Bhiwadi realty market hits road bumps on poor infra

Jaipur: The development of new residential real estate units has significantly decreased in Bhiwadi as buyers are turning their backs on the industrial town due to its poor infrastructure, rising pollution, and high land costs.In 2019, 396 units were launched between January and October, while the number reduced to 96 during the same period in 2024, registering a decline of 76%.In contrast, the construction of new residential units in Jaipur witnessed an increase of 37% in 2024 during the same period compared to 2019, reflecting robust demand.According to a report by PropEquity, a real estate research organisation, during January to October in 2019, Jaipur added 4,742 housing units, which increased to 6,475 units in the same nine-month period in 2024.Samir Jasuja, founder & CEO of PropEquity, said, "Bhiwadi has seen new housing supply reduce considerably over the past 5-6 years as the town grappled with excess supply created over this decade or so."However, local representatives of the industry in Bhiwadi said that the capacity could have been exhausted, paving the way for new supply if the infrastructure of the city matched the industrial development."Unhealthy living conditions, traffic jams, and inadequate infrastructure in Bhiwadi have taken the sheen off the real estate demand. Commuting has become an ordeal. Otherwise, the market has everything to support growth," he said.On the contrary, the real estate market in Jaipur has been on an uptrend since the Covid pandemic.Rajesh Dukia, a real estate developer in Jaipur, said, "An industrial hub like Bhiwadi should be growing faster than Jaipur. The lack of growth reflects that the living conditions are not conducive there. Otherwise, the demand for real estate is very good, and we expect the trend to continue in Jaipur in the immediate future as well."Dukia said the housing demand in most cities and towns of Rajasthan is holding up pretty well, and Bhiwadi is an exception.