Tuesday, 29 August 2017

Do you know top rental destinations in Jaipur

Jaipur, the city known for its cultural heritage, is now emerging as one of the top real estate investment destinations knowing to its all-round growth. The city has a flourishing tourism sector; growing auto, textile and electronic manufacturing hubs; and emerging IT and education sectors. These fast growing sectors have called for employment generation, accelerated industrialism and commercial development in the city.

Strategically located at the confluence of three national highways — NH-8, NH-12, and NH-11 — the city is also witnessing a plethora of social-infrastructural projects including Jaipur Metro, Rapid Transit Rail project, Ring Road, Mahindra’s 3,000-acre Special Economic Zone and Reliance Mega City development plan. These developments have worked as a catalyst in making the city a lucrative destination for real estate developers as well as investors.

 

1. Ajmer Road

With the infrastructural development and integrated townships, Ajmer Road is attracting investors from neighboring regions like Delhi and the national capital region. It is recognized as one of the smart investment options given the upcoming infrastructural development and established special economic zones. Apartments on Ajmer Road are priced in the range of Rs 2,200 per sq ft – Rs 6,500 per sq ft.

2. Tonk Road


Tonk Road that runs parallel to Jagatpura in Jaipur is another good choice for real estate investment. Experts trust that the completion of the proposed transport projects including the Ring Road will further enhance the area’s connectivity to the rest of the city and thus, increase the demand for residential units. The area also has some famous attraction around Tonk Road which includes Chowki Dhani, Ranthambore Tiger Sanctuary, and Sheetla Mata Mandir. Apartments on Tonk Road are priced in the range of Rs 2,250 per sq ft-Rs 7,700 per sq ft.

3. Sirsi Road


Located close to Vaishali Nagar and Ajmer Road, Sirsi Road is an upcoming investor- driven area owing to its infrastructural progress. Being a less familiar zone in Jaipur, the property prices at Sirsi Road are low when compared with other posh areas in the city. Apartments on Sirsi Road are priced in the range of Rs 2900 per sq ft - Rs 3100 per sq ft.

4. Jagatpura


Jagatpura is among one of the fast emerging real estate destination owing to its proximity to Jaipur International Airport as well as the prospering Sitapura Industrial Area. Proposed Ring Road and Metro Rail are further likely to boost the prices in the area. Apartments in Jagatpura are priced in the range of Rs 1,923 sq ft - Rs 5,740 per sq ft.

5. Vaishali Nagar


Located in the southwestern part of the city, Vaishali Nagar is one of the prime residential suburbs which have witnessed residential, commercial as well as retail development over the years. The locality possesses all kinds of social-infrastructural facilities and has a number of multiplexes, malls, eating joints and other recreational centers. Owing to all these benefits and good connectivity, the area has witnessed a very good capital appreciation in past couple of years. Apartments in Vaishali Nagar is priced in the range of Rs 3,000 per sq ft - Rs 7,700 per sq ft.

6. Pratap Nagar

Cited to be a residential hub, Pratap Nagar, located on the NH 8, is becoming one of the fastest growing realty destinations. Owing to its close proximity to the International Airport, the area is a preferred rental locality for many working professionals. There seems to be an inherent demand for 2 BHK apartments for rent here. Second time home buyers and local investors are now tapping into this demand and are buying inventories only with the sole aim of renting it out later. While a 2 BHK apartment in Pratap Nagar is estimated to cost an average of INR 33 lakhs, the same home is capable of generating rental returns anywhere between INR 7,000 and INR 16,000 per month.

7. Mansarovar

An array of educational institutions dot this vicinity. The presence of many management and engineering colleges have lured in a fair share of the student population who are now showing a keen interest in renting out residential spaces or living in PGs. Investors with a long term goal have invested in many properties in Mansarovar and have converted them into small time boutique hostels. High return on investment is another factor that has enticed many second time home buyers to invest in properties here. In two years, capital values of properties here have escalated over 16%. While the current ongoing rates of apartments for sale here are cited to hover between the price bracket of INR 3,000 and INR 4,100 per square feet. Rental yields for the same property cost anywhere between INR 10,000 and INR 20,000 per month, thus making the market a favorable destination for many investors.

8. Malviya Nagar

Situated right in the middle of a commercial and an industrial belt, a number of shopping malls, health care units, and multiplexes have mushroomed here. Many families and retired personnel are now shifting base here due to these social amenities. While the locality offers both smaller and generous living spaces on rent- the average size of 3 BHK homes here is going up. Depending on if they are fully or semi furnished, homes here are can generate rental yields anywhere between INR 12,000 and INR 23,000 per month.


For more information about real estate in Jaipur, Rajasthan

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