What is in Bhiwadi for you?

Bhiwadi seems to have just crossed its baby years. Prospective buyers have been constantly asking Magicbricks about the prospects of Bhiwadi on Open House, the discussion forum on Magicbricks. Here’s an overview of the area…

Prices: Budget is a primary determinant. Within Bhiwadi property market, prices of flats are in the range of Rs 10-80 lakh. Size of these flats may range from 400-2000 sq ft. Average prices are in the line of Rs 2,000-3,500 per sq ft. Trend watchers say that with a sizeable proportion of investors realising the potential of this emerging industrial destination, reputed developers have already taken the cue. Therefore, it is not just regular homes that you would find here. Real estate seems to be branching especially with senior homes, theme homes that boast scenic view etc.

Check out all properties in Bhiwadi!

Location advantage: Upcoming locations like Bhiwadi could be strategic. Reason? Mohit Manchanda of NCR Property says, “For many young, first time buyers budget is a constraint. While they may like to invest in city centres, prices do not allow this. Bhiwadi is a good deal considering it is just a little over 40 km from Gurgaon. This is roughly the same distance between two strong established markets of Noida and Gurgaon.”

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Although in most part, Bhiwadi is still industrial, it has potential. “Bhiwadi is witnessing a shift from its erstwhile image as a mere industrial area to a destination with full-fledged real estate viability. Being a part of the Delhi-Mumbai Industrial Corridor (DMIC) Bhiwadi is now acknowledged as an investment zone. Still primarily driven by its industrial sector, it encompasses the manufacturing centres of Chopanki, Khushkhera and Sare Khurd. There is considerable additional industrial development activity planned by the Rajasthan State Industrial Development and Investment Corporation,” says Santhosh Kumar, CEO- Operations at Jones Lang La Salle.

Talking about upcoming developments, Zaheer Naaz, broker at Right Properties says, “Commercial of Bhiwadi is also noteworthy. People follow jobs. Commerce follows people is right in the case of Bhiwadi. Once a sleepy hamlet, it is appreciable the way there has been growth in terms of retail. Malls along the Bhiwadi-Alwar Highway and within the city suggest that Bhiwadi is at a nascent stage but may be a hotspot in future.”

Kumar says, “Realising the potential of this corridor, the government is working towards improving the social and civic infrastructure. Bhiwadi’s infrastructure is improving rapidly, with various projects on the anvil. The proposed Bullet train and Metro connectivity will further enhance Bhiwadi’s real estate investment attractiveness quotient. The annualised appreciation is in the tune of 5-10 per cent, which is consistent with the overall market dynamics of NCR. As a result, Bhiwadi is firmly on property investors’ radar.”

Pain areas: Ashok Meghnani, an investor in Bhiwadi says, “Public transport, waste water disposal, metro up to Bhiwadi, hospitals, educational institutes, service road on SH-25 and security are the main areas of concern. Since investors in the region are increasing, we are looking to get the basics right.”

Another Magicbricks reader, Ravi Kiran, points out, “The condition of the common effluent and sewage treatment plant calls for monitoring. Some of these treatment plants release waste very close to residential areas even in prime locations such as Bhagat Singh Colony. In the long run, this may affect the ground water. Industrial sewage needs to be checked.”

Real estate enthusiasts like Naaz point out, “Bhiwadi along with two other areas collectively form the Rajasthan industrial triplets - Khushkhera and Neemrana have good investment potential. But the real challenge is to make it more end-user friendly.”

Source: http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/what-is-in-bhiwadi-for-you/80178.html