Jaipur the capital of Rajasthan, part of the famous Golden Triangle tourist route, the pink city has always set itself apart from other metros. In the last few years, the city has witnessed enormous growth and development in all areas.
The city is home to some of the biggest national and international corporations like Wipro, Genpact, Mahindra, etc. that offer employment to thousands. When it comes to social and cultural amenities, Jaipur is on par with the top metros in the country. It has several reputed schools, college, shopping malls, multiplex complexes, and a plethora of dining and shopping options.
With its staggering growth, Jaipur hasn’t lost its unique vibe. Even today, the city has plenty of green cover and an unhurried pace of life, that makes it a great choice for young families and first-time home buyers. Top builders like Ashiana have taken the real estate market in the city to the next level, by developing residential townships with high standards and world-class amenities.
If you are looking to invest in real estate in Jaipur, then you would have probably heard this name – Tonk Road. A real estate investment hotspot, Tonk Road has emerged as the top choice for first-time home buyers as well as seasoned real estate investors.
Here, in today’s guide, we take a look at the growth of Tonk Road over the years and the future of real estate investments in this locality.
Where is Tonk Road located in Jaipur?
Tonk Road is one of the upcoming residential areas in fast-growing South Jaipur. It’s one of the major arterial roads in Jaipur, and it runs parallel to Jagatpura.
Reasons for the Growth of Tonk Road
• Easy connectivity to the Jaipur International airport
It’s lesser than 7 kms away from the airport and can be reached within a 15-20 minutes drive.
• Proximity to other elite residential areas in South Jaipur
Tonk Road lies in easy reach of Jagatpura, Mansarovar, Malviya Nagar, Jawahar Nagar, and Nirmal Nagar. With most commercial and retail developments in Jaipur happening in this part of the city, Tonk Road has emerged as a favourite real estate destination for all.
• Part of the Jaipur Outer Ring Road
Jaipur Outer Ring Road (ORR) is one of the most prestigious infrastructure projects in Jaipur. It’s a 150 kilometre, six-land ring road that when completed, will encircle the city of Jaipur. The road is constructed by the JDA (Jaipur Development Authority).
The construction of the ORR is divided into three phases. The first two phases is a 47km road that connects south of Jaipur and runs along Tonk Road, Ajmer Road, and Agra Road. The third phase will be a 97.75km road that will connect the north of Jaipur with Delhi Road, Agra Road, Ajmer Road, and Sikar Road.
The highlight here is that it is a toll-free, world-class expressway with speeds up to 120 km/h. As of March 2019, 27kms of the Outer Ring Road that connects Ajmer Road and Tonk Road is completed. This section of the highway was inaugurated by Union Road minister Nitin Gadkari, a couple of months ago.
The ORR is a boon for residents of Tonk Road as it eases congestion and offers seamless connectivity with the rest of the city and the state.
• Industrial Developments
Tonk Road is at a distance of just 16kms from the popular Sitapura Industrial Area on the outskirts of Jaipur. Sitapura Industrial Area was set up in 1990 as a special zone for small and medium scale industries. Today, the area has grown to encompass over 30 acres and is home to nearly 2500 companies that employ over 5 to 6 lakh people in the area.
With huge employment opportunities, there is a great need for quality and affordable housing units near the Sitapura Industrial Area. This is why Tonk Road presents a great opportunity for investors. If you want to generate rental income, then Tonk Road is a great choice. With a huge demand for housing units among families working in the Sitapura Industrial Area, you can easily generate high rental yields.
• Commercial and Retail Growth
Tonk Road has witnessed rapid developments in the last few years. Today, it’s home to several 4-star and 5-star hotels including Radisson Blu, Crowne Plaza, The Fern – an Ecotel, Step Inn, Days Hotel by Wyndham and several others. St. Joseph Academy Senior Secondary, Nirmala Happy School, Sanghi Public School, and Dolphins International School are some of the top schools in this area. The Apex Mall, City Square, and Central Mall are all within easy distance from Tonk Road.
With ample dining and shopping outlets, and other essential amenities like hospitals and banks, Tonk Road is a preferred choice for families.
• Real Estate Trends of Tonk Road, Jaipur
With top-notch education institutes like Poddar international school, Jawahar Lal Nehru Education Campus and Jaipuria Institute of Management in its vicinity, the area has attracted the interest of several residents.
With access to hospitals like Mahatma Gandhi Hospital, Narayana Hospital and Bombay hospital, the residents are assured of world-class medical facilities.
Currently, there are over 292 properties for sale in Tonk Road (Source: Makaan). The price of properties in this area starts from 1.30 lakhs and go all the way up to 5.5 crores. The average price of a ready-to-move-in property here is 62.37 lakhs.
What makes Tonk Road a highly profitable real estate investment is that it has consistently shown an uptrend in the last six months. The prices of properties have risen at an average of 33%.
Tonk Road is a good investment choice for both first-time homebuyers and seasoned investors looking to generate rental income. Make sure that you choose a reputed buyer and enjoy high price appreciation in the next few years.
Ashiana Housing build homes. Homes surrounded by vast green spaces and fresh breeze. Homes cocooned in secured gated complexes. Homes where futures are forged and there are opportunities to grow. And Homes in environments brimming with healthy activity, trust and respect. At heart, we build communities with care.