by
Mr. Santhosh Kumar, JLL India
Neemrana
is one of the fastest growing industrial centres in North India. This area is
advantageously located on NH - 8 in proximity to other industrial sub-markets
like Bhiwadi, Bawal, Khushkhera and Tapukhera.
Situated
in Rajasthan and part of Delhi NCR, Neemrana has attracted a lot of heavy
industrial investments from Japanese manufacturing firms like Nippon, Daikin,
Nissan, NYK Logistics and Mitsui Chemicals.
Neemrana
lies along Phase - I of the Delhi-Mumbai Industrial Corridor. The Rajasthan
State Industrial Development and Investment Corporation (RIICO) has developed
several industrial zones that have led to this sub-market’s emergence as a
major industrial hub.
The
demand for homes from workers employed in these industries is therefore
considerable and constantly rising. This provides Neemrana with all the
attributes of an ideal real estate investment market, offering low entry points
and high appreciation potential.
Developers/promoter
have already acquired large land parcels in Neemrana, while others are actively
seeking such parcels for development. Some residential projects by Anant Raj,
Eldeco and Aashiyana have already been launched.
This
sub-market has especially high potential for integrated township projects and
affordable housing undertakings.
Neemrana
will continue to attract demand from the large existing workforce as well as
additional manpower that will migrate there over the course of the next few years.
The
government of Rajasthan has already notified the 2031 Master Plan for the
Shahjahanpur-Neemrana-Behror Urban Complex.
 |
| Santhosh Kumar, JLL India |
The
planned infrastructural initiatives in this region will further aid the
emergence of this town as a major real estate growth node. There are plans to
set up a cargo airport, with industrial firms from Korea and Taiwan showing
keen interest in establishing their manufacturing facilities in Neemrana.
With
industrial growth acting as a pull factor for this sub-market, real estate
development across Neemrana's various segments will find increasing traction
going forward. The real estate story has just begun for Neemrana.
Residential
prices in this market are still at a nascent stage, averaging at Rs. 2400 to
Rs. 2700 per sq.ft. and give every indication of healthy rise in the future.
This
is a market that is especially appealing for large plot investments, and
long-term investors who value the success formula of its unique combination of
growth drivers.
About the author
Mr. Santhosh Kumar is CEO (Operations) at JLL India
For Media Contact
Mr. Arun
Chitnis
Head
– Corporate Communications & Media Relations
JLL
India, Pune - 411 001.
Tel: 020 30930441 Fax: 020 40196101
Mob:
+91 9657129999
Website:
www.joneslanglasalle.co.in
Blog:
www.joneslanglasalleblog.com/realestatecompass
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