iwebvisions

Thursday, November 01, 2007

Jaipur - A Promising Real Estate Destination of India

As the property prices in metro cities like Delhi, Mumbai and Bangalore turn to prohibitive levels, business conglomerates are exploring alternative locations. The city like Jaipur is considered potential destination vis-a-vis its sound local economy and investment prospects. Roundabout it's the Jaipur real estate that would reap the benefits. Owing to its proximity, 258 kilometers, to national capital Delhi, Jaipur is viewed as a similar place to Delhi, what Pune is to Mumbai. Nevertheless, the city is predicted as one of the ten Mega Cities of future in India.

Of late, Jaipur real estate is steaming with a suit of mega projects. The largest of them include Mahindra's 3000 acre SEZ (Special Economic Zone), Anil Dhirubhai Ambani Group's (ADAG) Mega City Development Plans, and Hero Honda's Rs 700 crore manufacturing plant. International finance major GE capital has already started its operations in Jaipur while technology mammoths viz. Infosys, Cisco, Wipro, HCL, IBM, are exploring prospects in Jaipur.

Business Processing Outsourcing (BPO) giant Genpact, after setting up a huge facility in the city, is also planning to invest around Rs 150 crore in the upcoming IT SEZ in Jaipur. Such kind of commercial activities have been generating further employment opportunities, and a large number of people are expected to come to settle in the city. Corporate demand would entail class housing and infrastructure to sustain future growth. And it ultimately points out to the major overhaul for the residential properties in Jaipur.

At present, national realty major like DLF, Sahara and Ansal have their projects underway in the city. Parsvnath Group, which has its presence in many cities of Rajasthan, is developing residential projects in Jaipur. Vatika Group is also coming up with Vatika InfoTech city that would carry a mix of commercial and residential properties.

Property values in Jaipur

According to MagicBricks.com reports, the current capital prices of apartments in Civil lines hovers around Rs 2,500-3,500 per sq ft and the rentals are around Rs 9,000-15,000 per month. In C-Scheme the apartment capital value is Rs 3,000-4,000 per sq ft for a 2BHK apartment and the rentals are approximately Rs 8,000- 20,000/month.

For more information on Mumbai Property Prices visit magicbricks.com, here you can also know about Gurgaon Properties.

For more details on Jaipur Property Prices, log on to magicbricks.com

Article Source: http://EzineArticles.com/

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