Cargo Airport to boost the real estate market of Bhiwadi

New Delhi: The Aviation Ministry has approved a Green Field Cargo Airport in Alwar district of Rajasthan to facilitate business on Delhi-Mumbai Industrial Corridor (DMIC).

Authorities have marked 636 hector of land in the first phase for developing Kotkasim aerocity.

The airport is likely to turn areas of Kotkasim and Tejara Tehsil into one of the biggest cargo and logistics hub in north India.

DMIC is an industrial corridor between the wealthy north and the prosperous west offering businesses a convenient access to the two largest consumer markets in India. The industrial towns in the region such as Bhiwadi, Rewari, Neemrana, Manesar will benefit most with this initiative.

This aspirational project is also believed to have a lateral effect on nearby real estate market especially Bhiwadi.

“The project will boost economic activities in the region, generating enormous employment opportunities. Being near to NCR and catering strongly to DMIC corridor, the project will attract a lot of economic and investment opportunities raising demand for workforce. As a tangential effect, the demand for properties especially affordable housing is touted to increase manifold in future,” said Ssumit Berry, MD, BDI Group.

Bhiwadi, which is often termed as the gateway to the royal state of Rajasthan has a bright future. The completion of NPR, SPR, CPR will provide smoother and easier connectivity to Bhiwadi. The shifting of Kherki Daula toll plaza will also provide the traffic-free destination to Bhiwadi.

“The planned development and unique amalgamation of the ethnic and modern-day city life will benefit the developers and buyers alike in the adjoining areas. Bhiwadi is a good investment option for those willing to hold properties long-term. The average ticket size of an apartment here is between Rs. 2,600 and Rs. 3,200 per sqft. The affordability factor has tilted the odds significantly in Bhiwadi’s favor. Also, return on investment here is nearly 8.5-12.5% annually, making the projects attractive for end users and investors alike.” added Mr. Berry.

Bhiwadi the industrial hub of Rajasthan, is well connected to Delhi, Jaipur and Alwar. The city has around 2,700 industries which include steel mills, furnaces to automobile and electronics manufacturing. Some of the famous among them are Gillette India Ltd, Jaguar & Company, Honda Motorcycle & Scooter India and Procter & Gamble. BDI has many projects here like BDI Ananda, Ambbaram, Sunshine City, Capital Greens and Spectrum.

Existing physical and social infrastructure along these areas coupled up with the ongoing and proposed infrastructure project will increase the buyer’s interest towards it. Thus, the demand for properties along these adjoining areas is touted to increase manifold in future and the area is a boon to the real estate sector.