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Read More About Jaipur & it's Real Estate Property Market
- Jaipur is the capital and the largest city of the state of Rajasthan in north India.
- It was founded by Maharaja Sawai Jai Singh II, the ruler of Amber on November 18, 1727 and is named after him.
- The city has an estimated population of approx 6.6mn and is also known as the Pink City of India.
- Jaipur city is divided into six sectors by broad streets approx 111 ft wide, while the urban quarters are further divided y a network of gridded streets.
- Five quarters wrap around the east, south, and west sides of a central palace quarter, with a sixth quarter immediately to the east.
- The Palace quarter houses the famous Hawa Mahal palace complex in addition to gardens and also a small lake.
- Nahargarh Fort, the erstwhile residence of Maharaja Sawai Jai Singh II forms a majestic backdrop on a hill in the northwest corner of the city.
- The famous observatory, Jantar Mantar, a world heritage site, is also located here.
- Jaipur forms part of the golden triangle tourist circuit with Agra and Delhi and is one of the most popular tourist destinations in the state and the country.
POPULAR TOURIST ATTRACTIONS:
- JANTAR MANTAR (Observatory) - Built in the 18th century by Maharaja Sawai Jai Singh II, the huge masonry instruments were used to study the movement of constellations and stars in the sky. The enormous sun-dial here still provides accurate time, subject to daily corrections.
- HAWA MAHAL - Built in 1799, by Maharaja Sawai Pratap Singh, it is the most recognizable monument of Jaipur. The 5 storied stunning semi-octagonal monument having 152 windows with over hanging latticed balconies is a popular showcase of Rajput architecture. Originally designed for the royal ladies to watch and enjoy the processions on the street below, it now houses a well laid out museum.
- JAIGARH FORT - It stands tall on a hilltop, overlooking the palaces and city of Amer. The world’s biggest cannon on wheels- the Jai Ban is positioned here, built during reign of Maharaja Sawai Jaisingh. It has a twenty feet long barrel and pumped in the cannon for a single shot.
- JALMAHAL - Located about 6kms away on the route to Amer, this small palace is set in the middle of Man Sagar Lake. A paved causeway leads to the beautiful water palace.
- AMER - The former capital of the Kachhwahas, the fort is remarkable as much for the majestic grandeur of its surroundings as for its sturdy battlements and beautiful palaces. It is a fine blend of Hindu and Muslim architecture. The solemn dignity of its red sandstone and white marble pavilions, when reflected in the lake at the foot hill, is a sight to behold.
- CITY PALACE AND S.M.S. II MUSEUM - located in the heart of the old City, it occupies about one seventh of the old city area. The palace is a blend of Rajput and Mughal architecture. It houses a seven-storeyed Chandra Mahal in the centre, which affords a fine view of the gardens and the city. Diwan-E-Aam (Hall of public audience) has intricate decorations and collection of manuscripts, Diwan-E-Khas (Hall of private audience) has a marble pawed gallery Mubarak Mahal has a rich collection of costumes and textiles.
DEMOGRAPHICS:
- As of 2011, Jaipur had a population of 3,073,350.
- The estimated population of the Jaipur Metropolitan area is about 3,846,590.
- As per the National Crime Records Bureau (NCRB) report of 2009, Jaipur ranks third highest in the list of 35 Indian cities with a population in excess of 1 million (10 lakh) for crime rates.
- The distance of other major cities from Jaipur is as follows: New Delhi (260 km Via NH8), Mumbai (1,167 km Via NH8), Jodhpur (348 km Via NH8), Jaisalmer (571 km via RJ SH 19 and NH15), Udaipur (421 km Via NH79), Agra (240 km Via NH11).
- Jaipur has a semi-arid climate, receiving over 650 mm (26 in) of rainfall annually but mostly between the months of June and September.
- Temperatures here remain relatively high throughout the year, with the summer months of April to early July having average daily temperatures of around 30 °C (86 °F).
- During the monsoon there are frequent, heavy rains and thunderstorms, though flooding is not common.
- The winter months of November to February are mild and pleasant, with average temperatures ranging from 15–18 °C (59–64 °F) and with little or no humidity though occasional cold waves lead to temperatures near freezing.
