How Jaipur Metro can be the reason for purchasing/ investing in flats or Apartments in Jaipur

According to the Forbes magazine Jaipur will be a mega metropolitan city by the year 2025 and we will be the one who will witness the same. As such there will be a lot of requirement for revamping the infrastructure to accommodate this change. One such development that is taking place in the city of Jaipur is the Metro rail project and is expected to be operational from March, 2015. Rapid and safe transit of people in key areas of the city is the key objective of this project. And therefore, the builders of Jaipur have already started development along the rail path and one can own a residence near to a metro station.

Advantages of residing / investing near a metro station

1. The first two phases of Jaipur metro touches few most popular and commercial centres of Jaipur. At the same time it connects or passes through the important spots like airport, railway station (Jaipur Junction) and the Central Bus Stand (Sindhi Camp).
2. The construction of Jaipur Metro is in full swing. That is, the East to West corridor is already constructed and the test phase is already over. This path will be fully functional in early 2015. It is also expected that the North to South Corridor will also be on track by 2017.
3. Though currently the project looks an early bird for the city, but with the increasing traffic in the city the areas with higher proximity of development like Sitapura and Durgapura will be freed from traffic at some time and will be more approachable.
4. Out of the walled city the city can only be expanded in the outer areas like Mansarovar Extension, Sitapura, etc. The metro rail is designed in a way that it is already connecting these areas. This can be clearly seen on the map.

As we know that after Delhi NCR, Jaipur is the most sought destination. Also, Jaipur is also having a strategic advantage by being on the map of Industrial Corridor after Delhi and Mumbai. Phulerais made the nodal point for routing traffic from Jaipur to the entire corridor. And due to this more investment can be done in the outer and Suburban areas of Jaipur. On an average, the cost per square foot in Jaipur is ranging from Rs. 2,000 to Rs. 3,000. At the same time the growth rate in these rates is ranging from 4% to 7% quarter on quarter, especially in the areas of Sanganer, Durgapura, Patrakar Colony (Mansarovar), etc.

The Jaipur Development Authority has already started development of infrastructure in this area including Water Supply and 24*7 electricity; and as a result it is expected that the property prices in these suburban areas are expected to rise sharply in the coming three years. The other key features of Jaipur like less pollution and peacefulness is also attracting more people to work or investment. Therefore, according to most of the real estate developers investing in flats in Jaipur are a great deal if done right now looking at the prospects in next three years. Currently the prices are not very high for property investment in Jaipur, but are expected to increase due to the well connected transit system (Jaipur Metro) and few other resources. But, if the growth in infrastructure continued at the same pace, Jaipur will be the next big city or a Commercial plus industrial town after Delhi NCR where the property prices will be sky rocketing which we have already experienced with the cities like Gurgaon in past.