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Reasons to invest in Bhiwadi Real Estate

 

The following factors, in the following order, seem to have led to an increasing interest amongst investors with respect to real estate projects in Bhiwadi.

 

Location: Bhiwadi is a town in the east end of Alwar in Rajasthan. Bordering Haryana and Rajasthan, it is around 90 kilometres of Alwar proper, 60 kms from Faridabad, 55 kms from the Indira Gandhi International Airport in Delhi, 40 kms from Gurgaon, and around 200 kms from Jaipur. Although its total area is around 3,347 acres1, an extension of around 3000 acres has already been proposed. As it is around 5kms from National Highway – 8, it is becoming a favourite among real estate developers.

 

Commercial Development: If some media reports are to be believed, this town forms the third largest industrial hub of the subcontinent. V. K Thakore wrote in a paper entitled “Establishing Industries in DMC and NCR” that it is due to the development in towns like these, that several entrepreneurs prefer this region over others2. Several companies already have offices here such as Honda Siel Cars, Hero Honda, Pepsi, Jaguar, Bausch & Lomb, Gillette India, Shree Cements, Ujala Pumps, Ajanta Chemical Industries etc. More companies plan to set operations here for instance, Jay Auto Components Ltd., Oswal Casting Pvt. Ltd., Water Forging Pvt Ltd. etc, to name a few. In fact, Bhiwadi, together with two other areas, namely Chopanki and Khushkhera forms quite an industrial hub extending over 5300 acres and caters to around 2500 industries. Besides industrial plants, proposed commercial projects for retail spaces and office spaces and residential projects, some developers such as Ashiana Housing Ltd. has taken the initiative to develop a housing society for the elderly called Utsav Care Homes.

 

Infrastructural Development: One of the main factors which has been beneficial to real estate development in Bhiwadi is proximity to NH-8. Moreover, several real estate projects are coming along the Alwar Bypass Road such as MVL Coral, MVL Indi Homes, Avalon Royal Park, Avalon Regal Court, Avalon Gardens, to name a few. This four lane mega highway with 200 feet will connect to NH-8. Moreover, the upcoming eight lane Delhi-Mumbai Industrial Corridor (DMIC) which also connects to Gurgaon will pass by Bhiwadi. This besides a Dedicated Freight Corridor (DMC) is part of a mega project worth 90 billion US dollar. Financial and technical aid for the same will also come from Japan. To add to this, a rapid rail transit system has also been proposed. This is likely to enhance connectivity between Delhi, Gurgaon and Bhiwadi.

 

Delhi-Mumbai Industrial Corridor (DMIC) along with a Dedicated Freight Corridor (DMC) is a mega infrastructural project of USD 90 billion with the financial and technical aid from Japan covers the lenght of 1483 lms between Mumbai and Delhi. A rapid rail transit system has also been proposed. This is likely to enhance connectivity between Delhi, Gurgaon and Bhiwadi.

 

Low property rates, investment benefits and potential price appreciation: Bhiwadi is to Gurgaon, what Gurgaon is to Delhi in terms of infrastructural development, economic growth and real estate development. As these factors – infrastructural development, economic growth and realty development – go hand in hand, the real estate market is likely to do favourably well. Currently, the prices of property in Bhiwadi are comparatively less than the value of property in Gurgaon. Moreover, many urban professionals, with a work experience of two to three years and considerably moderate salaries ranging from Rs 3 lakhs to Rs. 5 lakh annually. Moreover, several banks do sanction home loans for various projects in Bhiwadi such as Life Insurance Corporation of India, Allahabad Bank, Deutsche Postbank Home Finance Ltd., Axis Bank, Punjab National Bank etc. Payal Goswamy, a resident of DLF Phase 1 Gurgaon, has recently invested in Krish City in Bhiwadi. According to her, this property transaction meets her budget and also helps in availing tax benefits. She doesn’t plan to live there and has purchased this property purely for investment purposes. However, many industry experts and other investors are optimistic that as property prices in Gurgaon appreciate, Bhiwadi will provide a quality ‘living-in’ option too.

 

1A. K. Tiwari, “Bhiwadi, a gateway of Rajasthan, is a sound alternative to Gurgaon” The Economic Times, http://articles.economictimes.indiatimes.com/2012-05-05/news/31586479_1_delhi-jaipur-highway-ashiana-housing-food-processing as seen on 02 Feb 2013, Time: 18:00

2Omesh Saigal et al, (editors), Problems and Prospects of Industrial Development in a Metropolitan City (Delhi: Mittal Publications, 1994),72

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