- The city was planned according to Indian Vastu Shastra by a Bengali Brahmin architect named Vidyadhar Bhattacharya in 1727.
- The directions of each street and market are east to West and North to South. The Eastern gate is called Suraj (Sun) Pol, while the Western gate is called Chand (Moon) Pol.
- There are three gates facing the East, West, and North and a Northern gate (known as Zorawar Singh gate) which faces toward the ancestral capital of Amber, while many gates face South.
JOBS & EMPLOYMENT OPPORTUNITIES:
- In 2008, Jaipur was ranked 31 among the 50 Emerging Global Outsourcing cities.
- The state and the city pay a substantial focus to the tourism, manufacturing, exports and education sectors.
- A variety of traditional as well as non-traditional items are exported from Rajasthan. These include precious and semiprecious stones, jewellery, ready-made garments, carpets, handicrafts, leather goods, chemicals, minerals, marbles, granite, engineering products etc.
- Jaipur's proximity to the National Capital Region is one of its biggest advantages.
- The nearby markets of Delhi and Gujarat have been both complementing and competing forces.
- Deutsche Bank Group Jaipur, Genpact and Infosys BPO Ltd have their Software Development Centres here.
- One of India’s largest IT SEZs - Mahindra World City - by the Mahindra group and the Rajasthan government’s RIICO is also situated here.
- In addition to IT, this 3,000-acre SEZ also has other active zones to domains like light engineering and textiles among others.
- The SEZ is likely to be the largest job provider for Jaipur once fully developed.
- The World Trade Park will also give a major boost to the city's economy. The city also hosts Gaurav Towers, near the World Trade Park which is also a major economic activity centre.
TRANSPORT & CONNECTIVITY:
- Jaipur is linked via NH- 8 to Delhi and Mumbai, NH-12 to Kota, Baran District and NH-11 to Bikaner and Agra.
- RSRTC operates bus services to all the parts of the state, New Delhi, UP, Haryana, MP, Maharashtra, Punjab and Gujarat.
- Inter-city buses are operated by the Jaipur City Transport Services Limited (JCTSL). The service operates more than 400 regular and low-floor buses.
- The three major bus depots are Vaishali Nagar, Vidyadhar Nagar and Sanganer.
- Jaipur Bus Rapid Transit Service was approved by the government in August 2006.
- The responsibility for managing Jaipur BRTS has been given to JCSTL, a special purpose vehicle formed by Jaipur Development Authority and Jaipur Nagar Nigam in a joint venture.
- The BRTS is expected to cater to the city's growing traffic for the next 20-odd years. Two corridors have been proposed under Phase I: a North-South Corridor from Sikar Road to Tonk Road and an East-West Corridor from Ajmer Road to Delhi Road.
- A section of the North-South Corridor from C-Zone Bypass near Harmada to Pani Pech became operational in 2010.
- Jaipur is the headquarters of the North Western Zone of Indian Railways.
- The city is connected by rail to most major cities including: Alwar, Ahmedabad, Mumbai, Pune, Bangalore, Hyderabad, Kolkata, Coimbatore, Chennai, Nagpur, Gurgaon, Chandigarh, Agra and Jodhpur among others.
- The city is also slated to get a rapid transit rail project - Jaipur Metro.
- Jaipur International Airport is located in the satellite town of Sanganer, 10 km from the city-centre and offers connectivity to major domestic and international destinations.
- The airport handled 2, 55, 704 international and 1,267,876 domestic passengers in 2009–2010.
- Jaipur Airport also provides air cargo services. The up-gradation of airport has offered improved connectivity and wider choice of services to air travelers, boosting international tourism and economic development of the region.
- Every year a large number of people flock to Mecca and Medina for pilgrimage from Sanganer airport.
INFRASTRUCTURE OUTLOOK:
- Rajasthan State Industrial and Investment Corporation (RIICO), a State government agency, has developed 322 industrial areas in Rajasthan.
- RIICO has developed four Agro Food Parks in Kota, Jodhpur, Sriganganagar and Alwar for development of agriculture based industries with an investment of INR 614.1 million (US$ 13.6 million).
- RIICO has established EPIPs at Sitapura in Jaipur, Neemrana in Alwar and Boranada in Jodhpur.
