Bhiwadi,is strategically located between Delhi,Gurgaon and Jaipur now enjoys the status of a Regional Centre or Priority Town of the National Capital Region (NCR),and has been able to create a niche for itself among the fast growing cities of India.
For developers and small investors in real estate,it has already become a destination of choice.
Bhiwadi,in Rajasthans Alwar district,is a fast modernising town with all facilities available. Numerous industries have come up in the surrounding regions such as Bhiwadi-Neemrana,Dharuhera,Tapukhera,Khushkhera,Chopanki,Bawal,etc.
Spread over nearly 5,300 acres,there are around 2,700 big,medium and small scale industries operating in this town. They include industries such as steel,furnace,electronics,engineering,textiles,pharmaceuticals,printing,cables,rolling mills,food processing,herbal care,etc.
The reason for growth of the town is its connectivity with various highways. Bhiwadi is located 55 km from Delhis Indira Gandhi International Airport,200 km from the state capital Jaipur,90 km from Alwar,40 km from Gurgaon,60 km from Faridabad and 5 km from NH-8 (Delhi-Jaipur highway) on the Dharuhera-Sohna Road.
Bhiwadi is leveraging on its locational advantage. Industrialists from Delhi and also from Punjab and other parts of India have set up base here. The Rajasthan Housing Board has been active in the industrial town. The location is settled with basic amenities such as piped water supply,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-71B.
Developers have acquired land on both sides of this road and have launched projects with plotted developments and group housing. The availability of plots is comparatively less in Bhiwadi as compared to apartments and independent floors.
Over the last couple of years,developers such as Ashiana have played a major role here,and has catered to the housing needs for the people working and living in this industrial town.
Developers such as Avalon,Nemai,Terracity,M2K,Cosmos,Essentia,Omaxe,Kajaria,Krish are the few names present on Bhiwadi-Alwar Road on both sides of the Tapukhera Industrial Area. The prices of apartments in Bhiwadi range from Rs 1,750 per square foot to Rs 2,600 per square foot. Typically prices have ranged from Rs 8.85 lakh to Rs 41.13 lakh,which is reasonable and affordable housing for people who live and work in this town.
The expansion of the Honda factory has seen an increase in its workforce from 1,000 employees to 7,000 employees by 2015,has given the boost to developers to create more housing in this area. Toyota,too is planning to set up their plant in the same location and the announcement has led to another boom.
Recently a Faridabad-based builder launched plots on Alwar highway in the name of Ozone City at Rs 7,200 per square yard and closed the last sale at Rs 8,500 per square yard,in the span of one month. The new plotted developments are planned at nothing less than Rs 9,000 per square yard.
Builders see a lot of scope in this area for another 3-5 years,because of the reasons such as improved connectivity with Gurgaon,connectivity with the upcoming Kundli-Manesar-Palwal expressway,the new industrial investments etc.
Bhiwadi-Dharuhera,with social and physical infrastructure and civil amenities in place,have emerged as a credible alternative to Gurgaon. The real estate sector has a robust future here along the NH-8 (Delhi-Jaipur highway).
Bhiwadi is on its way to becoming the residential suburb to surrounding MNCs and industrial complexes in Manesar (Gurgaon) and Dharuhera. Within driving distance from the Sohna-Gurgaon cluster,Bhiwadi is the new focus suburb of Delhi.
The unaffordable prices in Gurgaon has made this location an attraction for middle class investors. Salaried individuals on the lookout for investment opportunities in the range of Rs 10-40 lakh,are able to meet their budget only in Bhiwadi-Dharuhera. New apartments in Manesar have started to command Rs 80 lakh.
Bhiwadi is increasingly becoming a premium and well managed town that offers all the conveniences required for comfortable living as well as efficient functioning. The future prospects of the town would bring about good investment opportunities.
The author is MD,Bricston Realtors