Jaipurs Retail Real Estate Under Transformation

By: George Gonigal

The international tourist destination of Jaipur is the subject of retail boom at least for the past couple of years and the shopping mall culture has set a strong foothold in the city.

A slew of mall projects are under progress at different parts of the city, and this has certainly set Jaipur properties on fire. For instance, Mahima Real Estate, the pioneer in mall concept in Jaipur, is now coming up with two more malls. The group had launched Crystal Mall, spread in 1-lakh sq. ft area in Bani Park in 2003.

Meanwhile, the new projects comprise a mega 5-lakh sq. ft Crystal Palm Mall with 3-screen multiplex in C-scheme, one of the posh areas of Jaipur and another one is Crystal Court, a 3 lakh sq. ft Mall at Malviya Nagar.

MGF is launching The Metropolitan on Sardar Patel Road. It is going to be the embodiment of state-of-the-art retail insurgency, with entertainment, specialty restaurants; kids playing zone, etc catering to an array of consumer segment.

Baked by a strong heritage Jaipur offers a feast for the world travelers. Popularly known as the 'Pink City', Jaipur is one of the most famous tourist spots. The number of tourists visiting Jaipur soars during the peek season so much, that it leads to dearth of hotel rooms, and thus there is tremendous scope for hospitality in the city.

Taking all this into consideration there is an incredible scope for building new hotels. Mahima Real Estate is also planning 3-4 star hotels in their malls. This is leading to a hotel boom in the city, which is riding the commercial real estate in Jaipur along with the mall custom.

With mall culture on boom and improvement in infrastructural facilities Jaipur is surely going to be one of the hot investment destinations in the Rajasthan-Delhi-Haryana-Uttar Pradesh belt.

For more details on Jaipur Property, log on to magicbricks.com

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