29/09/2014
Bhiwadi is only a few kilometres away from Manesar, an emerging industrial and real estate hub adjoining Gurgaon, which has brought the attention of investors and buyers on this bustling township.
When compared to other areas of the NCR, the prices in Bhiwadi are still reasonable. "As Bhiwadi is on the highway and its infrastructure is improving by leaps and bounds, it is emerging as a place for people who cannot afford homes in Delhi or Gurgaon . Although it is 70km from Delhi , it does not take too long to traverse either way owing to the excellent connectivity it has with the national capital ," Devinder Gupta, the managing director of DGS Realtors, says.
Bhiwadi is a typical Tier II city and gives value for money to the investors and the buyers alike. Newly-constructed apartments here are generating a lot of buzz, as they offer multiple options to the middle class people.
"The big advantage of Bhiwadi, and for that matter places on or near NH-8 , is the ease of connectivity. The place has attracted a lot of industrial activity and provided scope for a boom in real estate. Another plus point of Bhiwadi is its flawless water-supply system . When compared to Gurgaon, the prices are very reasonable in Bhiwadi. It offers better facilities at a much more affordable price to the middleclass people compared to Gurgaon, Noida, Faridabad, etc," Ajay Agarwal, the director of Avalon Group, says.
The rapid industrial growth coupled with good connectivity has made this place very attractive to people interested in real estate. With affordable prices, well within the reach of the middle class, Bhiwadi will give good returns in the long term.
The expected movement of various companies too will boost the real estate market in Bhiwadi and Manesar, and thus provide good appreciation. As people start moving into these companies the need to have house near their place of work will become imperative, which will also help in boosting the rental values.
Devinder Gupta says that Bhiwadi is leveraging on its locational advantage. Industrialists from Delhi, Punjab and other parts of India have set up base here. The Rajasthan Housing Board has been active in the industrial town. The area has all basic amenities like piped water, schools, transportation, hospitals, telecom networks, banks, etc. The major attraction of this area is Tapukara Industrial Area, which is located on the Bhiwadi-Alwar Road.
The road has the status of a national highway, called NH-71 B. Developers like Avalon , Nemai, Terra City, M2K, Cosmos, Essentia, Omaxe, Kajaria , and Krish have projects on Bhiwadi-Alwar Road, on both sides of the Tapukara Industrial Area. The expansion of the Honda factory has seen an increase in its workforce from 1,000 employees to 7,000 employees, which has prompted developers to create more housing in this area. Toyota, too, is planning to set up a plant in the same location and the announcement has led to another boom.
"We are pretty sure that Bhiwadi has a lot of scope to develop its real estate sector for another three-five years, owing to improved connectivity with Gurgaon . Bhiwadi and Dharuhera have emerged as a credible alternative to Gurgaon, as their social and physical infrastructure and civil amenities are in place," Alimuddin Rafi Ahmed, director of ILD group, says. Experts say that Bhiwadi is the 'new focus suburb' of Delhi, as the town is at an easy driving distance from the Sohna-Gurgaon cluster. The high prices in Gurgaon have made this location attractive for middleclass investors.
Salaried individuals looking for investment opportunities on a budget of Rs 18-40 lakh can easily find a property of their choice in Bhiwadi and Dharuhera. Bhiwadi is increasingly becoming a premium and well-managed town that offers all the amenities required for a comfortable living. The town also has good investment opportunities for the middle class. If you wish to live in your own house in Bhiwadi right away, this is the segment you should look at. Such ready properties can be purchased through brokers. But since the total housing stock in Bhiwadi is not very large, the number of apartments available for sale at a particular point of time is limited.
