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Investors look westwards to Jodhpur

Catherine Deshayes

Following bomb blasts in the state capital of Jaipur, the property market has fallen, and investors are looking westwards to Jodhpur.

The bomb blasts, which ripped Jaipur apart in May of this year, has steered local and international investors to Jodhpur, in Rajasthan.

As well as this, the strong Marwari bond is fuelling the real estate market in the city also known as ‘Sun City.'

Blue Earth Consultants CMD Surendra Kumar Rajpurohit, said, "The affluent Marwari business community from across the globe is investing heavily in their hometown.

"Marwaris may run their business anywhere in the world but they don't leave their roots. They prefer to have a base in their home town.

"This has created a big demand for prime properties in the city which is expanding horizontally on all sides.

"Apart from that, a large expatriate population working with the armed forces, railways and corporates form the biggest customer base. The simplicity and easy-life of the city never let them off post-retirement," Mr Rajpurohit added.

Driven by the local residents' wish to live outside the congested walled city, the periphery of Jodhpur is witnessing a real estate boom.

The NH-65 connecting Pali-Ahmedabad and the state highway connecting Barmer and Pal Link Road is the hub of construction activities, and developers are submitting development plans.

One large residential project is Ashapurna Valley, located on Jodhpur-Pali Road, which has 1,100 independent residential units.

Mr Rajpuohit said, "Rates of independent plots in city limits are high due to paucity of open land areas. The rates have quadrupled over the last five years but in the last few months, the market has stabilised a bit.

"Being an army and airforce base, Jodhpur offers a safe and secure residential option," he added.

For a listing of properties for sale in India, visit www.themovechannel.com/property/India/