In the state of Rajasthan, Alwar is ideally known as one of the fastest-growing real estate destinations due to many factors, including infrastructural expansions, affordability, industrial growth, and tourism. Though earlier Alwar was a small village, now the district has witnessed a massive transformation, and it is known as the industrial district. Ideally, the community lies 150km from South Delhi. Currently, it has been on the radar for homebuyers due to multiple factors.
Residential growth- As the commercialization expands along the National Highway or NH8, the city several things to offer to its investors. A lot of real estates developers have forayed in the area promising to be a host of residential options that range from luxury homes, apartments to independent apartments. In the past few years, the pace of development has accelerated due to improved connectivity to the national capital region. Further, the development graph might accelerate as the government has approved a 180km long rapid rail transit system. The project is likely to connect Alwar to Delhi via Rewari and Gurgaon. One of the significant factors that have fuelled Alwar’s growth is affordability. A magnitude of housing options can be accessed by people, which has majorly attracted people from the budgeted section. Another growth driver of Alwar is price appreciation. As it is a developing location, there is a vast scope of price hike that has catalyzed the home-buying trend in the city. The average capital value in the district ranges between Rs 1700sqft to Rs 4000 per sqft. However, if a project has more amenities, prices may rise.
Entertainment options- Alwar being a tourist location, is surrounded by historical museums, tranquil lakes, and majestic forts. The place is a graceful combination of all Nature, art, ancient history, and culture. Therefore, it is the best location for those who want a property amid the quietude of Nature. Thus, the town has seen a steady real estate expansion over the past few years with several commercial and residential establishments dotting the city.
Infrastructure expansion- Majorly, the reality spurt in Rajasthan is due to Rajasthan State Industrial Development and Investment Corporation Limited (RIICO). The corporation infuses funds and implements various development projects in the region. Also, Alwar is one of the districts that have a dedicated freight corridor between Mumbai and Delhi, as most of the passage would pass through the state. The community is spread over 165km. It encompasses 42 villages of the district. The project is ready to become the city's industrial lifeline.
Reasons to buy property in Alwar:
No property tax- One of the main reasons why buyers are more curious to buy property in Rajasthan is they don't have to pay property tax. Property tax can be quite high, so investors are flocking to the state to gain the best profits.
Low stamp duty- In Rajasthan, the stamp duty tax levied is meagre as compared to other states.
Low establishment cost- One of the high prices for establishing a property is establishment cost. Developing a residential or business property in Rajasthan is the right choice.
International airport- One of the major international airports is located in Rajasthan, which helps in promoting foreign investment.
Stable political scenario- In Rajasthan, there are favorable political conditions that appeal to the investors as they can invest here without any hassle.
Alwar is an ideal investment destination for both investors and end investors as the city infrastructure caters to the need for the burgeoning population. As the property market is flourishing in the state, so it is beneficial to invest in Alwar as most of the properties are conveniently located and priced reasonably.