Bhiwadi Real Estate Market Struggles: Poor Infrastructure Hampers Growth
The real estate market in Bhiwadi has seen a significant decline due to poor infrastructure, rising pollution, and high land costs. Buyers are increasingly turning to Jaipur, where the market is thriving.
Bhiwadi Real EstateReal Estate DeclinePoor InfrastructureJaipur Real EstateHousing DemandReal Estate NewsDec 01, 2024
In contrast, the construction of new residential units in Jaipur has seen a 37% increase in 2024 compared to the same period in 2019, reflecting robust demand. PropEquity, a real estate research organization, reported that Jaipur added 4,742 housing units in January to October 2019, which increased to 6,475 units in the same period in 2024.
Samir Jasuja, founder and CEO of PropEquity, noted, “Bhiwadi has seen a considerable reduction in new housing supply over the past 5-6 years due to excess supply created over the last decade.” However, local industry representatives in Bhiwadi argue that if the infrastructure had matched the industrial development, the capacity to add new supply would have been better.
“Unhealthy living conditions, traffic congestion, and inadequate infrastructure in Bhiwadi have significantly affected real estate demand,” said a local representative. “Commuting has become a major challenge, and this has deterred many potential buyers. Despite this, the market has many factors that could support growth if the infrastructure issues are addressed.”
On the other hand, the real estate market in Jaipur has shown a steady uptrend since the onset of the COVID-19 pandemic. Rajesh Dukia, a real estate developer in Jaipur, commented, “An industrial hub like Bhiwadi should naturally be growing faster than Jaipur. The lack of growth in Bhiwadi clearly indicates that the living conditions are not conducive. However, the demand for real estate remains strong, and we expect the trend to continue in Jaipur in the near future.”
Dukia added that the housing demand in most cities and towns of Rajasthan is holding up well, with Bhiwadi being the exception. The contrast between the two cities highlights the critical role that infrastructure plays in the real estate market, and how it can either attract or repel potential buyers.
Frequently Asked Questions
What is the main reason for the decline in Bhiwadi's real estate market?
The main reasons for the decline in Bhiwadi's real estate market are poor infrastructure, rising pollution, and high land costs.
How has the real estate market in Jaipur performed in comparison to Bhiwadi?
The real estate market in Jaipur has seen a 37% increase in new residential units in 2024 compared to 2019, while Bhiwadi has experienced a 76% decline in the same period.
What does PropEquity's report indicate about Bhiwadi's housing supply?
PropEquity's report indicates that Bhiwadi has seen a significant reduction in new housing supply over the past 5-6 years due to excess supply created over the last decade.
What are the challenges faced by residents in Bhiwadi that affect the real estate market?
Residents in Bhiwadi face challenges such as unhealthy living conditions, traffic congestion, and inadequate infrastructure, all of which affect the real estate market negatively.
What is the future outlook for the real estate market in Jaipur?
The future outlook for the real estate market in Jaipur is positive, with strong demand and an expectation that the trend will continue in the near future.
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