Bhiwadi, the destination next

The city of Bhiwadi which is spread across nearly 5,300 acres has around 2,700 big and small enterprises. With its close proximity to the IT city of Gurgaon and with the formation of the new industrial corridor, the place is seeing manifolds of development in the residential, commercial and industrial sectors. Due to this, the place has attracted a lot of industrial activity and is presently witnessing a robust development.

According to Rohan Sharma, Senior Manager – Research & Real Estate Intelligence Service, Jones Lang La Salle India, “Bhiwadi and Neemrana are likely to see faster growth as in the former case, residential projects are progressing at a rapid pace while in the latter, a promise of all-round industrial and residential led development and a notified master plan will enhance the infrastructure progress at a rapid pace.”

Affordability Factor

Bhiwadi is an affordable Real Estate market for middle-class homebuyers. The town is developing very rapidly and it will soon offer residents, all the lifestyle amenities found in a metro setting. Salaried class working in Gurgaon, who have currently rented apartments there, see Bhiwadi as an affordable yet convenient investment option.

“With industrial investment growing apace, the Bhiwadi-Dharuhera cluster is emerging as the next real estate destination, and offers several residential options in the affordable space and luxury space. Bhiwadi has been developed as a prominent industrial hub close to Delhi-NCR and its affordable tag and infrastructure has made it a chosen destination among realty investors. Bhiwadi is on its way to becoming the residential suburb to surrounding MNCs and industrial complexes in Manesar (Gurgaon) and Dharuhera. Within driving distance from the Sohna-Gurgaon cluster, Bhiwadi is the new focus suburb of Delhi." Said Ssumit Berry, Managing Director, BDI Group.

The plots available in Bhiwadi provide similar facilities available for a luxury living in Gurgaon at a rate much affordable as compared to Gurgaon. Location is an important aspect of Bhiwadi. Being closer to Neemrana, Gurgaon and located merely 10 minutes away from the upcoming airport, Bhiwadi has excellent connectivity.

The price in residential structure starts from Rs. 2,200 per sq ft and with the kind of development happening, the place promises a huge price-appreciation in upcoming years.

“Bhiwadi is a lucrative investment option for those who wish to reside in the NCR. With prices in core NCR going out of reach of the middle class, salaried people on the lookout for investment opportunities in the range of Rs. 12 to 40 lakh can look towards Bhiwadi and Dharuhera,” says Ajay Singal, Director, Avalon Group.

Current Scenario

Initially, Bhiwadi was established as an Industrial area, but presently, it has been developing as a residential town. Since 2001, its population has catapulted to a figure touching 1, 00,000, which was only 34,000 at that point of time. Currently, its growth and development has multiplied at an alarming speed in the town, hence, increasing the demand and supply ratio. Rapid economic development and construction in this place is prompting the established Real Estate developers and even the new ones to come out with their new projects in the area.

Bhiwadi is witnessing residential development from the likes of BDI, Omaxe, Ashiana Group, Star Raison Landmark, MVL, Cosmos Infra, Avalon, Krish Infrastructure and Piyush Group among other small players that do not have significant development credentials.

Bhiwadi- the perfect future destination

Bhiwadi’s advantageous strategic location, and presence of global top notch companies, has opened possibilities for affordable housing and retail and hospitality sectors. The area is proving to be a perfect investment destination for those who have a dream to own their own homes without burning their pockets. With improved connectivity, people working in Gurgaon, Delhi and the adjoining areas of Bhiwadi like Manesar and Dharuhera can settle down in this town.

Gurgaon today, is known as the biggest IT and corporate hub. Around 20,000-30,000 professionals from Delhi, Bhiwadi, or Rewari commute to Gurgaon on a regular basis for work. While Gurgaon with its burgeoning MNCs continues to attract an increasing number of top drawer professionals from different locations, it will never be able to become the first choice of young entrepreneurs as a best dwelling location since the prices in Gurgaon are sky-rocketing, so the service class is left with no choice other than to go to other NCR regions like Bhiwadi.