Best investment and residential location in Jaipur
Tier II real estate markets like Jaipur mirrored the nation’s lukewarm real estate mood. However, aspirations for 2023 remained strong thanks to promising new developments like Agra Road, Sikar Road, and Mansarovar Extension. Ajmer Road, Jagatpura, and Tonk Road, all traditionally developed neighborhoods, kept up with the rest of the city throughout the year. Using data from the previous year, we can predict which Jaipur properties will be the greatest investments in 2023.
Jaipur’s emerging hotspots for property investment
Jaipur is rapidly developing and the best investment residential locations in Jaipur are as follows:
Agra Road
Agra Road has become one of Jaipur’s hottest real estate markets in the past five years. The Jaipur Development Authority (JDA) has proposed turning Agra Road into a satellite city in its Master Plan 2025. Since it is a crucial link in the grandiose Ring Road project, Agra Road will likely continue to draw funding in the coming years. The previously difficult commute to the area is much easier thanks to the Ghat ki Guni tunnel.
For a 2 BHK apartment, real estate prices have stabilized per square foot. A film city, a heritage market, and new schools can attract investors to the Agra Road real estate market.
Sikar Road
This section of road between Vishwakarma Industrial Area (VKI) and Sikar has recently become a hotspot for property development in Jaipur. New construction in this area of Jaipur is primarily comprised of home developments aimed at middle- and upper-income families. It benefits from easy access to major thoroughfares like the Jaipur-Delhi Expressway and the Ajmer Road and proximity to densely populated areas with a middle-class population, like Vidhyadhar Nagar and Jhotwara.
Even though residents have trouble getting around due to poor access to major roads like Tonk Road and Jawaharlal Nehru Marg (the military cantonment is in the way), the proposed Jaipur metro Phase 2 from Ambabari (a nearby neighborhood) will be a boon to the local real estate market.
Mansarovar Extension
Despite its remoteness from any major thoroughfare, the area benefits from being near the Jaipur-Ajmer Expressway on one side and the B2 bypass (which leads to Tonk road) on the other. People looking to buy or build a home are drawn to the area because of its spaciousness and suburban vibe. Mansarovar Extension is chosen by both middle- and upper-middle-income group buyers, according to Rakesh Meharchandani, owner of Satyam properties in Jaipur and a real estate dealer. It’s also a good fit for people in the market for inexpensive houses. Depending on its location, a two-bedroom apartment might cost anywhere from Rs 17 lakh to Rs 35 lakh. This area is poised for continued growth in the years to come because to its closeness to the Mahindra Special Economic Zone (SEZ) and easy access to the Muhana Mandi, one of the largest vegetable market in all of Rajasthan.
Tonk Road
In search of a ritzy area to live in? Tonk Road is the last stop on your search. The Gandhinagar Jaipur Railway Station, the Jaipur International Airport, and the Sitapura Industrial Area are all within a short driving distance from this clean and beautiful residential colony.
It is also home to some of the world’s finest hospitals, including the renowned Narayana Health Complex, Bombay Health Complex, and Mahatma Gandhi Health Complex. Tonk Road, a mostly residential area in Jaipur, is a prime real estate investment location.
Rapid improvements to the area’s infrastructure have helped Jagatpura South become one of Jaipur’s most desirable neighborhoods. As a result, many of the best developers in the city and the country are now making available cheaply priced ultra-luxury real estate in South Jaipur neighborhoods like Jagatpura.
Jagatpura
Jagatpura is a wonderful option for investing in residential units in Jaipur. It provides less expensive residential housing facilities while being well-connected to the rest of the city via efficient public transportation.
While much of Jaipur’s real estate is priced in the millions of rupees, Jagatpura is one of the few neighborhoods where you can get nice homes for a reasonable price. Jagatpura is a fantastic option if you’re searching for reasonably priced homes that nonetheless offer a variety of convenient features and amenities. Homes in Jagatpura cost an average of 49.85 lakhs. This is a fantastic spot to consider when deciding where to buy a house.
Traditional areas of development in Jaipur
These areas continue to attract the most investment into housing complexes, including Jagatpura, Tonk Road, and Ajmer Road. Homebuyers now have additional places to put their money, thanks to the proliferation of new communities. Buyer sentiment, though, tends to favor the more conventional markets. Even though major builders have entered areas like Jagatpura and Ajmer Road, a well-established neighborhood with good schools and public services is still the top choice for most buyers.
Trust has been undermined somewhat by developer default scenarios, but people still largely base decisions on developer reputation.
Gokul Kripa Colonizers & Developers Pvt Ltd owner Shri SUMER SINGH SAINI has this to say about the city’s housing market: “Apart from residential flats, homebuyers are showing an increased interest in buying plots.”
Pratap Nagar and NRI Colony are two other areas that have gained attention as good places to put money. Some potential infrastructure projects include expanding the Jagatpura train station and constructing a metro line in Sitapura.
The faith of homebuyers has been shaken by several incidents of delayed projects and insolvency, yet individuals still prefer projects from reputable and profitable real estate developers. The real estate market is anticipated to begin its road to recovery in 2023, and 2022 has undoubtedly raised the hopes of the developer community.
Conclusion
Overall, the traditional real estate investment destinations prepared the way for the growth of the allied locations, and other undiscovered areas are currently being investigated in Jaipur. Improvements to Sikar Road and Agra Road gave 2022’s homebuyers more opportunities.
The real estate sector in Jaipur and other Tier II cities would benefit from national policy shifts like introducing the ‘Alternate Investment Fund’ and the push for affordable homes.
