Bhiwadi is located at the East End of Rajasthan in Tijara Tehsil of Alwar district; its sub-region is playing a vital role in the development of Rajasthan. The stretch is spread over 3347 acres of land and 3000 acres area are proposed for extension. The location has a direct connection with the eight-lane road to Gurgaon on the one side and Jaipur on the other side. In addition to connectivity, the other factors, that make it exciting for the investor are low property rates, new infrastructure, low cost of living, low population density and low pollution levels (Knight Frank).
With more than 1,000 small, medium, large, industries, Bhiwadi has emerged as the third largest industrial centre in India (CREDAI). The location is home to big multinational companies such as Orient Craft Hero Honda, Pepsi, Saint Gobain, Federal Moghul and Jaguar Ltd, who have made huge investments in terms of land acquisition and employing thousands of people. This is likely to bolster the demand for residential units in the near future.
Further, the land prices are relatively cheap and the residential apartments are available at less than a quarter of the price in neighbouring Gurgaon.
Ongoing projects Since 2006, many real estate developers such as Parsvnath Developers, Omaxe, Ashiana Housing, MVL Coral, Piyush Group, MTech Developers, Trehan Home Developers have marked their presence in the region. The popular formats prevalent in Bhiwadi are 2 BHK and 3BHK, offering budget houses to the lower and middle income groups.
Most of the ongoing projects in the location are group housing; however, some of the developers are focusing on the integrated township concept.
The projects offer number of facilities and amenities such as health club, jogging trail, spa and lounge, mini theater, swimming pool and gymnasium. Further, the projects also offer 24-hour water supply, 100% electricity backup and modern security features. The location offers facilities similar to that of Gurgaon, but at a lower price.
These projects are currently offered in the price range of R1500 per sq ft to R1800 per sq ft (the average price range), requiring a total investment ranging between R23 lakh to R27 lakh depending on the area of the apartment.
The road ahead Bhiwadi is home to a large number of industrial units, and given its proximity to all major towns of NCR, it is fast emerging as a residential hub. Many real estate players are setting up their projects here. Most of the projects in the area were launched during 2009-11 and are expected to be completed by 2014-15 (KPMG Analysis).
The residential sector is contributing to the growth of Bhiwadi region and its contribution is expected to increase in the near future. It is expected that approximately 9,000-11,500 units of residential units will be available by 2015 to meet the requirements of the burgeoning middle class families.
Being part of the 2021, National Capital Region Plan, Bhiwadi has of late witnessed exponential residential and commercial activity.
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