Bhiwadi: The rising real estate star

Delhi/NCR
Investors and end users buying property in Bhiwadi have all the reasons to smile, as price appreciation here has become a trend. Once a sleepy town adjoining Manesar, Bhiwadi has emerged as a significant market on the property map of the NCR in the last few years.

With property prices increasing even during the worst phase of the economic slowdown, it is evident that this town is sure to bring prosperity to the buyers who park their hard-earned money in this region.

This is perhaps the main reason that Bhiwadi is hopeful to witness an increased buyer interest during the ongoing festive season.

Analysts watching this market claim that with prices still at a level much lower than almost all other cities in the NCR region, the best is yet to come for people who invest in this town, which is fast developing as a Tier II city with excellent, modern lifestyle options. Santhosh Kumar, CEO (Operations) of JLL, India, says: “Bhiwadi’s infrastructure is improving rapidly with various projects on the anvil. The proposed bullet train and Metro connectivity to Gurgaon will definitely put this city in the limelight.

“The city is presently going through a major shift from being a major industrial hub to a destination with full-fledged real estate viability. Clearly, the buyers are going to see their assets appreciating significantly in the coming years.“

A market which continued to grow even when the rest of the NCR region was registering zero growth and had become stagnant is attracting a lot of buyer interest in the current festive season. The reason behind this increased interest can well be cited as the constant price increase which has not been seen in any other part of the NCR.

The average price for residential properties in Bhiwadi was at Rs 2,250 per sq ft in January-March 2013 quarter and then it appreciated to Rs 2,280 per sq ft in the quarter of April-June 2013.

In the July-September quarter of 2013, the locality prices appreciated to Rs 2,311 per sq ft. In the October-December quarter of 2013, the prices appreciated to Rs 2,490 per sq ft. In the January-March quarter of 2014, the locality prices appreciated to Rs 2,520 per sq ft, while in the AprilJune quarter of 2014, the locality prices appreciated to Rs 2,572 per sq ft.

Anshuman Sharma, director (marketing) of Shilpkar Group, says that the huge price difference between the property prices in Gurgaon and Bhiwadi has shifted the buyers’ interest to this city and festive offers being provided by the developers are an added bounty .

“The growth of this city has been ‘Modified’ following the announcement of the Delhi Mumbai Industrial Corridor and the Dedicated Freight Corridor by the present central government. This region is sure to see a lot of growth in the coming years and those who invest here now will reap huge benefits,“ Sharma said.

The real estate market, which had been more or less holding its breath, has finally opened up again. One of the fastest growing real estate destinations, Bhiwadi has come up as a profitable locality for middle class and salaried people who are on a lookout for investment opportunities.

Bhiwadi is an ideal destination for investors as the property prices are still affordable and expected to see good appreciation in capital values. This town’s real estate market is evolving into an affordable-luxury segment.

Dhirender Gaba, CMD of Fairwealth Group, says: “Investing in Bhiwadi region, with festive offers at hand, will be a smart move. With land scarcity in Delhi, unaffordable prices in Gurgaon and Noida, Bhiwadi looks as a lucrative investment option for those who wish to reside in the NCR. Bhiwadi enjoys excellent connectivity and it is only natural that residen tial and commercial properties are mushrooming here. The reason for this phenomenal growth is the infrastructural development that has taken place here over the past few years.“

With lots of discounts and festive offers to encourage buying, real estate sector in Bhiwadi is registering a major push from buyers who have finally realized the untapped potential of this evolving town.

Source:http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/bhiwadi-the-rising-real-estate-star/78389.html