Best investment and residential location in Jaipur
Tier II real estate markets like Jaipur mirrored the nation’s lukewarm real estate mood. However, aspirations for 2023 remained strong thanks to promising new developments like Agra Road, Sikar Road, and Mansarovar Extension. Ajmer Road, Jagatpura, and Tonk Road, all traditionally developed neighborhoods, kept up with the rest of the city throughout the year. Using data from the previous year, we can predict which Jaipur properties will be the greatest investments in 2023.
Jaipur’s emerging hotspots for property investment
Jaipur is rapidly developing and the best investment residential locations in Jaipur are as follows:
Agra Road
Agra Road has become one of Jaipur’s hottest real estate markets in the past five years. The Jaipur Development Authority (JDA) has proposed turning Agra Road into a satellite city in its Master Plan 2025. Since it is a crucial link in the grandiose Ring Road project, Agra Road will likely continue to draw funding in the coming years. The previously difficult commute to the area is much easier thanks to the Ghat ki Guni tunnel.
For a 2 BHK apartment, real estate prices have stabilized per square foot. A film city, a heritage market, and new schools can attract investors to the Agra Road real estate market.
Sikar Road
This section of road between Vishwakarma Industrial Area (VKI) and Sikar has recently become a hotspot for property development in Jaipur. New construction in this area of Jaipur is primarily comprised of home developments aimed at middle- and upper-income families. It benefits from easy access to major thoroughfares like the Jaipur-Delhi Expressway and the Ajmer Road and proximity to densely populated areas with a middle-class population, like Vidhyadhar Nagar and Jhotwara.
Even though residents have trouble getting around due to poor access to major roads like Tonk Road and Jawaharlal Nehru Marg (the military cantonment is in the way), the proposed Jaipur metro Phase 2 from Ambabari (a nearby neighborhood) will be a boon to the local real estate market.
Mansarovar Extension
Despite its remoteness from any major thoroughfare, the area benefits from being near the Jaipur-Ajmer Expressway on one side and the B2 bypass (which leads to Tonk road) on the other. People looking to buy or build a home are drawn to the area because of its spaciousness and suburban vibe. Mansarovar Extension is chosen by both middle- and upper-middle-income group buyers, according to Rakesh Meharchandani, owner of Satyam properties in Jaipur and a real estate dealer. It’s also a good fit for people in the market for inexpensive houses. Depending on its location, a two-bedroom apartment might cost anywhere from Rs 17 lakh to Rs 35 lakh. This area is poised for continued growth in the years to come because to its closeness to the Mahindra Special Economic Zone (SEZ) and easy access to the Muhana Mandi, one of the largest vegetable market in all of Rajasthan.
Tonk Road
In search of a ritzy area to live in? Tonk Road is the last stop on your search. The Gandhinagar Jaipur Railway Station, the Jaipur International Airport, and the Sitapura Industrial Area are all within a short driving distance from this clean and beautiful residential colony.
It is also home to some of the world’s finest hospitals, including the renowned Narayana Health Complex, Bombay Health Complex, and Mahatma Gandhi Health Complex. Tonk Road, a mostly residential area in Jaipur, is a prime real estate investment location.
Rapid improvements to the area’s infrastructure have helped Jagatpura South become one of Jaipur’s most desirable neighborhoods. As a result, many of the best developers in the city and the country are now making available cheaply priced ultra-luxury real estate in South Jaipur neighborhoods like Jagatpura.
Jagatpura
Jagatpura is a wonderful option for investing in residential units in Jaipur. It provides less expensive residential housing facilities while being well-connected to the rest of the city via efficient public transportation.
While much of Jaipur’s real estate is priced in the millions of rupees, Jagatpura is one of the few neighborhoods where you can get nice homes for a reasonable price. Jagatpura is a fantastic option if you’re searching for reasonably priced homes that nonetheless offer a variety of convenient features and amenities. Homes in Jagatpura cost an average of 49.85 lakhs. This is a fantastic spot to consider when deciding where to buy a house.
Traditional areas of development in Jaipur
These areas continue to attract the most investment into housing complexes, including Jagatpura, Tonk Road, and Ajmer Road. Homebuyers now have additional places to put their money, thanks to the proliferation of new communities. Buyer sentiment, though, tends to favor the more conventional markets. Even though major builders have entered areas like Jagatpura and Ajmer Road, a well-established neighborhood with good schools and public services is still the top choice for most buyers.
Trust has been undermined somewhat by developer default scenarios, but people still largely base decisions on developer reputation.
Gokul Kripa Colonizers & Developers Pvt Ltd owner Shri SUMER SINGH SAINI has this to say about the city’s housing market: “Apart from residential flats, homebuyers are showing an increased interest in buying plots.”
Pratap Nagar and NRI Colony are two other areas that have gained attention as good places to put money. Some potential infrastructure projects include expanding the Jagatpura train station and constructing a metro line in Sitapura.
The faith of homebuyers has been shaken by several incidents of delayed projects and insolvency, yet individuals still prefer projects from reputable and profitable real estate developers. The real estate market is anticipated to begin its road to recovery in 2023, and 2022 has undoubtedly raised the hopes of the developer community.
Conclusion
Overall, the traditional real estate investment destinations prepared the way for the growth of the allied locations, and other undiscovered areas are currently being investigated in Jaipur. Improvements to Sikar Road and Agra Road gave 2022’s homebuyers more opportunities.
The real estate sector in Jaipur and other Tier II cities would benefit from national policy shifts like introducing the ‘Alternate Investment Fund’ and the push for affordable homes.