Pink City booms
Fondly know as the Pink City, Jaipur is the largest city in Rajasthan. Although known for its rich textiles, world class education and tourist destination, it is now emerging as the next most sought after city in India.
Jaipur is presently going through an all round development. Each sector is emerging strong, thus offering skills, employment, homes and a promising future. To start with, Jaipur completes the third tourist circuit making it the ‘Golden Triangle’ with New Delhi and Agra. Jaipur is extremely well-connected to the rest of the country by rail, road and air. It is strategically located at the confluence of three national highways - NH-8, NH-12 and NH-11. The Jaipur Ajmer Expressway is the busiest national highway in India which connects New Delhi and Mumbai. Jaipur is also part of National Highway Development Project (NHDP), which connects to Chennai, Kolkata, Delhi, and Mumbai. It has an international airport and proposed Jaipur Metro and Rapid Transit Rail project, Ring Road.
Vasundhara Raje, CM, recently quoted "Bangalore (now Bengaluru) is a great place for startups but Jaipur is next place for startups. Incubation center which supports startups is now in the policy of the government of Rajasthan. We are making Rajasthan strong, aggressive and a progressive state.” This gives insight on how Jaipur has become an IT/ITeS hub in the country. Spread over 750 acres, Mahindra World City is one of the largest IT Special Economic Zones (SEZ) in India. MNCs such as the Infosys Ltd, Nucleus Software, Systweak Software, Genpact, Deutsche Bank Group, Metlife, EXL, and The Phone Support, among many have established their offices, BPOs and software development centers here. It is now emerging as an investment destination for both domestic and international investors due to its business friendly policies.
Jaipur also boasts of a wide-range of sectors like tourism, gems and jewelry, luxury textiles and ready-made garments, hand-knotted rugs, food and beverages, rubber-based prosthetics, automobiles and bicycles manufacturing, mining and minerals production, and machinery and machine tools. The State government promotes industrial development in Jaipur through two organizations – the Bureau of Industrial Promotion and the Rajasthan Financial Corporation.
The city also has a number of higher educational institutions, which feed into an increasingly skilled workforce. Major institutions include the IIS University, University of Rajasthan, Malviya National Institute of Technology, Indian Institute of Health Management Research, Jaipur National University, Manipal University, and National Institute of Agricultural Management.
Due to being a tourist hub, Jaipur is equipped with advanced health care facilities and services. There are around 40 hospitals in the city. There is a renowned government cancer hospital known as Bhagwan Mahaveer Cancer Hospital and Research Centre while others are Mahatma Gandhi Hospital, Narayana Multispecialty Hospital, Monilek Hospital & Research Center, Fortis Escorts Hopsital etc.
All this is bound to give the real estate sector in the city a thrust. There is employment generation, accelerated industrialization and speedy commercial development which thus bring in more people. Ajmer Road, Tonk Road, Sirsi Road, Jagatpura and Vaishali Nagar are some of the most promising upcoming localities. What’s more the city offers political and social stability. All this has worked as a catalyst in making the city a lucrative destination for real estate developers as well as investors.