6 Reasons Why NRIs Must Consider Jaipur For Investment
Jaipur, the capital city of Rajasthan, has an outstanding infrastructure and an immense scope for development. The Pink City shares excellent connectivity with the capital city of Delhi, and is known for its rich cultural heritage. In addition to being one of the most popular tourist destinations in the country, the recent IT wave in the city has led to the rising demand for modern commercial spaces and residential property in the city. Equipped with world-class civic amenities, Jaipur makes for one of the most lucrative investment destinations in India today.
Following are some reasons that are bound to fascinate anyone, and especially an NRI, to choose Jaipur as their hometown.
Jaipur offers excellent connectivity across India via its International Airport, National Highways and its strategic location on the Golden Quadrilateral. The upcoming Metro rail will further enhance connectivity and boost the property prices in the city. Jaipur also shares excellent connectivity with the national capital, Delhi, which further enhances its realty market. With the rapid development of the infrastructure, Delhi and Jaipur are now closer together than ever before. A convenient drive of 3-4 hours on the Mumbai-Delhi Highway from the capital, Jaipur is a popular weekend getaway.
2.SEZ and business:
Jaipur is an emerging IT/ITES destination, with major IT companies like Genpact and Infosys already having set up a base in the city. A joint venture by Mahindra & Mahindra and RIICO will be set up in a Special Economic Zone (SEZ) in the city, on approximately 750 acres of land. Jaipur is also the largest centre for the export of coloured gemstones, sterling silver jewellery, handicrafts, carpets, apparel, traditional footwear, marble & stone artifacts, and engineering goods. These industries keep Jaipur’s economy going strong.</p.
Jaipur is the hub of domestic and foreign tourism in India. It is seen that almost 80% of foreign tourists coming to India make a visit to Rajasthan via Jaipur. The city’s tourism industry is a thriving one—from historical forts and monuments, like the Amer Fort, Jantar Mantar and Hawa Mahal, to bustling markets like Johari Bazaar known for the famous Jaipuri razaai, silver jewellery, intricate juttis, and bandhej fabric, to the magnificient Chokhi Dhani village and wide-ranging Rajasthani delicacies, Jaipur offers a warm and vibrant cultural spectre to its visitors.
Jaipur is known for its excellent civic amenities, from reputed schools and hospitals, to shopping malls and exquisite luxury hotels, the city is equipped with ultra-modern infrastructure. It is also a fast emerging healthcare destination, with Medicity of Reliance Group in the pipeline. The city is also home to the illustrious Mahatma Gandhi University of Medical Sciences & Technology. The law and order as well as the governance in Jaipur is one of the best in the country, making it a safe and secure destination.
5.Excellent growth prospect:
By 2025, Jaipur is expected to expand into a mega city, with a population of around 10 million across an area of 800 sq. km. This will further boost the demand for housing in the city. While the cost of establishment and living is fairly low, Jaipur is expected to grow significantly in the next couple of years (with investments amounting to a whopping sum of $2 billion).
6.Special benefits for NRI investors:
Under the Foreign Exchange Management Act (FEMA), NRI investors can avail of attractive offers on home financing plans. Moreover, the Government of Rajasthan allows for an exemption in VAT, CST and GST as part of the Rajasthan Investment Promotion Scheme. NRIs can also avail of various tax benefits on home purchases.
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