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JAIPUR RESIDENTIAL REAL ESTATE OVERVIEW January 2015 1 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY 3 2. JAIPUR CITY FACT FILE 4 3. JAIPUR REAL ESTATE 6 4. INFRASTRUCTURE GROWTH STIMULATORS 7 5. CITY SUPPLY AND ABSORPTION TRENDS 10 6. MAJOR LOCATIONS OF JAIPUR 13 7. CENTRAL JAIPUR 14 8. NORTH JAIPUR 16 9. WEST JAIPUR 17 10. SOUTH JAIPUR 19 11. EAST JAIPUR 21 12. LOCATION ATTRACTIVENESS INDEX 22 2 EXECUTIVE SUMMARY Jaipur is likely to become a Mega City by 2025 with a population of 10 million people covering an area of about 800 sq km. With flourishing tourism, manufacturing, export and educational infrastructure, Jaipur, the capital city of Rajasthan, is witnessing a booming real estate market. The city is strategically located at the confluence of three national highways, namely, NH-8 which connects Delhi to Mumbai, NH-12 which links Jaipur to Madhya Pradesh and NH-11 which links Bikaner to Agra. The Jaipur Residential Real Estate Overview highlights some of the key trends in the Jaipur residential real estate market. The report has been prepared based on a detailed market study by the ICICI PSG Research Team. Some of the factors resulting in Jaipur’s popularity as a real estate destination include affordable investment options in comparison to NCR, rapid industrial and commercial development and a fast emerging IT sector leading to creation of employment opportunities. The plethora of socio-infrastructural developments such as the Jaipur Metro project, construction of Ring Road around Jaipur and major upcoming projects like Mahindra’s 3000-acre Special Economic Zone (SEZ), Reliance Medi-city and the Delhi Mumbai Industrial Corridor (DMIC) will be further strengthening the city’s real estate potential. The realty market of Jaipur has witnessed maximum activity in suburban micro-markets of southern and western Jaipur such as Jagatpura, Tonk Road, Vaishali Nagar, Patrakar Colony, etc. The roads and highways connecting Jaipur with neighboring locations both outside and within Rajasthan, such as Ajmer (Delhi-Mumbai) Road, Tonk Road, Sikar Road, Sirsi Road and Agra Road, have also been witnessing traction and various known developers have forayed into these regions seeing strong future growth potential along these corridors. Jaipur residential real estate market is driven by a 60:40 mix of investors and end users respectively. The local consumption of flats is comparatively low and the local investors prefer investing in plots as the business community which forms a major chunk of the local population comprising of marble traders, jewelers etc. view it as an easy exit option with the added advantage of flexibility to use the land if needed. The investor community consists of investors primarily from Delhi-NCR, UP, Kolkata and NRI investors from Dubai, Muscat, Kuwait, US etc. Our in-depth analysis indicates than the maximum supply and absorption in the Jaipur market falls in the price bracket of INR 2,000 – 4,000/sq. ft. and the most active configuration in terms new launches and absorption for the residential units has been the 3-BHK segment. The report has been divided into following five distinct regions – Central, North, East, South and West based on the geographical location and real-estate activity where we have analyzed the key trends in the markets and have provided a perspective of the prevailing market scenario. Further, the report tracks the city absorption and supply trends and property price trends for each of these micro-markets through the weighted average prices of the available supply of units. The report concludes with a Location Attractiveness Index, which grades each micro-market on the basis of certain key parameters such as the current state of Infrastructure, Residential Cost, Proximity to Retail Establishments, Future Employment Generation Capacity etc. 3 JAIPUR FACT FILE Overview Jaipur is the capital and the largest city of the Indian state of Rajasthan. The city dates back to 1727. It was founded by and named after Maharaj Sawai Jai Singh II, the ruler of Amber. The city blushed in pink, is steeped in history and culture. Known for its handicrafts, gems and exports industry, this famous 'tourist spot' is also emerging as a favorable IT destination. Jaipur, an amalgamation of traditional and modern industries, is evolving well on the real estate development map. Jaipur is one of the earliest planned cities of India dating back to the 18 th century. The city’s growth began from the Pink City area expanding primarily towards the western and southern Jaipur as the Nahargarh hills in the North and the East are physical barriers to the growth of the city. The setting up of Rajasthan Housing Board in 1970 with the objective of providing housing facilities to the citizens of 7 cities of the state, which has currently been expanded to 52 states, greatly enhanced the urban landscape and infrastructure of the city. The