Changing Skyline of Jodhpur

Jodhpur, the second largest as well as the most important city of Indian state of Rajasthan is attracting a multitude of investors and builders across the country. The credit goes to a property boom taking place along the periphery of Jodhpur which has energized the market in an excellent way.

Envisaging an array of options for real estate development, many prominent builders are fast coming up to change the skyline of Jodhpur. Of the real estate projects in Jodhpur, the high-end ones will come from Ashapurna Buildcon, Parsvnath, Ansal-API, and Omaxe.

Residential Property in Jodhpur

Considering the growing demand for quality lifestyle and a slew of proposed residential projects, Jodhpur is now gaining distinction as another significant destination for property investments. Jodhpur has a large population working with armed forces, railways, and corporates which undoubtedly form the largest customer base here. They all together have created a big demand for prime properties in Jodhpur.

Rates for residential properties in Jodhpur have quadrupled over the past three years. This clearly speaks of the phenomenal potential of the city. A sharp appreciation in prices has taken place in residential colonies in southern parts of Jodhpur like Subash Nagar, Pal Link Road, Prem Nagar, and Arvind Nagar.

A 200 yard plot in Subash Nagar is no less than Rs 12 lakh. Surprisingly, the rate for the same used to be Rs 3 lakh in 2004. The similar trends are being witnessed by other developed residential colonies of Jodhpur. Only the developing areas near the national highway offers properties at affordable rates. Indeed, most housing projects are coming up on NH-65 connecting Pali – Ahmedabad and the state highway connecting Barmer, 10-20 km from the main city.

Contrary to this, property rates in posh colonies of Jodhpur are going through the roof. For example, the price of an independent plot in Sardarpur range from Rs 3500 – Rs 4200 per sq ft. as compared to Rs 2800 per sq ft. in most other locations around the city.

Retail market in Jodhpur

Rates of commercial property in Jodhpur as well as the city’s retail industry is seeing huge appreciation on the back of huge corporate demand for office and retail space within city limits as well as the outskirts. Changing consumption patterns are paving the way for exclusive shopping malls and cineplexes in Jodhpur.

Once regarded as a part of the city’s heritage, landmarks like Darpan and Olympic Cinema Halls are being transformed into malls and multiplexes. Major realty players such as Ansal API and Tulip in collaboration with Jodhpur royalty, Khalsa Developers and Ashapurna will soon come up with mega malls to make a killing from the ongoing retail boom.

Jodhpur will soon see an exclusive theme mall ‘Art at Heart’ to be developed with the investment of Rs 100 crore and spread across 1 lakh sq feet. It will feature the rich heritage of Marwar region.

Upcoming real estate projects in Jodhpur

Satra Galleria: Satra Properties India Ltd has signed a Memorandum of Understanding for the development of a prime retail property in Jodhpur which would be known as “Satra Galleria”. The mall will be one of the largest retail and entertainment complexes in Jodhpur and will come up on Nayi Sadak Road, Jodhpur.

A ‘Luxury’ Hotel: Parsvnath Developers Ltd is drawing the plans to build a 5-star hotel and resort in Jodhpur by the end of 2007.

Ansals: Ansals has proposed to develop a palace hotel in Jodhpur which will be operated under the luxury segment.

Multiplex chain Inox Leisure Ltd is planning to add new properties in Jodhpur in the coming months.