- The EPIP in Jaipur is the largest export park in northern India.
- The proposed Ring Road project launched by Jaipur Development Authority (JDA) will be a seminal project in terms of becoming the arterial road connecting the major areas of Jaipur together.
- RIICO has set up two Special Economic Zones (SEZs) in the State for: Gems and Jewelry in Jaipur, handicrafts in Jodhpur.
- The Mahindra group in tandem with RIICO has established the Mahindra World City (MWC), a multi-product SEZ in Jaipur with an area of 3,000 acres endowed with high quality infrastructure.
- Infosys, Wipro, Deutsche Bank, ICICI Bank, QH Talbros, Connexions, Nagarro Software and Tech Mahindra are some of the big corporate majors with operations at the SEZ.
- The IT zone in the Mahindra World City is spread over 750 acres and is the country’s largest IT SEZ with plug-and-play facilities and robust connectivity.
- The State has developed an industrial estate in Neemrana dedicated for Japanese investors.
- RIICO has so far allotted 317 acre land to 23 Japanese companies in this area, out of which the following 10 companies have started commercial production and 5 companies have started construction work.
- A total investment of INR 23.2bn is expected on the already allotted land and employment opportunities for approx. 4,900 persons.
- For movement of cargo, there are Inland Container Depots at Jaipur, Jodhpur, Bhiwadi, Kota and Bhilwara
- Jaipur has an excellent supply of housing units for workers employed at various industrial centers. There are plans to create integrated townships catering to industrial parks /zones.
- The Jaipur Development Authority (JDA) plans to come up with two knowledge cities in this region.
- The Knowledge City North has been planned at the intersection between the Jaipur-Delhi highway and the Sikar Road near Chaup village.
- Knowledge City - South, will come up near the satellite town of Phagi.
- The JDA will also open up a Science-Tech City near Achrol on the Jaipur-Delhi highway planned on 150 hectares of land.
- Several healthcare projects such as Reliance Medicity and Bombay Hospital will also give a boost to medical tourism in the region and provide extensive employment generation opportunities.
- Jaipur and other cities house a broad array of primary and secondary schools. The State is home to several prestigious academic institutions and more than 1300 technical institutes.
- There is a wide network of railways connecting with Rajasthan with all major cities in India. A new Dedicated Freight Corridor (DFC) extending from Mumbai to Delhi is also planned.
- Jaipur International Airport has direct flights to Dubai, Singapore, Sharjah, Abu Dhabi and Kuwait. The Jaipur airport also contains an air-cargo complex.
REALTY MARKET OVERVIEW:
- Jaipur is likely to become a Mega City by 2025 with a population of 10 million people covering an area of about 800 sq km.
- The realty market of Jaipur has witnessed maximum activity in suburban micro-markets of southern and western Jaipur such as Jagatpura, Tonk Road, Vaishali Nagar, Patrakar Colony among other locations.
- The roads and highways connecting Jaipur with neighboring locations both outside and within Rajasthan, such as Ajmer (Delhi - Mumbai) Road, Tonk Road, Sikar Road, Sirsi Road and Agra Road, have also been witnessing strong demand.
- Reputed developers have hence forayed into these locations encouraged by their future growth potential.
- Jaipur residential real estate market is driven by a 60:40 mix of investors and end users respectively.
- Investors have shown maximum interest in investing in areas developing along areas around the city center including Jagatpura, Tonk Road, Ajmer Road, Sanganer and Patrakar Colony.
- The local consumption of flats is comparatively low and the local investors prefer investing in plots as the business community which forms a major chunk of the local population comprising of marble traders, jewelers etc. view it as an easy exit option with the added advantage of flexibility to use the land if needed.
- The end-users of Jaipur have become more acceptable to the concept of high-rise apartments and have started moving into such projects.
- The investor community consists of investors primarily from Delhi-NCR, UP, Kolkata and NRI investors from Dubai, Muscat, Kuwait and the US.
- The maximum supply and absorption in the Jaipur market falls in the price bracket of between INR 2,000–4,000 psf.
- The most preferred configuration in terms of new launches and absorption for the residential units has been the 3-BHK segment.