Real estate booms in Jodhpur with big projects

In Jodhpur, with rapid development, the real estate sector is booming with the prices of land increasing manifold. So much so that even the upper middle class are finding it difficult to cope up with them. The dream of owning a house in a well-settled area now seems out of bound for many. Academic institutions such as the NLU, IIT, NIFT and police university are building campuses in the periphery of the city, and price of land around these have skyrocketed.

Nagaur Road, where all the institutions are coming up, has witnessed the land prices going up from nearly Rs 50,000 per bigha to Rs 20-30 lakh per bigha. The arrival of IIT ushered the boom, say property dealers. The land for IIT was acquired at a rate of Rs 1 lakh per bigha, under the DLC rates prevailing then. Today if you want to own a plot within a 25-km periphery of the city, the price will not be less than Rs 4,000 per yard, a property dealer said.

He said that land prices for prime location on Pal Road, Barmer Road, Benar Road or Nagaur Road have gone up and now buying a property even in the interior areas is a costly affair. The real estate scenario has changed in the past 5-6 years with the announcement of big projects in the district.