By Mr. Santhosh Kumar, CEO – Operations,
JLL India
Bhiwadi
is located is the Alwar district of Rajasthan, and is an emerging industrial
destination in the NCR region. Located at just 40 km from Gurgaon, Bhiwadi is
witnessing a shift from its erstwhile image as a mere industrial area to
destination with full-fledged real estate viability. Being a part of the
Delhi-Mumbai Industrial Corridor (DMIC), Bhiwadi is now an acknowledged as an
investment zone.
Still
primarily driven by its industrial sector, Bhiwadi encompasses the
manufacturing centres of Chopanki, Khushkhera andSare Khurd. There is a massive
amount of additional industrial development activity planned by The Rajasthan
State Industrial Development and Investment Corporation (RIICO).
Advantageously
located along the borders of Rajasthan and Haryana, Bhiwadi has been seeing
improving connectivity with Delhi and Gurgaon, which has reflected favourably
on its realty market. Due to the relatively cost-effective land prices, growing
housing demand and excellent connectivity afforded by the Delhi-Jaipur National
highway (NH-8), there has been a spurt in new residential housing projects
catering primarily to the people employed in this industrial belt as well as
for people looking for reasonably-priced properties around established centres
of Gurgaon and Delhi.
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| Santhosh Kumar, CEO – Operations, JLL India |
As
a result, Bhiwadi has attracted the attention of various reputed developers
primarily offering affordable housing projects, with only a scattering of
luxury projects. The average ticket size for apartments in Bhiwadi is between
Rs. 2400-3500/sq.ft, and the annualized appreciation to the tune of 5-10%,
which is consistent with the overall market dynamics of NCR.
Apart
from rapid residential development, Bhiwadi is also witnessing growth in retail
and office spaces. For instance, BhagatSingh Colony – the
prime residential area of Bhiwadi – is also turning into a retail and
commercial nerve centre. V Square Mall, located on Bhiwadi-Alwar Highway, is a
multiplex-cum-shopping mall in the city. The mall-cum-office complex Sky View
Tower, BB Mall and Ganapati Plaza are upcoming developments on the retail real
estate front in this region.
Realising
the potential of this corridor, government is working towards improving the
social and civic infrastructure. Bhiwadi’sinfrastructure
is improving rapidly, with various projects on the anvil. The proposed Bullet
train and Metro connectivity will further enhance Bhiwadi’s real estate investment
attractiveness quotient. As a result, Bhiwadi is firmly on property investors’
radar.
For
Media Contact
Arun
Chitnis
Head
– Corporate Communications & Media Relations
JLL
India
Pune – 411 001.
Tel: 020 30930441 Fax: (020) 40196101
Mob: +91 9657129999
Pune – 411 001.
Tel: 020 30930441 Fax: (020) 40196101
Mob: +91 9657129999
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