The Future of Real Estate Market in Jaipur: Manglam Radiance

Introduction to Real Estate Market in Jaipur

One of the Tier-II cities in India that is seeing the most rapid population growth is Jaipur, which serves as the capital of the state of Rajasthan. It is anticipated that by the year 2025, it will have grown into a Mega City with a population of 10 million people and an area of approximately 800 square kilometres. The tourism industry, manufacturing sector, export market, and educational infrastructure are all thriving in Jaipur, which has resulted in an expanded real estate market in Jaipur. Also, Jaipur is an essential cultural centre located on the Golden Triangle Route. 

Market Report on Jaipur’s Real Estate

     1. Average property prices: Jaipur’s average property prices have steadily increased over the past few years. As of the latest data, the average price per square foot for residential properties in Jaipur ranges from  INR 2,500 to INR 7,000.

 

2. Growth in demand: Jaipur’s real estate market has experienced significant growth in demand, particularly in the residential sector. This can be attributed to the city’s growing population, infrastructure development, and enhanced connectivity.

 

3. Development of affordable housing: The demand for affordable housing has been on the rise in Jaipur. Several affordable housing projects have been launched by both government and private developers to cater to the needs of the middle-income segment.

 

4. Luxury segment: The luxury real estate segment has also witnessed growth, with the development of high-end residential projects, villas, and luxury apartments in Jaipur. These properties cater to the affluent class and offer premium amenities and lifestyle options.

 

5. Commercial real estate: Jaipur’s market has also shown positive growth. The city has seen the development of various commercial spaces, complexes, retail outlets, and shopping malls, driven by increasing business activities.

 

6. Infrastructure development: Infrastructure development projects, such as the Jaipur Metro, road expansions, new flyovers and improved connectivity to major highways, have positively impacted the real estate market. These developments have led to increased accessibility and enhanced the overall value of properties in Jaipur.

 

7. Government initiatives: The government of Rajasthan has implemented various initiatives to boost the real estate sector, including streamlining approval processes, providing incentives for affordable housing projects, and promoting real estate investment in the state in order to improve the real estate market in Jaipur and also other cities of Rajasthan.

     8. Future prospects: The future perspective for Jaipur’s real estate market appears positive. With ongoing infrastructure development, improved connectivity, and a growing economy, the demand for residential and commercial properties is expected to continue to rise in the coming years.

 

The fact that a large number of investors from Delhi-NCR, UP, and Kolkata, as well as NRI investors from Dubai, Muscat, Kuwait, and other countries, are investing in Jaipur is contributing to the city’s real estate market in Jaipur’s progression toward betterment.

 

Is This the Right Time to Invest in Jaipur’s Real Estate Market?

In recent years, the city of Jaipur has seen the construction of several upmarket residential neighbourhoods. These neighbourhoods include Mahindra SEZ, Kalwar Road, Ajmer Road, Jagatpura, Choki Dhani, and many others. In just a few short years, investors who purchased flats in Jaipur in these residential zones have received substantial investment returns. 

According to information provided by Makaan, the average price of a property measured in square feet in Jagatpura in 2016 was 3257 Indian Rupees. In January 2018, the price per square foot in the exact location skyrocketed to 3,716 INR, indicating a massive price appreciation of 104.3%.

The real estate market in Jaipur’s costs has increased dramatically over the past year. As a result, now is the optimal time to put money into the real estate market in Jaipur.

 

Also Read:- How to Avoid GST on Flat Purchases

Real Estate Market Rates/Prices in Jaipur

Here is the table for real estate market rates or prices in Jaipur:-

S.NO.	Location	Residential Apartments (Buy) (Price range per sqft)	Buy Villas (Price range per sqft)	Buy Residential Land (Price range per sqft)
1	Ajmer Road	2251 – 2933	1290 – 5845	120 – 11971
2	BaniPark	5057 – 5696	5080 – 5251	362 – 99999
3	Bapu Nagar	7054 – 8331	NIL	13360 – 16670
4	C SCHEME	7947 – 9436	NIL	3515 – 24999
5	Civil Lines	2268 – 9549	11110	10001 – 13890
6	Durgapura	3180 -9000	7775	6110 – 7775
7	Gopalpura Bypass	2849 – 3527	6820	7775 – 8060
8	Jagatpura	2551 – 3189	2149 – 18271	711 – 8515
9	Kalwar Road	1614 – 1999	1530 – 5415	110 – 99999
10	Malviya Nagar	3100 – 14999	4596 – 11430	3555 – 15555
11	Mansarovar	2634 – 3273	2081 – 10110	335 – 15830
12	Mansarovar Ext.	2464 – 2976	2321 – 6282	2995 – 3236
13	Nirman Nagar	2980 – 3610	2970 – 3500	NIL
14	Niwaru Road	1620 – 1999	NIL	NIL
15	Patrakar Colony	2721 – 3271	3395 – 7159	1775 – 4445
16	Pratap Nagar	855 – 8335	3501 – 7408	345 – 6645
17	Raja Park	4887 – 5356	6945 – 11110	10870 – 12780
18	Shyam Nagar	4461 – 5400	2321 – 29499	3220 – 17270
19	Sikar Road	1715 – 7001	4916	1020 – 8335
20	Sirsi Road	2931 – 3231	2300 – 4780	1280 – 11110
21	Sodala	3359 – 4121	NIL	2390
22	Subhash Nagar	5001 – 6335	NIL	NIL
23	Tilak Nagar	6716 – 7564	NIL	NIL
24	Vaishali Nagar	1441 – 60970	3032 – 13890	766 – 50101

Source – https://www.gharoffice.com/jaipur-city-update

Conclusion

As can be seen, Jaipur, the capital city of Rajasthan, enjoys several advantages that work to its advantage. Jaipur is one of the country’s most desirable places to buy real estate since it offers modern lifestyles without the high expenses of the nation’s major cities, an abundance of outdoor areas, a robust infrastructure, and plenty of work prospects.

Property values in the city are on the rise due to the massive economic growth that is taking place, and investing in the real estate market in Jaipur is likely to result in sizeable profits and significant capital appreciation over the next few years.

 

     FAQs about Real Estate Market in Jaipur

• Is Jaipur an excellent real estate market investment? 

Yes, Jaipur is a great place to invest in the real estate industry. Because of the increase in population, there is a greater demand for residential and commercial real estate markets in Jaipur, which can result in healthy returns for investors.

• Where is the hottest real estate market in India? 

The real estate market in Jaipur is now the hottest in all of India. As a result of significant progress made on industrialization, Jaipur is making substantial strides in real estate.

• What is the future of the real estate market in Jaipur? 

It is anticipated that the real estate market in Jaipur and the rest of Rajasthan will continue its upward trend into the years to come after experiencing consistent expansion throughout the past few years. This expansion is primarily driven by several causes, including increased urbanization, and favourable government policies.

 

So, If You Have Came here for so long, We hope you liked the content and got some valuable information. Also, If you are looking for luxury flats in Jaipur, Checkout Manglam Radiance, a part of Manglam Builders. Contact us to book a free site visit!