Bhiwadi has been developed as a prominent industrial hub close to Delhi-NCR and its affordable tag and infrastructure has made it a chosen destination among realty investors.
If you talk to any real estate expert on favoured investment destinations in North India, Bhiwadi certainly makes it to the list. The town in Rajasthan has been developed as a prominent industrial hub close to Delhi-NCR and its affordable tag and infrastructure has made it a chosen destination among realty investors.
Bhiwadi’s industrial tag is set to get further boost with the government likely to select it as the location for the country’s first cargo airport. Experts feel Bhiwadi stands to gain if the decision becomes a reality with more investments coming in the industrial town, thus driving the real estate market there. “The cargo airport will tie in well with the upcoming Delhi-Mumbai Industrial Corridor and with the industrial towns of Bhiwadi and Neemrana and other initiatives around Manesar, a cargo airport on the important trade route of NH-8 will work well. The airport is likely to turn Bhiwadi into the hub of cargo and logistics parks,” Rohan Sharma, associate director – research & real estate intelligence service, JLL India said.
So, what is so attractive about Bhiwadi realty? Bhiwadi’s industrial town status, affordable price proximity to Delhi-NCR and more importantly to millennium city Gurgaon works well for investors. Bhiwadi is one of the rapidly growing industrial locations of Rajasthan and located at a prime spot, which makes it a favourable destination for the realty market. The region is an industrial base and has full-fledged real estate viability, with huge scope for future growth and development.
“With the promise of good employment opportunities, a better standard of living and good connectivity at affordable prices, Bhiwadi has attracted the attention of various reputed developers primarily offering affordable housing projects. Bhiwadi is slowly climbing on property investors’ radar with a strong promise of great return on the investment. A few years down the line, this region will certainly be a strong name to reckon with amongst the strongest names in the NCR region,” Ankur Dhawan, chief business officer – PropTiger.com said.
“With residential prices in the range of Rs 2500-3000 per sq ft range, Bhiwadi is established industrial town with low-cost housing at the heart of its development being undertaken by private developers,” Sharma elaborated on the affordability factor.
On investor demand front, Bhiwadi has limited interest with rest coming from industrial workers and personnel working in the town. The industrial town needs good connectivity, infrastructure development in terms of power to further revive the real estate sector. It is not yet a viable commercial destination and economic drivers of growth here are limited to industrial units.
How is it in comparison to Sohna and Gurgaon? Unlike Sohna, Bhiwadi does not compete in real estate demand with Gurgaon as it has self driven economy of Industrial units. “Investors based out of NCR needs to view Bhiwadi as a low entry opportunity (Rs 30-40 lakh) which can give significant returns once its infrastructure improves and connectivity with Gurgaon improves. Gurgaon in comparison is a high cost location where average investment starts above Rs 80 Lakh,” Dhawan added.