Neemrana is one of the fastest growing industrial centres in North India. This area is advantageously located on NH-8, in proximity to other industrial sub-markets such as Bhiwadi, Bawal, Khushkhera and Tapukhera. Situated in Rajasthan and part of the Delhi NCR, Neemrana has attracted a lot of heavy industrial investments from Japanese manufacturing firms such as Nippon, Daikin, Nissan, NYK Logistics and Mitsui Chemicals.
Neemrana lies along Phase-I of the Delhi-Mumbai Industrial Corridor. The Rajasthan State Industrial Development and Investment Corporation (RIICO) has developed several industrial zones that have led to this sub-market's emergence as a major industrial hub. The demand for homes from workers employed in these industries is, therefore, considerable and constantly rising. This provides Neemrana with all the attributes of an ideal real estate investment market, offering low entry points and high appreciation potential.
Developers have already acquired large land parcels in Neemrana, while others are actively seeking such parcels for development. Some residential projects by Anant Raj, Eldeco and Aashiana have already been launched. This sub-market has especially high potential for integrated township projects and affordable housing undertakings.
Neemrana will continue to attract demand from the large existing workforce as well as additional personnel that will migrate there over the course of the next few years. The government of Rajasthan has already notified the 2031 Master Plan for the Shahjahanpur-Neemrana-Behror Urban Complex.
The planned infrastructural initiatives in this region will further aid the emergence of this town as a major real estate growth node. There are plans to set up a cargo airport, with industrial firms from Korea and Taiwan showing keen interest in establishing their manufacturing facilities in Neemrana.
With industrial growth acting as a pull factor for this sub-market, real estate development across Neemrana's various segments will find increasing traction going forward. The real estate story has just begun for Neemrana.
Residential prices in this market are still at a nascent stage, averaging Rs 2,400-2,700 per sq ft and give every indication of healthy rise in the future. This is a market that is especially appealing for large plot investments, and long-term investors who value the success formula of its unique combination of growth drivers.
The writer is CEO - Operations, JLL India
