WHY REAL ESTATE OF BHIWADI IS GROWING MORE THAN GURGAON ?

From a small non descript rural settlement with a small population of 1624 persons in 1971, Bhiwadi gradual transformation into one of India’s  largest industrial hubs has opened up a huge residential demand. A flourishing property market on both sides of  the Bhiwadi-Alwar Bypass Road bears testament to the fact that Bhiwadi is emerging in a bolder and bigger avatar in the region.
Real estate experts say that residential demand is up by 400% in the last five years with  future projections getting stronger because of infrastructural development projects, prominent among them being the proposed regional rapid transit system from Delhi to Alwar.

Krish Infrastructure pvt ltd,also known as Krish Group, which is one of rupted real estate company in Bhiwadi. It is guided by vision of Mr S K Singhal, an authority in the field of finance and Mr Sunil Agarwal, who has mastered the trade of cement and steel. In a Very short span of time the group has delivered around 13.00 Lacs sq. ft of residential and commercial space and it is poised to double over the next two years

The place which is the biggest hub of construction activity at the moment is the first 20-km stretch of the Bhiwadi-Alwar Bypass Road, which is just 5 km from National Highway 8. Developers who have started their group housing projects and townships are Krish Infra, Ashiana, Avalon, BDI, Innovative Colonizer, Cosmos, Kajaria Infra, Konark,  MVL, R-Tech, Nimai, Star Realcon, Tera Elegance, Ashadeep etc.

“Luxurious Apartment & Builder Floor projects in which possession has been offered are Krish Vatika phase I, Krish Vatika phase II, Krish City Phase I, Krish City Phase II, Krish Season(Plots), Krish Aura, Krish City Height, Krish City Phase II, Krish Square, Krish Harmony, Krish ICON etc. The current prices of Group Housing in projects under construction are between Rs 14.50 Lakhs to Rs 18.20 Lakhs while the ready-to-move-in flats of Krish City Phase II cost between Rs 13.30 Lakhs to Rs 25.25 Lakhs.

Since sectors roads have not been constructed yet, all the major developments are just along the Bhiwadi-Alwar Bypass Roads, says  Singhal. Once the area is divided in various sectors as per the Master Plan 2031, and sector roads come up, construction activity will pick up pace, he adds.
Many local brokers say that the end-user-investor ratio is 30:70, which means there are more families opting for rented accommodation than home buyers. This is because those who have been working in big industries like Honda, Shree Cement, St Gobain, Gillette, SRF, Usha Sriram, BKT Tyres, Hi Tech Gears, etc prefer rented accommodation because it’s cheaper than Manesar and Gurgaon.

Future plans

Realtors and experts lay major emphasis on the future development plans in the Master Plan 2031 of Bhiwadi which has proposed a Greater Bhiwadi Complex spread over both sides of the Bhiwadi Alwar road.

According to the Master Plan 2031, the Greater Bhiwadi Complex (Bhiwadi-Tapukara-Khushkhera Complex), which is one of the priority towns identified in the Regional Plan-2021 of the National Capital Region and is located at the eastern boundary of Rajasthan in the north eastern part of Alwar district, comprises of 99 revenue villages covering about 250 sq km.
The plan envisages that the residential use area is planned in the form of sectors with an average size of 60 hectare. A total of about 120 residential sectors have been planned. Besides, 45 sectors are kept under high-density mixed use where, along with residential, commercial and institutional use shall also be permitted both vertically and horizontally as per the requirement. It is stated in the plan that “Provision has been made to accommodate 15 lakh population by the year 2031. Out of total 120 residential sectors, six are of low density, 98 are of medium density and 12 are of high density.”
The formation of National Capital Region Transport Corporation (NCRTC) to  develop the regional rapid transit system (RRTS) from Delhi to Alwar is a major development.

Too optimistic?

Despite such a positive outlook, property experts suggest that investors should weigh the pros and cons before investing their money as any expectation of short-term gains would be too optimistic.
Many experts say that the announcement of rapid rail transit corridor between Delhi to Alwar has not had  any impact on real estate prices in Bhiwadi. “It’s easier said than done. It still sounds like a distant dream because it’s an elevated corridor which requires huge amount of work,” says Singhal.