metro- The Jaipur Metro phase I has already been completed and it has connected some major and suburban localities of Jaipur, such as Mansarovar, Vivek Vihar, New Aatish Market, Railway Station, Civil Lines, and Sindhi Camp. After the completion of Jaipur Metro phase II, we can expect that every corner of the city will be just a few minutes away from other places of importance. This ensures that if you buy a suburban plot or house in the city, it might not be accessible initially, but it will receive its connectivity to the main city very soon. This also suggests that property prices will gain a good appreciation in the future.
2) Enough property options to pick from- Post COVID-19 breakout has not been a good time for the real estate market. Right now, more people are fearful about investing in a property as they want to keep their money in liquid form. This suggests the real estate demand has fallen. But the good news is that the supply has not been affected. Therefore, it is the right time for investment. Whatever be your requirements and budget, you can easily find a property matching your expectations. Plus, with very low competition, you get a say over property price negotiation.
3) Growing special economic zones- Jaipur’s proximity and connectivity to major Indian cities like Delhi and Mumbai creates enormous opportunities for the development of industrial belts. To utilize this opportunity, the Government of Rajasthan has developed Mahindra SEZ in collaboration with the Mahindra Group. This SEZ has already attracted investment from many MNCs and public sector companies.
Apart from this, the government has also developed the Sitapura Industrial zone and RIICO. With the development of these special economic zones, the property prices of suburban properties are gaining huge price appreciation.
4) Massive growth potential- Being a hub of academic institutions and IT companies, Jaipur attracts thousands of tourists every year. Therefore, there has been a continuous demand for rental flats and homes. Moreover, being a major tourist hot spot, the city creates enough opportunities for tourism-allied businesses, such as guest houses, rented apartments, bed and breakfast, and so on. Therefore, buying a property in Jaipur gives you the opportunity to earn regular income in the future.
Apart from all the above-mentioned reasons, another factor that makes the present time perfect for buying a property in Jaipur is the development of several upscale residential areas and township projects. Investing in such budget-friendly residential properties ensures that you will reap healthy returns in just a few years.
