Bhiwadi Real Estate Struggles: Poor Infrastructure Hinders Growth
Jaipur: The development of new residential real estate units has significantly decreased in Bhiwadi due to poor infrastructure, rising pollution, and high land costs. In contrast, Jaipur's real estate market is booming with a 37% increase in new housing u
Bhiwadi Real EstateJaipur Real EstateInfrastructure IssuesHousing DemandMarket TrendsReal EstateDec 01, 2024
PropEquity, a leading real estate research organization, reported that Jaipur added 4,742 housing units from January to October 2019. This number increased to 6,475 units in the same period in 2024. Samir Jasuja, the founder and CEO of PropEquity, commented, 'Bhiwadi has seen a considerable reduction in new housing supply over the past 5-6 years, largely due to the excess supply created over the decade.'
Local industry representatives in Bhiwadi believe that if the town's infrastructure had kept pace with its industrial development, the capacity for new supply could have been exhausted by now. 'Unhealthy living conditions, traffic jams, and inadequate infrastructure in Bhiwadi have significantly dampened real estate demand. Commuting has become a major challenge, and this has taken a toll on the market,' said a local representative.
In stark contrast, the real estate market in Jaipur has experienced a positive trend since the onset of the Covid pandemic. Rajesh Dukia, a prominent real estate developer in Jaipur, stated, 'An industrial hub like Bhiwadi should be growing faster than Jaipur. The lack of growth in Bhiwadi reflects the poor living conditions. Despite this, the demand for real estate in most cities and towns in Rajasthan is robust, and we expect the trend to continue in Jaipur in the near future.'
Dukia further emphasized that the housing demand in other parts of Rajasthan is holding steady, making Bhiwadi an exception. He added, 'The market in Jaipur is thriving, and we are optimistic about its continued growth.'
Frequently Asked Questions
What is the current state of real estate development in Bhiwadi?
The development of new residential units in Bhiwadi has significantly decreased, with a 76% decline from 2019 to 2024.
Why is Bhiwadi's real estate market declining?
Bhiwadi's real estate market is declining due to poor infrastructure, rising pollution, and high land costs.
How does Jaipur's real estate market compare to Bhiwadi's?
Jaipur's real estate market is thriving, with a 37% increase in new housing units in 2024 compared to 2019.
What role does PropEquity play in real estate research?
PropEquity is a leading real estate research organization that provides data and insights on market trends and developments.
What are the expectations for the real estate market in Jaipur in the near future?
Real estate developers in Jaipur are optimistic about continued growth and robust demand in the near future.
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