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Rental Property in Jaipur

Hailed as a planned city in India, Jaipur is also known as the ‘Pink City’ that houses a lot of the Rajasthan culture. A popular tourist destination, Jaipur has made a place in the heart of the residents because of the comfortable living that it gives to its residents. The housing pattern in Jaipur has changed to great extent. The palatial homes and the palaces are being transformed into heritage hotels and resorts like those in Udaipur. The majestic monuments that were once a limelight stealer is now part of the real estate market in Jaipur. This is mostly because of the commercialization that they have faced. Rajasthan government has made sure that the buildings are well taken care of. This is one reason why many are now available on rent and part of the rental property in Jaipur. Living in one of the rooms of these old buildings gives out a majestic aura that is loved by many. Most people moving to Jaipur from other states make sure that they lodge in any of these heritage buildings for the simple reason of experiencing the grandeur of the city. 

 

Rental market in Jaipur

 

There are sky-rise buildings and other independent homes in Jaipur that are available on rent. The houses on rent in Jaipur are affordable with modern facilities. Being a tourist hot-spot, the place is also loved by foreign travelers who move from Delhi, to Agra and Jaipur. Expansion of the commercial rental property in Jaipur earlier was solely for the purpose of promoting tourism in the state. But now, the Jaipur Municipal authorities are also taking initiatives to invite multi-national companies and the IT-companies to Jaipur, thereby increasing the opportunities for the rental homes in Jaipur. Students and professionals are always great takers of rental accommodations. It relieves them of the burden of paying more in purchasing an ownership home. 
 
But another disadvantage that is fast taking over the housing market in Jaipur is that the space and plots earmarked for the purpose of constructing homes are being diverted for commercial outlets and buildings to expand the IT-sector in Jaipur. This is leading to a dramatic rise in capital value of homes at least by 20 per cent. Rental accommodation in Jaipur seems to be the sole way out for many for whom buying home in this costly market is out of budget.
 
Rental rates in Jaipur
 
As far as prices of rental homes are concerned the criteria is limited to better housing, facilities, location, infrastructure, and proximity to the airport. The rates vary from Rs 6,500- Rs 18,000. The new IT-corridor projects will have commercial space allocated for cafes and snacks bar that would be Rs 2,500 per square meter. 
 
The below given chart lists the rental rates as per the various zones in Jaipur
 
Rental zones in Jaipur Rental prices in Jaipur
North Rs 7,000- Rs 15,000
West Rs 6,500- Rs 12,000
Suburb Rs 8,000- Rs 15,000