Sunday, June 23, 2024

Alwar- A Tier 2 city which is a Realty Hotspot in the Making  

July 03, 2023: Alwar in Rajasthan has transformed from a tourist destination with historic places and national heritage centers to a realty hotspot in the National Capital Region in the past few years. Rapid infrastructural and road route developments, have boosted its connectivity with other cities of NCR, and have emerged as a hub for all kinds of projects, mid-range townships, luxury homes, commercial complexes, and malls.

One of the factors that work in its favor and channelizes homebuyers’ interests in the region is the fact that it has comparatively low-cost investments in the real estate space with similar, high-rank amenities that are offered in metro city realty projects, but at a much more affordable price range. The advancement of the Delhi-Mumbai Expressway will strengthen its multi-corridor connectivity with key economic hubs of five Indian states and peg up real estate developments in the regions. Alwar has also seen a large increase in residential plots, retail projects, and malls to cater to the cosmopolitan tastes of the growing population density in Tier 2 and 3 cities.

The National Capital Region Transport Corporation (NCRTC) is also planning to develop three rail-based RRTS systems connecting Delhi to Meerut, Alwar (via Gurgaon), and Panipat at a ballpark investment cost of over ₹1 lakh crore. This decision will further enhance Alwar’s regional connectivity.

Talking about one of its key expansion areas in Rajasthan, Alwar, Saransh Trehan, Managing Director, Trehan Group, said, “Alwar is a rapidly booming realty attraction for home as well as commercial investors. Tier 2 and 3 cities are setting new benchmarks for capital inflows and massive investment profits in the real estate space and Alwar is one of them. After witnessing a stupendous response to our affordable housing projects, we recently launched a residential plot project seeing the surplus demand in the region. We are also coming up with a mall that is at rapid stages of development in the region, named Urban Square. Our focus is to transform the micro-markets of Tier 2 and 3 cities and provide our consumers with world-class offerings in residential and commercial realty of superior quality and architectural excellence.”

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