Bhiwadi is located in the Alwar district of Rajasthan and is approximately 40 kilometers away from the Millennium City of Gurgaon. Bhiwadi’s transformation from a small blip on India’s map into one of India’s biggest Industrial corridor is nothing short of a fairy tale and is awe inspiring. But Bhiwadi’s image as a mere industrial area is due for a makeover. The industrial growth in the region has catapulted and resulted in a residential boom of epic proportions in Bhiwadi. Also, being a part of the Delhi-Mumbai Industrial corridor (DMIC) ensures that Bhiwadi is now viewed as an investment zone with full fledged real estate viability.
According to experts, Bhiwadi has witnessed a spurt of 400% in demand of residential projects and the future looks even brighter. Optimistic outlook towards Bhiwadi can be attributed to the following factors:
- Bhiwadi’s connectivity with Delhi and Gurgaon has improved significantly in recent times. The Delhi-Jaipur National Highway (NH8) has taken the pain out of commuting to Bhiwadi from Delhi-NCR.
- Honda, Gillette, Lafarge and many other prominent firms have setup their manufacturing hubs in Bhiwadi and are looking to expand rapidly. A lot of other firms are expected to follow suit and make Bhiwadi their primary manufacturing hub.
- Demand for residential projects has surged in recent times. People employed in the industrial belt and people of Delhi-Gurgaon looking for affordable housing schemes, are the primary demand creators.
- Real estate projects in Bhiwadi are considerably cheaper when compared to a Gurgaon or Delhi. The average ticket size of an apartment in Bhiwadi ranges between Rs 2400 and Rs 3500 per sq. ft. The affordability factor has tilted the odds significantly in Bhiwadi’s favour. On the plus side, the return on investment is in the tune of 8-12% annually, making the projects attractive for end users and investors alike.
- The proposed bullet train and metro connectivity will improve Bhiwadi’s prospects even further. Add to it the improving by the second infrastructure of the region and we have a winning combination. Government has realized Bhiwadi’s potential and has taken strides towards improving its civic and social infrastructure.
- Bhiwadi is also witnessing significant growth in office and retail spaces. Torrents of office complexes, shopping malls and multiplexes have come into existence in the heart of Bhiwadi recently, making Bhiwadi a holistic place to live in. V Square Mall, Sky View Towers, BB Mall and Ganpati Plaza are just some of the prime retail cum office projects positively changing Bhiwadi’s landscape.
- The Master Plan 2031 of Bhiwadi has proved to be the game changer. The plan chalks out a detailed way forward for Bhiwadi in terms of sector distribution and development cum maintenance of Greater Bhiwadi. The Master Plan 2031 has rekindled investors faith in Bhiwadi If implemented well. The Master Plan 2031 could prove to be a growth booster for the region.
- The inception of National Capital Region Transport Corporation (NCRTC) to develop transit systems between Delhi and Alwar is another major development working in Bhiwadi’s favour.
Yes, development of Bhiwadi into a force to be reckoned with will take some time. Bhiwadi’s name will soon be taken in the same breath as Gurgaon, Delhi and Noida but only a couple of years down the line. End users and investors should keep a time horizon of 3-4 years to reap the benefits that Bhiwadi has to offer. The future looks bright and promising for Bhiwadi and the people looking to buy/invest in the region. Bhiwadi, without any shadow of a doubt, should feature on every investors map and agenda.