Jagatpura is situated in the southern stretch of Jaipur city. An excellent upcoming residential locality, it is closely surrounded by reputed educational institutions like SRN International, SKIT, and VIT. The world-famous ISKCON Temple is also situated nearby, and attracts regular visitors.
Being among the first choices for reputed builders and potential buyers, Jagatpura is witnessing a growing real estate market. Bombay Medicity, Reliance Medicity, and over 8 universities and 40 colleges are to come up in the region shortly.
Social infrastructure in the area is sound. Major healthcare facilities in the area include Shree Ram Hospital, Prem Niketan Hospital, and Baheti Hospital. Axis Bank, Punjab National Bank, State Bank, and Bank of Baroda are all a stone’s throw away. Not just schools and banks; the locality also has popular eateries like District 9, Chhabra’s Restaurant, and Barbeque Nation.
Connectivity and Transit Points
Jawahar Circle bus stop, Sector 3 bus stop, Durgapura bus stop, Apex Circle bus stop, and Kundan Nagar bus stop are easily accessible to anyone in Jagatpura. The nearest railway station is Jagatpura Railway Station. The North Western Railway headquarters is also situated here. The Jaipur International Airport is only at a distance of 2.7 km from this locality.
Factors for Growth in the Past
Jagatpura’s growth as a promising real estate hub was primarily driven by its excellent connectivity. Accessibility to the National Highway, proximity to the airport, and its connectivity with the commercial and residential hubs of Jaipur made it an instant hit among the localities of Jaipur.
Jagatpura has been witnessing frenzied real estate activity over the past few years, with a host of hotels and residential projects under development. Land availability is, thus, the other guiding factor for the locality.
Residential & Commercial Market
Residential Market Trends
The real estate prices in Jagatpura are still very reasonable, although they have increased 5-8% over 2013, clearly indicating that this region is on a high growth trajectory. More specifically, capital values have increased 4-6% annually, while rental growth has been at 7-9% per annum.
The average prices for residential apartments in Jagatpura is approximately Rs 24,900 per sq. yard. The rental value of a 2 BHK cost around Rs 7,000-9,000 per month, and a 3 BHK cost Rs 8,000-12,000 per month approximately. Lately, the locality prices have increased to Rs 3,250 per sq. ft. Apartments are more preferable among residential properties in Jagatpura.
Commercial Market Trends
On the commercial front, the average price of shops is Rs 9,300 per sq. ft. On an average, the commercial plots are priced up to Rs 2,700 per sq. ft.
Water supply in Jagatpura requires immediate attention. Many times, the area’s residents on their own had to arrange for water from the neighbouring localities. Environmental pollution makes matters worse, causing serious health hazards.
Furthermore, lack of sufficient parking space results in the vehicles being parked on footpaths, making it almost impossible for the residents to walk safely. There is also an alarming increase in the number of accidents caused by reckless driving, putting the residents’ safety at risk.
Factors for Growth in the Future
Jagatpura is one of the many regions in Jaipur that can be considered a growth corridor. Connectivity has played a major role in the area receiving this tag. Of late, ample residential development in the region has begun to open up the commercial market, as well. In the coming years, the area is expected to evolve into an industrial hub.
The development of residential projects, however, is far from stopping. Some of the popular upcoming projects in the area include Mahima Studio Panache, Ashiana Vrinda Gardens, Ashadeep Vedanta, Salasar Majestic Heights, Royale Platinum, and Shreeram South Court.