Tonk Road grows as a residential destination in Jaipur

Date : Aug 23, 2012

Tonk Road is emerging as one of the most preferred new destinations for urban living in Jaipur. With better road, rail and air connectivity to Delhi and other places, the area is seeing massive real estate activities these days. The property values too have witnessed 10-15% increase during the past six months and are still appreciating, says Atul Jain of Global Properties.

According to Kunal Malhotra from Panchsheel Coloniser Pvt Ltd, “Tonk Road is witness to rapid development and significant growth in the realty sector because it is home to Sitapura industrial area and also the fact that airport lies on this road. A lot of projects are in the pipeline here.”

Tonk Road is witnessing numerous hospitality and educational projects along with residential projects. Projects such as Reliance Medicity, hospitals by Hinduja Group and other MBA, medical and engineering colleges will create demand for quality residential and commercial space in the vicinity, Amit Mishra of Property Junction said. This is attracting prominent as well as local builders and developers to come up with their projects along the road. Sahara Group is already coming up with a township project on Tonk Road and as per the realtors the project is witnessing fair number of transactions and is already sold out.

Other active developers are Vatika Group, Omaxe Ltd, Amrapali Developers, Ansals API and other local developers of the city constructing new residential projects along the Jaipur-Tonk Highway. These projects are fully equipped with all the contemporary features and specifications. According to Mishra, “these new projects are very popular among the young buyers of the city as well as from Delhi NCR owing to presence of luxurious features at an affordable price. Today most of the buyers are investing in new growth corridors such as Sikar Road, Jaipur-Ajmer Highway, Agra Road and Jaipur-Tonk Highway as they offer premium houses at an affordable price, he added.

The current capital values vary from Rs 1,700-3,200 per sq ft which is quite affordable compared to other premium areas of the city. The infrastructure development such as construction of 8-lane Expressway and upcoming SEZ in neighbourhood is also boosting the realty segment. Enhanced connectivity, accessibility and presence of basic facilities are making Tonk Road a favorable living area. Looking at the recent development, the area is expected to witness surge in properties and rise in values.