Bhiwadi, touted as a gateway to Rajasthan and bordering Haryana, is a major industrial growth centre in the NCR. With already more than 2500 operational industries, it is attracting more and more industrialists from Delhi, Gurgaon, Punjab and other parts of the country.
Gone are the days when Bhiwadi that falls in Alwar district was looked at as a sleepy hamlet. It is bustling with a lot of real estate activity in both residential and commercial segments. One of the most significant reasons that attracted property developers is its strategic location advantages. It is situated close to Delhi and Gurgaon, both important real estate hubs of the country. It is well connected to Delhi by National Highway and is quite close to Indira Gandhi International Airport as well.
Manesar, which lies between Gurgoan and Bhiwadi, is another major industrial town with IT parks and proposed SEZs (Special Economic Zones). Since, prices in Gurgaon property market are extremely high, service class people are left with no choice but to go to nearby regions like Manesar and Bhiwadi. Thus, to accommodate the housing needs of professionals working in Gurgaon, Bhiwadi realty is being developed rapidly. Further, with so many people settled in both Bhiwadi and Manesar, Bhiwadi is successful in pulling industries to the city.
In the given industrial scenario, population of Bhiwadi is expected to double in few years. In order to meet the existing demand and accommodate the growing population, residential property bhiwadi needs to be developed rapidly. To initiate this, various private property builders like Ashiana, M-tech, Piyush group, Kajaria, MVL, Bhaskar BDI along with leading developers like Parsvnath, Omaxe, etc. are developing integrated townships. These group housing projects are being developed along the Alwar-Bhiwadi Road, the nearest and most affordable destination.
The price appreciation has already begun in residential segment of the city but is more discernible in retail arena. Citing the reason for sudden real estate development in Bhiwadi, property consultants attribute it to:
-The Government's plan to develop Mumbai-Delhi industrial corridor where Bhiwadi will fall under phase I.
-Another reason is believed to be the entry of several new multi-national companies in and around Bhiwadi that has acted as a catalyst.
With the development of real estate in Gurgaon few years back, Bhiwadi started gaining visibility. And this lead to a tremendous increase in property prices as the land that cost Rs 20 lakhs/acre then jumped to Rs 1 crore/acre and is sure to double. The continuous growth of industries has naturally accelerated the demand for housing in the city, thus, giving a boost to its residential sector. Despite being a small town, Bhiwadi offers huge return on investments in commercial property due to its strategic location advantage. In retails segment, it has emerged as a bustling industrial township with at least 25, 000 professionals travelling from Delhi, Gurgaon and Rewari on a regular basis to work in around 2,500 small, medium and large industries of Bhiwadi.
It is believed that town infrastructure would get a further boost with planned and aggressive initiatives by the government. Both property investors and property developers look positive about the future of Bhiwadi as the proposal for railway station and bypass has been sanctioned. Within 2-4 years, Bhiwadi will be connected to Rewari by a broad gauge rail link and a bypass will connect NH8 and Sohna Road. Moreover, the state government has allowed pumping in of Rs 4 crores to develop a commercial complex in the city.
A focal point between all-important existing and upcoming industrial towns of Manesar, Dharuhera, Neemrana and others, Bhiwadi is on a fast track. properties bhiwadi offers great investment opportunities by being a promising realty destination.
This comment has been removed by the author.
ReplyDelete