While increasing number of business houses and IT firms explore Jaipur as a potential business destination, the residential as well as the commercial properties in the city are flourishing like never before. Not only does the city provide various affordable options to reside in but also offers lucrative returns on investment.

The rates of residential properties in Jaipur have grown manifolds in the recent past. The residential values in Jaipur have spiraled by three to four times in the past three years, say industry experts. The residential property which was available for Rs 20-25 lakh in prime residential areas of Malviya Nagar and C-Scheme, some four years back now costs a crore.

Furthermore, with the liberal government policies succor various infrastructural and economic developments the heritage city is trailing its way to be the top notch real estate destination of the country. With Jaipur all set to become an IT destination, the city's residential real estate market is attracting massive investments, from across the country.

Developers thrust

When Omaxe Ltd announced its multi product SEZ in Alwar district of Rajasthan spread over the area of 5,000 hectare, a host of real estate developers declared their residential projects to accommodate the eventual demand. Most of the new ventures are integrated township projects coming up in the peripheral areas. Take, for instance, the township launched by Unique Group at Ajmer road, 17 kms away from the city centre, with 3,500 units including studio apartments (costing Rs 8 lakh), 2 BHK (costing Rs 15 lakh) and 3BHK (costing Rs 18 lakh).

According to media reports, Jaipur is the fastest growing metropolis in the country. The increase in Jaipur real estate is anticipated at a considerable 10 to 15 per cent per year. Mohan Kapoor, a Jaipur real estate agent informs, "the property values are rising, especially in the residential land segment, and will heap on further in the times to come. In my view this is the most opportune time to invest in Jaipur Properties to reap big returns, in the mid to long term, he says.

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