Alwar is a city in the beautiful state of Rajasthan and is roughly 160 KMs away from India’s capital of Delhi. Formerly known as “Ulwar” under the British Raj, Alwar is famous for recording India’s highest ever temperature at 50.6 degree Celsius and the haunted fort of Bhangarh. What used to be a small district till about a few years back, is now on a growth overdrive and is witnessing a real estate boom. Alwar has transformed into a manufacturing hub and as a result is growing at a very rapid pace.
According to industry experts, the demand for residential, commercial and industrial real estate has grown multifold in the past couple of years. This escalation in demand is the signs of things to come. Real estate investment in Alwar is on every prudent investors mind owing to the following reasons:
- Alwar was recently inducted into Delhi-NCR and as we all know, being a part of NCR takes the growth and expansion of a city into express mode.
- A 180 KM long rail route called Rapid Rail Transit System (RRTS) was recently approved by the government. The route will connect Alwar to Delhi via Rewari and Gurgaon. The cost of the entire project is estimated at Rs 78000 crores and will cut down the travel time by more than half. Connectivity via metro has been approved as well. Alwar is already connected immensely well via road and Indian Railways to Delhi, Gurgaon, Jaipur and all other major Indian cities.
- Rajasthan State Industrial Development and Investment Corporation (RIICO) has promoted and built Alwar into the Industrial hub that it is today. RIICO is always at the forefront to promote and provide the much needed stimulus for Alwar’s industrial and overall development. Alwar can boast of 22 industrial areas spread across 12045 acres. Giant corporations like Honda SIEL, Dabur, Gillette, Ashok Leyland, Ray Ban, Kajaria etc, have already set their manufacturing facilities in the areas and are on the verge of rapid expansion. RIICO constantly strives towards attracting new firms to setup shop in Alwar as well.
- The existence of basic infrastructure in the region is another boon for Alwar. Wide roads, consistent water and power supply, more than 40 educational institutes etc, provide good onus to end users or investors in real estate to opt for Alwar.
- The DMIC project is being worked on in full swing. RIICO has started the process of acquiring more than 1506 acres of land in the Alwar region. The DMIC project and its successful implementation hold the key for Alwar’s bright future.
- Alwar is strategically located along the Delhi-Mumbai section of the Golden Quadrilateral Highway project, the proposed Dedicated Freight Corridor (DFC) and Delhi Mumbai Industrial Corridor (DMIC), all of which all but ensure a golden future for the region of Alwar.
- Demand for residential properties has seen a sudden spike in the region. The demand is driven by people working in the Industrial hub of Alwar. As a result, many builders have decided to grab the opportunity and have introduced a bunch of competitively priced residential projects.
- It’s nearby cities of Mathura, Bhiwadi, Rewari and Bharatpur are undergoing massive transformation of their own. All of this will result in better infrastructure, more employment and massively improved facilities.
All of the above and much more, make Alwar a trending investment destination. For investors, Alwar holds the promise of a good return on investment, while for end users, a spurt of affordable yet luxurious residential projects makes sense. Alwar has something for everyone and it looks forward to fulfilling its destiny of becoming one of India’s most developed cities.