Master Plan 2025 will encourage housing in Jaipur
Jaipur, the Pink City, has always been in the news for its captivating tourist spots, this time the booming real estate market of the city (which is picking up across all the segments) is the center of attraction. Riding on the back of the Master Plan 2025, the industry is optimistic that it will witness phenomenal growth in the next 10 years. With the new master plan 2025, the government of Rajasthan has taken the first step to transfer Jaipur into a modern urban sprawl, equipped with adequate commercial and residential space. As per market reports, the Jaipur Development Authority’s Master Plan 2025 has devised a detailed map, taking into account important aspects such as growth, persisting congestion and migration into the city.
A new step
According to market experts, the master plan proposes to offer relaxations and enables the realtors to come up with new housing projects in U2 areas. The planning officials, are of the notion that making amendments in the master plan will enable the realtors to come up with housing schemes in less than 10 hectares of land, which was not permitted in the U-2 areas. However, a green signal from the state government is still pending.
U2 areas in the master plan can be stated as the immediate influence area of the U1 and the Satellite towns. U1 area has already been registered as a high density urbanisable area, which lacks any land for new housing projects. Since, U2 areas are generally rural and the land is vacant and not utilised, therefore it can be used for further residential development.
Impact on real estate
Key realtors in the city have welcomed the proposal of allowing residential developments in less than 10 hectares of areas in U2. As per the proponents of the real estate market of Jaipur, this will likely to generate a positive impact on the residential real estate market of the city. Furthermore, it will be convenient to buy the houses in U2 areas, on account of reasonable land rates. In addition to it, the demand for housing is also anticipated to hit high once the amendments are brought into to the terms and finalized the new schemes kick start.
Riding on the back of certain amendments in the 2025 master plan of Jaipur, the JDA (Jaipur Development Authority) is pinning hopes to offer more houses to the people of the city. Another key feature to focuses on, is to cut down the migration to the inner city and scale down the congestion and pressure on the infrastructure in the core city, by shaping eleven satellites and four growth centres around the Pink City.
Note: U1 areas-Urbanisable area
U2 areas-Immediate influence area of U1 and satellite towns
