With all the landmarks and important places nearby, a location near the heart of the city would be perfect to establish a residential area. People who intend to buy residential property in Jaipur have been expecting the same for many years. Residential plots in Jaipur have today developed into luxury housing societies. Besides basic amenities, these luxury apartments offer many other facilities such as a beautiful view of the city from balconies, classy designs, and a congenial neighborhood. Such facilities are attracting more and more people to these residential areas.
Let us have a look at some superb features of these apartments.
Founded in 1727 by Maharaja Sawai Jai Singh II, Jaipur today has made a remarkable progress in the real estate sector. The city has a population of around 3.1 million, along with an infrastructure good enough to handle it. One of the most popular hot spots for tourism in India, Jaipur is divided into 6 sectors by broad streets. A network of streets having grids further divides the urban quarters.
Residential plots in Jaipur-Ajmer Highway are currently a highlight in the state of Rajasthan. The highway offers better connectivity between the two cities. Skillfully designed, the townships on Jaipur-Ajmer highway are amply spacious and majestic in look. These include 2BHK, 3BHK and 4BHK flats, along with villas.
The Pink city, a major tourist destination, known for its heritage sites, forts, handicrafts, jewelleries, traditional rich culture, has fast emerging as India’s leading investment destination hub after Gurgaon, Noida, Pune. The well planned city , the wide roads, clean and peaceful city, Jaipur has lured people of other neighbouring areas to buy properties here as investment.
We give below some essential guiding tips for property investment in Jaipur
- Residential plot or apartment: The most lucrative sector as of now is the Jaipur Highway, which connects Jaipur with Delhi. The world class expressway, which is under construction, will be completed by June 2015. Many renowned real estate developers like Vatika Group are coming up with many projects along the highways. If you are planning to invest, then this is the best time. You can opt for buying a residential plot in Jaipur, which would cost less than an apartment in Jaipur Highway, at present. Once the expressway is completed, the residential property prices will rise. Residential plots on the highway or the integrated townships coming along the highway are better options.
- Selecting a developer: Many small and new developers are emerging in the Jaipur real estate sector. It is to be noted that projects being developed by a new builder or an unknown builder are prone to delays in completion, though their offers will be comparatively cheaper. Investors or customers should always pay a little premium but should opt for a branded or reputed developer who will ensure the project is executed or completed on time and you know that your money is in safe hands.
- Absorption: Jaipur is fast growing in the likes of Gurgaon but it has not reached that stage yet. The areas like the outskirts of Jaipur or the expressway have large inventories and absorption could continue to slow down. In areas with low absorption rate, residential properties are less costly. Hence these are suitable for long term investors, who can wait for 5-10 years. You should investment in property in such areas only if you do not have any plans to sell off the property immediately.
- Specification: Look for areas that are adjacent to an open public park or greenery around because when buildings and townships grow tall, it becomes difficult to find large open spaces, which is the case in Gurgaon or Noida now. In Jaipur, there are still lot of open spaces available. So when you buy a property, make sure that your area has some space around it, so that there is no question of over crowdedness.