The city of Jaipur is the capital of Rajasthan state and a major tourism centre in northern India. The city is barely three hundred and forty kilometres away from the national capital New Delhi and is well connected with it via road. Therefore it has received the benefit of development that no other tourist spots have. It is also because of the vicinity to Delhi that Jaipur has also evolved as a major destination for property investment. There are a number of factors that have gone into the growth of property in Jaipur. Now those factors have started to manifest themselves in the revival growth as well.
How did real estate emerge in Jaipur?
The real estate business is relatively new in Jaipur. The ‘Pink City’ has relied on tourism for a long time and the infrastructure of the city also has been created to support it. Jaipur is also home to numerous educational institutions and the city produces thousands of graduates annually. Not all of them used to settle in the city earlier. A major chunk moved out to the NCR region in search of employment prospects. It was in the last decade that the local government decided to do something about the local brain drain. It invited companies to establish their offices in the city. Special Economic Zones and IT Parks have been set up in the city to allow the new businesses to establish themselves with ease and convenience. This led to the establishment of IT services and other businesses in the city. Engineering services and consulting followed. Soon enough, the city had an alternate economy that was completely independent of tourism. The rise in demand for apartments and independent houses for sale in Jaipur rose as a result. This demand has taken ground now. However, it was not before the recession of the property markets which shaped the property business in the city.
During the time of recession, the property sales in the prime territories slipped. The builders started searching for options to offset their losses. They settled for secondary territories for new investment to ensure that the portfolio was diverse. As a result, property development increased in Jaipur. There was sufficient latent demand in the city. However, this demand was too high and the investment quantum did not manage to fulfil it. Those were times when the property markets were slow and the house sales were less. This is the reason why the property business in the city did not quite take off.
But the situation became conducive by the time year 2015 arrived. The market conditions had improved along with consumer sentiments. The RBI also had reduced the interest rates that allowed the property businesses to flourish.
How to search for houses in Jaipur?
Anyone searching for properties in Jaipur can now use property portal housing.com. The portal is known to be one of the most prominent resources to search for houses in the city. Anyone from anywhere can log into it and start searching for houses for sale in Jaipur using the locality map and other features.
All the features offered by housing.com are the ones that help consumers find the best houses of their choice.
Property portal housing.com allows end-users to find the best houses using data analysis and technology innovation.