Bhiwadi, which is developing at a rapid clip, is being talked about as the hidden gem for real estate investment in the NCR. This is mostly because of its superb location. The major developments that have been proposed for this region include a dedicated freight corridor, the ambitious Delhi-Mumbai Industrial Corridor, railway networks, a cyber city, a medi-city, a knowledge city, an entertainment city, SEZs, a World Trade City, a bio-diversity park, and an airport.
Over the years, Bhiwadi has developed into a place that answers the call for the affordable-housing demand of the people of the NCR.
The opportunity thrown by DMIC will make the whole region an economic and industrial hub. One of the major attractions of this area is the Tapukara industrial area, which is located on Bhiwadi-Alwar Road. The road has the status of a national highway, called NH-71B.
Developers and promoters have acquired land on both sides of this road and have launched projects with plotted developments and group-housing projects. The availability of plots is comparatively less in Bhiwadi, compared to apartments and independent floors. The developments along NH-8 have spread as far as Alwar, and to places like Manesar and Dharuhera, with Bhiwadi lying in between. These areas are also gaining from the fact that the DMIC is coming up in the vicinity.
This corridor will attract industries like automobile, packaging, IT, logistics, etc. This has opened up a lot of opportunities for the real estate sector and many developers have started projects in these areas to meet the demand.
Developers and promoters were the first to sniff an opportunity on this whole stretch and have moved to places as far as Jaipur. For people in the Delhi NCR, who have been looking for longterm investment opportunities, these places are emerging as the best options. Apart from the investment angle, people from the Delhi NCR are increasingly looking for getaway homes which these places are also offering.
Bhiwadi has been identified as the next boom town, as this sub-region is playing a major role in the economic development of Rajasthan. The government of Rajasthan has recently identified and designated land for constructing a Global City over 40,000 acres in the Bhiwadi-Neemrana-Behror region. Once complete, this zone will house one million people, according to one estimate. The cyber city, medi-city, knowledge city, entertainment city, SEZs, World Trade City, bio-diversity park have been planned here.
Bhiwadi has around 2,500 tiny, small, medium, and large industries, including MNCs, manufacturing various types of products. Its current population is 104,883, compared to only 33,831 in 2001 – more than three-fold increase. Though Bhiwadi started off as an industrial area, it has become a large residential town in the last few years.
Residential Property is available in the range of Rs 2,500-3,200 per sq ft. Major realty players here like Ashiyana Housing, VBHC, Kajaria, Omaxe, Avlon, etc, have already bought land and are developing their projects. Ashiyana Housing has delivered projects like Ashiyana Aangan, Ashiyana Rangoli, Ashiyana Utsav, etc.
Ashiana Housing has recently launched its largest township project, Ashiana Town, in Thara, Bhiwadi. With a total saleable area of nearly 39 lakh sq ft, Ashiana Town is spread over 51.45 acres, and located at the prime location off Alwar Bypass Road. Well planned and equipped with facilities and features for a modern comfortable living, this township offers 4,000 units.
Vishal Gupta, MD of Ashiana Housing Ltd, says: “We are very pleased to contribute yet again in the development of Bhiwadi and announce our new township. The project is very much in line with our strategy of building quality, affordable projects catering to the needs of the middle-income group. The project will be modelled on the same successful formula as our other projects, Ashiana Rangol, Ashiana Angan, etc, which come with worldclass infrastructure.”
Aqasia Homes Limited has launched Aqasia Enclave, a gated community with landscaped greens on 25 acres in Bhiwadi’s Sector 106 A on Alwar Bypass Road. The project offers plots, villas, service apartments, and independent floors. The project will also have commercial, entertainment, shopping, and recreational facilities.
Vinit Nanda, MD of Aqasia Homes Ltd, says: “The Real Estate development in Bhiwadi is driven by the fact that it is one of the major nodes of the dedicated freight corridor and the DMIC. Industries here have catapulted the demand for housing, turning Bhiwadi into a top destination for affordable housing, resort-like luxury residences, as well as integrated townships.”
Avalon group is coming up with a new residential project, Avalon Rosewood, in Bhiwadi. Located on a fourlane highway (the 200feet-wide Alwar Bypass Road) and only 40 minutes away from the IGI airport, the project is being constructed at an estimated cost of Rs 300 crore, with 1,350 apartments spread over 17 acres.
Rosewood project will have around 23 towers with ground plus 14 storey configuration, offering 2-, 3- and 4BHK units. It will have 900 flats in the 2BHK segment, 360 flats in the 3BHK segment and 90 flats in the 4BHK segment, all designed by Sikka Developers. The base price is around Rs 2,850 per sq ft, and onwards. The company plans to finish the construction in around four years, a spokesman of the firm said.
Ajay Aggarwal, director of Avalon Group says: “With prices in the NCR region going out of reach, salaried middle-class people can look for options in Bhiwadi-Dharuhera for investment in the range of Rs 12-40 lakh.”