major transport corridors such as Tonk Road, Ajmer Road, Sirsi Road, Sikar Road etc. the have played a significant role in determining the urban form of the city. Geographical Location Jaipur is situated in the east of Rajasthan state. The city is located approximately at 26.92 0N and 75.82 0E. Jaipur district has an area of 11,152 km2 and is surrounded by Sikar district in the north, the state of Haryana in the extreme north-east, Alwar and Dausa districts in the east, Sawai Madhopur district in south-east, Ajmer district in the west, Nagaur district in the north-west and Tonk district in the south. It lies 431 meters above the mean sea level. Moreover, east and north of Jaipur district are surrounded by the Nahargarh hills. The city is also very well connected to Delhi, Agra, Jodhpur, Udaipur and Jaisalmer through a network of roads, highways, railways and airways. Demographics (Census 2011 Highlights) As per provisional reports of Census India, population of Jaipur district in 2011 is 6,626,178; of which male and female are 3,468,507 and 3,157,671 respectively. In education section, total literates in Jaipur district are 4,300,965 of which 2,554,793 are males while 1,746,172 are females. Average literacy rate of Jaipur is 75.51 percent. Jaipur will soon join the club of top ten most populated cities of urban agglomerations in the country (Urban agglomeration is the population of main city added with the population of any suburbs). For Jaipur, it includes suburbs like Bassi, Sanganer, Shivdaspura, Ramgarh and Kanota. Description 2011 2001 Population 6,626,178 5,251,071 Male 3,468,507 2,768,203 Female 3,157,671 2,482,868 Population Growth 26.19% 32.40% Area Sq. Km 11,143 11,143 Density/km 2 595 471 Proportion to Rajasthan Population 9.67% 9.29% Sex Ratio (Per 1000) 910 897 Child Sex Ratio (0-6 Age) 861 899 Average Literacy 75.51% 69.90% Literates 4,300,965 3,027,923 Male Literates 2,554,793 1,891,074 Female Literates 1,746,172 1,136,849 Child Proportion (0-6 Age) 14.03% 17.51% Boys Proportion (0-6 Age) 14.40% 17.49% Girls Proportion (0-6 Age) 13.63% 17.53% Source: Census-2011 4 JAIPUR FACT FILE Economy The state and the city pay a substantial focus to the tourism, manufacturing, exports and education sectors. A variety of traditional as well as non-traditional items are exported from Rajasthan. These include precious and semiprecious stones, jewellery, ready-made garments, carpets, handicrafts, leather goods, chemicals, minerals, marbles, granite, engineering products etc. Jaipur's proximity to the National Capital Region is one of its biggest advantages. The nearby markets of Delhi and Gujarat have been both complementing and competing forces. The Delhi Mumbai Industrial Corridor (DMIC) will further strengthen Jaipur's development as an important economic hub. History Jaipur was founded in 1727 by Maharaja Sawai Jai Singh II, who ruled Jaipur State from 1699-1744. Initially his capital was Amber, which lies at a distance of 11 km from Jaipur. He felt the need of shifting his capital city with the increase in population and growing scarcity of water. Jaipur is the first planned city of India and the king consulted several books on architecture and architects before making the layout of Jaipur. After several battles with the Marathas, Maharaja Jai Singh became extremely concerned about the security aspects of the city. Due to this reason, he focused on his scientific and cultural interests to make a brilliant city. Being, a lover of mathematics and science, Jai Singh sought advice from Vidyadhar Bhattacharya, a Brahmin scholar of Bengal, to aid him design the city architecture. With a strategic plan, the construction of the city started in 1727. It took around 4 years to complete the major palaces, roads and square. The city was built following the principles of Vastu Shastra and was divided into nine blocks, out of which two consist of the state buildings and palaces, whereas the remaining seven blocks were allotted to the public. Administrative Framework Being a state capital, Jaipur has Legislative Assembly, Secretariat, State level offices of maximum Government departments with divisional and district level offices. There are 13 Tehsils and sub-divisions in the district which are named as Jaipur, Chomu, Amber, Sanganer, Shahpura, Bassi, Chaksu, Mojmabad, Jamwa Ramgarh, Phagi, Phulera, Kotputli, Viratnagar. Also, there are 13 Panchayat samitis and 2,369 villages. Infrastructure for Connectivity: Roads The city of Jaipur is centrally located and lies at the confluence of three National Highways. NH-8, one of the busiest highways in the subcontinent, links Delhi to Mumbai as well as important cities Gurgaon, Ajmer, Udaipur, Ahmedabad, Surat, Jaipur and Vadodara, NH-12 links to Jaipur (Rajasthan) to Jabalpur (Madhya Pradesh) via Kota and Bhopal and NH-11 links Bikaner to Agra, passing through Jaipur district with a total length of 366 km.

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