Property in Rajasthan
Rajasthan is one of the rapidly developing states of the country that has a rich cultural heritage. It has some of most popular and upcoming cities like Alwar, Ajmer, Jaipur and Bikaner, etc. The place is well-known for its aesthetic quality of tradition, colorful culture, rich architectural developments, traditional block-prints and beautiful handicrafts, etc. The real estate in Rajasthan is a good investment choice as the city offers a slew of options in residential and commercial properties. Fairly competitive property prices, a horde of options, immense business potential are some of the key triggers that act as catalysts in fueling the real estate growth of the city.
Rajasthan is one of the most populated states of the country and in order to cater to this increasing population, the demand of property will also be on a growth. Some of the prime residential areas of Rajasthan are Jaipur, Udaipur, Jaisalmer, Ajmer and Amber. Jaipur, the capital city, is a shining spot for real estate investments.
There are several reasons for making investments in Rajasthan. A few of them are:
• Stable political scenario: The state has favorable political conditions which makes it one of the most desirable investment destinations. The buyers and investors find it beneficial to make an investment here as there are no political issues or legal hassles to worry about. Its investor-friendly environment and full government support leads to efficient and smooth purchase procedure.
• Low Establishment Cost: The establishment cost of developing any property in Rajasthan is very low as compared to other places. And because of the low costs, it is beneficial to invest in property over here. In places like Jaipur and other major cities, one can generate considerable amount of revenue by leasing or renting out the property.
• International Airport: One of the major international airports is stationed in Jaipur and promotes foreign investments leading to an increase in the same.
• 60% Tourist Traffic: It has the maximum percentage of tourist traffic. Its rich cultural heritage and extensive history makes it one of the major tourist destinations and subsequently gives a boost to foreign investment. Its iconic landmarks and thousands of years old historic and cultural auras act as a magnet in attracting tourists and visitors from across the globe.
• You are not required to pay any property tax for the investments made here and the Stamp Duty levied is also very nominal as compared to other states.
Thus, as the state is enriched with several favorable factors for property investments, it is likely to have a considerable number of foreign and domestic realty investments. Some of the remarkable residential properties in Rajasthan are Eldeco Hillside, Nimai Hills, etc.