Evolution of airports and highways
The current Maharana Pratap Airport is declared as International Airport and an expansion for a new terminal is in progress. Dabok-bhatewar road is near the international airport, six-lane state highway, and expansion of the upcoming high-scale industry. National Highway 8 project will have an expansion with a stretch of 113.8 km starting from Udaipur bypass till Gujarat.
Currently, there are 4 universities- M.L.S.U., Janardhan Ray Nagar, Rajasthan Vidyapeeth University, Agriculture University, and Sir Padampat Singhania University. Upcoming colleges and institutions- IIM-U and International Ayurvedic University (by Kanchan Seva Sansthan) and many engineering & management colleges.
Peri-Urban Development of City
Within a span of duration from 1946 to 2011, Udaipur has grown from 17 to 221 sq. km. A huge expansion of peri-urban area was observed in major regions- South and South-East towards Ahmedabad highway, East towards Chittorgarh, North-East towards Nathdwara. There has been a rise in gated communities, high rises, and other projects and schemes. According to the Master Plan 2031, the outskirts of Udaipur will turn into major investment opportunities with huge returns.
Udaipur known as the ‘Beauty Capital’ of Rajasthan is well known for handicrafts- paintings, marble artifacts, silver arts, terracotta items, and other handicrafts. Textile handicrafts and handloom are developed at Shilpgram. To encourage regional art and culture Craft bazaars are organized by Shilpgram.
Smart City project of Rajasthan selected Udaipur for its local area development and harnessing smart technologies in the city. Implementation of information & technology and improvement of infrastructure and other services. By the time, property rates will grow in Udaipur and that makes Udaipur be the best place for investment at current.
Heritage destination with uncountable sightseeing options in and around the city. Shrinathji and Eklingji are two important places for Hindu pilgrimage. ‘Royal Wedding’ concept is one business potential of the city; multiple venues in and around the city to celebrate occasions with the richness of royalty. All the major Hotel Chains are there in the city; thus, it a perfect destination for upper-class tourist visits. Healthcare & Tourism sector is at a boost with the opening of different institutes and colleges.
Udaipur is well connected to major cities via Air, Rail, and Road transportation modes. Making it more significant for investment. NH-76 between Udaipur and Chittorgarh is selected as part of the Golden Quadrilateral, which levels up the connectivity with major metro cities viz. Delhi, Kolkata, Mumbai, and Chennai.
High Return On Investment Property rates in Udaipur are lower than the national level as it is still in the development phase. Rajasthan has favorable tax rules resulting in a lower tax burden for non-investors. GST rates on under-construction properties are 5%. Udaipur has seen huge price appreciation (45 to 120%). Rates for the outskirts are lower than the tier-3 cities of the state. With the completion of the development phase, rates of the land will gradually rise.
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At Gokul Properties, we advice our clients not just acquiring property but also in investing in real estate sector through structural transaction that offer attractive returns. We empower our clients to make the right decision by investing in right property that yield strong returns in the coming years. As a part of the process, we assist our clients by comparing various properties and their probability of yielding higher returns
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