Residential Properties in Jaipur on Fire

By: George Gonigal

FIRE Capital Fund Investments Mauritius, recently signed a MoU with the Government of Rajasthan for constructing 2000 acres integrated township at Jaipur, on the Jaipur-Ajmer highway.

Not only the project will cater to the needs and requirements of modern living in place, it is expected to generate employment for more than 12,000 people in Jaipur.

Jaipur residential real estate is witnessing huge investments of similar kind by way of various residential projects in the offing.

Growth Drivers

According to Media Reports, IT sector is estimated to generate about 40 per cent of the additional employment in smaller towns like Jaipur.

Corporate requirement would lead to demand for quality housing and infrastructure to uphold potential escalation. Commercial real estate development in Jaipur is a big draw for investments in residential real estate sector.

A number of real estate developers are launching residential projects to meet the future demands of the IT sector employees in Jaipur.

Upcoming Projects

Along with FIRE Capital Fund Investments Mauritius township project, Fishman Holdings' Indian real estate development subsidiary, Mondon Investments Ltd., has bought a $108 million, 600-acre area in Jaipur for developing a township.

The project will include residences, commercial space, offices, and high-tech space spread over four million square meters.

Cashing on the current splurge in Jaipur residential real estate, many real estate developers likes Omaxe, Suncity, DLF, MGF, Vatika, Ansal API, Parsvnath, Narayan group, Narvik Nirman, have already announced their township projects in Jaipur.

Future Outlook

Recently, Omaxe Ltd announced its foray into development of Special Economic Zone (SEZ) by signing MoU with the Government of Rajasthan to develop a multi product SEZ in District Alwar of Rajasthan spread over the area of 5000 hectare.

With Jaipur all set to become an IT destination, the Jaipur residential real estate market is attracting hefty investments, gazing future demand.

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