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Investment Opportunities Along the Delhi-Jaipur Belt 06/08/2014
Rohan Sharma
Jones Lang LaSalle India

The 250-kilometer stretch between Delhi and Jaipur has become a hotbed for real estate development, with areas like Manesar, Dharuhera, Bhiwadi, Neemrana, Kotputli and Alwar becoming the new catchwords for investors.

Highways connecting various towns and cities serve a dual purpose. Not only do they provide good connectivity and accessibility, they also serve as nodes which spur development. Typically, the portions of the highways which abut cities lying on these routes witness hectic development activity right from the time projects are first announced. This activity gather momentum as the highway nears completion. The NH-8 connecting Delhi to Jaipur has seen a similar growth trajectory.

Gurgaon, being closer to Delhi and part of NCR, has seen spiralling growth in real estate development. With existing road infrastructure in the form of NH-8 and the Gurgaon city exhausting its land resources nearer the main city, the city boundaries have been pushed further down NH-8. The residential real estate sector has seen exponential growth along this route, with residential projects underway even on the upcoming Dwarka-Gurgaon expressway which runs nearly parallel to the NH-8 and meets it near Sector 82.

Prominent township projects are coming up on NH-8 beyond the second toll plaza. The major developers active there include Vatika (Vatika City Next), DLF (GardenCity) and Orris Infrastructure. Other major developers on this stretch are Godrej, Emaar MGF, 3C, Ansal API and Spaze, among others.

Manesar, Dharuhera and Bhiwadi are satellite cities of Gurgaon and have a thriving industrial sector. Manesar is also witnessing commercial developments and residential projects by ABW, DLF, SARE and Sidharatha, which have seen good demand on account of their affordability quotient. Dharuhera has developers like Parsvnath, Vipul, Bestech, Vardhman, M2K, Ferrous Infrastructure and Dwarkadhis, among others.

Bhiwadi is seeing residential developments by the likes of Omaxe, Ashiana Group, BDI, Star Raison Landmark, MVL, Cosmos Infra, Avalon, Krish infrastructure and Piyush Group among other small players that do not have significant development credentials.

Neemrana has attracted heavy industrial investment from Japanese manufacturing firms. Currently, a 1,200-acre Japanese Zone is 70% operational, with heavy investment in manufacturing facilities by firms such as Daikin, Mitsui Chemicals, Nissan, Nippon and NYK Logistics. The Japan External Trade Organization and the Export Promotion Industrial Park, spread over 3,500 acres, developed by the Rajasthan State Industrial Development and Investment Corporation (RIICO) in several phases, are other industrial zones that have led to this sub-marketís emergence as a major industrial hub. Some residential projects by Ashiana, Eldeco and Anant Raj have already been launched. This sub-market has tremendous potential for integrated township projects and low-cost, affordable housing.

Kotputli in Rajasthan has developments by Eklavya Housing and is largely defined by plotted development projects by a host of small, individual developers. There are a number of developments on the outskirts of Alwar, especially on the Bhiwadi-Alwar Bypass and outskirts of the city. Ansals are undertaking a residential project, while other projects are by small, individual developers.
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