Jaipur, the capital of Rajasthan, is one of India’s fastest growing cities. Its booming tourism industry has a lot to do with this, but not everything! Yes, tourism and hospitality now have august company in the form of infrastructure, IT and real estate development.
When Bengaluru bungled on infrastructure, the world’s focus shifted to Tier II and III cities. Infrastructure issues apart, the low rents (compared to the metros), availability of human resources (and low attrition rates) and their strategic locations give them their advantage. Let’s look at how Jaipur fares on these counts.
Infrastructure
Jaipur’s booming tourism industry has ensured good infrastructural facilities. When Maharaja Jai Singh II built Jaipur in 1727 AD, he planned it in the form of a rectangle with symmetric parallel roads, avenues and lanes. Today, with the modifications that come with time (read flyovers, bridges, parking facilities, parks and beautified landscapes) and the demands of burgeoning traffic and populations, Jaipur still boasts of one of India’s best-planned layouts and road infrastructure.
The Jaipur Development Authority (JDA) has become a successful role model for town planning authorities. Through a 550-crore project funded by the Asian Development Bank, Jaipur has improved sewerage, water supply, roads etc.
Connectivity and Accessibility
Jaipur is one of the ‘points’ of the famous Golden Triangle (Delhi, Agra and Jaipur). It is on National Highway 8, which links Mumbai to Delhi (the highway linking Delhi and Jaipur is a 250 kilometre stretch that can easily be covered in 3.5 hours), and is in the path of National Highway 11, which links Bikaner to Agra. Currently, work is underway to widen the Gurgaon-Jaipur expressway from the existing 4-lane to 6-lane. It is expected to be completed around mid-2011, after which the Delhi-Jaipur stretch will be signal-free.
Jaipur is well connected by rail, with direct trains to all the major cities in India. The city has a small international airport, and has flights to all major Indian cities from its domestic airport. Jaipur International Airport is located at a satellite location of Sanganer and offers intermittent services to international locations such as Dubai. .
Real estate drivers
Jaipur is a peace-loving city, making it conducive for real estate growth. It has transformed over the years from just a heritage city to one that makes a bold statement with a skyline studded with the old and the new – stately royal homes and forts interspersed with high-rises. Jaipur is preferred for its location, recreation options, peaceful social environment, lower commuting time, and power availability. Because of its attraction to tourists, Jaipur has no dearth of hotels for business travelers. The big names in the real estate and hotel industries have already made a killing in Jaipur.
HR factors
Jaipur is a gold mine of human resources. Because of its peaceful environment, North Indians prefer to educate their children in Jaipur. The city’s hundred plus professional colleges include more than 60 engineering and technical colleges, including Malaviya, some of the country’s best. Jaipur has 8 universities. The city’s literacy rate is more than 70%! The average salaries in ITES-BPO jobs are low, and the attrition rates are only 5-10% ¬– very low compared to metros.
VS Gurgaon
When compared to Gurgaon, Jaipur wins hands down, primarily because of its lower costs. Because of its proximity to Delhi (just 3 – 4 hours and often compared to Pune’s similar proximity to Mumbai) and led by companies like GE, companies are increasingly extending their Gurgaon operations to Jaipur.
The big fish are already in Jaipur
The Government of Rajasthan has risen to the challenge with SEZs and policies conducive to major investments. Wipro, Infosys, Coca-Cola, Hero Honda, GE Capital, Taj Hotels, Welcomgroup, Oberoi, the Mahindra group (a 3000-acre SEZ has been set up by them) are just some of the big names currently in Jaipur.
Some of the super projects lined up or nearing completion include international hotel properties from the Hyatt, Radisson and Hilton groups, International Convention Centre (Rs.300 crore), a proposed International Airport at Shivdaspura, Ring Road – all around Jaipur, Knowledge Corridor, Gems corridors, IT Corridor, Film City, Sports City – Achrol, with major investments even from Mondon, an Israeli company.
Expat life
Jaipur has a small but vibrant expat community. Students form the bulk of expat occupants in the city. A few come as volunteers for a few months’ stint, and there are some who work here as well.
Expats usually live in the Bani Park area, and most of them love to “gel” into the Indian way of life. For those who miss the goodies from back home, Jaipur has supermarkets and stores that stock imported goods. Lounge eateries like Mr. Beans and The Rock Cafe near Crystal Palms Mall, Cafe Kuba, Sheesha and Mocha are quite popular with the expat population. Most feel that the entertainment scene in Jaipur could improve, but where there is a will there is a way, and Delhi, which is just a few hours away is every expat’s weekend getaway. Expats love the cultural and historic richness that Jaipur offers, and its fast improving modern avatar makes it the perfect blend for comfortable expat living.
Conclusion
Jaipur is no longer just India’s most-visited tourist spot. While handicrafts and stone businesses have always flourished here, the new Jaipur is all about being a corporate hot-spot attracting major business investment. The city is also earning the image of a formidable contender to become India’s next IT and real estate hub. With everything going for it, except perhaps its weather, India’s pink city is certainly in the pink of economic health!
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