Jaipur

Jaipur has always ranked high on the Indian and foreign tourist's circuit. Real estate in the city has flourished not only because of its proximity to Delhi, but also for the rich cultural treat it offers to visitors. However, there is only a little IT industry has done for the city. Right now only Genpact has its facility in Jaipur. A number of announcements are made day in and day out but hardly any major IT company has started its operations in the city. The real estate developers have put a lot of money on stake in Jaipur Real Estate. As per estimates, Rs 1,50,000 crore will be invested by the developers in Jaipur's real estate market, in the next five years. Every big and small real estate developer is vying for land in Jaipur eyeing the prospects of its real estate industry. The residential as well as commercial property values are witnessing an all-time high. However, the IT industry--which has been seen as the biggest growth driver of Jaipur's real estate--is unfound. 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. http://www.streetdirectory.com/travel_guide/64588/india_properties/jaipur_real_estate_much_ado_ab out_nothing.html

As the BPO industry has registered $8.4 billion worth exports in FY 2006-07, up 35% from the previous year, this is indeed a carnival for small cities like Jaipur. Going further, BPO major Genpact has already established a huge facility in the city and firms like Infosys and Wipro have also

articulated their interest in instituting their offices in Jaipur. The appeal The principal advantage with Jaipur properties is that of "cost". As commercial property prices in Jaipur are far less in comparison with cities like Delhi, Bangalore and Mumbai, a business organization can significantly cut down on its operating cost. Also the city offers good connectivity via roads, railways and air. Furthermore the availability of land is not a problem in Jaipur, and unlike the big cities, a firm can get hold of large chunks of land in the prime locations to set up their offices and development facilities. BPO brigade - a boom Both local and international industry biggies have netted BPO facilities in comparatively in smaller cities all over the country in the past few months, such as Mangalore, Jaipur, Coimbatore and Vishakapatnam. Apart from 15% cost advantage, tier II cities have an unexploited real estate market, which means lower direct costs, and availability of cheaper local labor, says industry experts. While roads may be less congested in tier II cities, other types of infrastructure may be lacking. But despite the disadvantages small cities like Jaipur may have professionals from the real estate industry believes that the commercial properties in Jaipur are likely to undergo a boom time as more and more business houses plan to set their base in the pink city. For more details on Jaipur Property, log on to magicbricks.com

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