Real Estate Jamshedpur
Jamshedpur is a name synonymous to Tata. The town was founded by Jamshedji Nusserwanji Tata in the East Singhbhum district of Jharkhand. Tata established here India’s first iron and steel plant way back in early 1900s.
The areas surrounding the town like Jamadoba, Noamundi and West Bokaro are rich in minerals like iron ore, manganese and lime.
Jamshedpur contributes huge scale production of steel, automotives, engineering goods, cement, and tinplates, which is carried over at different plants of Tata. Most of the small and medium scale industries here are situated at the Adityapur Industrial Estate, outside the borders of Jamshedpur.Subsequently, the town has been provided with the robust infrastructure and facilities.
As a testimonial, Jamshedpur won Global Compact City award from the United Nations, in 2004, beating India’s advanced cities of Bangalore, Chandigarh and Pune.
Despite being a modern industrialized city, Jamshedpur is one of the greenest cities of the country. The city also enjoys distinction of having unparalleled civic amenities. There has been a 24 hour water and electricity supply here, something which is not available in the other cities of India.
Real Estate Scenario in Jamshedpur
The real estate markets of Jamshedpur are bright. The city has everything that is required to make a world class city - well planned infrastructure, flourishing economy, and availability of necessary resources and basic amenities.
Presence of Tata brings respect and credibility to the city. The city has its own coal based captive power plant that caters a large part of the demand of electricity of the city residents.
Owing to such strengths, the properties in Jamshedpur make a value-based proposition. Prices of both commercial and residential real estate are reasonable and much below the other industrially advanced cities of the country.
Take for instance, the capital prices of a high-quality independent house at city’s prime residential location Sonari that are reasonably trading between Rs 1,800 and Rs 2,400 psft.
The city also offers good business opportunities with its large service class that is employed in the manufacturing sector.
With this buying commercial property in Jamshedpur like office space, shop or freehold land augurs to a profitable investment option. The upmarket business activities are concentrated at Bistupur, where you find retail outlets of national and international brands. City's most luxurious hotels - The Regent and Fortune Hotel Centre Point are also located on the Inner Circle Road of the zone.
Sakchi is the heartland of the city where most of the traditional market and housing is based upon. The upcoming locality of Mango has potential to offer handsome value-gains. Located across the Subernarekha River, the area is rich in natural beauty, and makes an ideal residential location. A decent number of enquiries are pouring in to buy flats, apartments, bungalows and luxury villas at Mango and Sonari.
The realty sector of Jamshedpur is suitable for those who have got vision for the future. Investments taking medium to long term horizon of 3-5 years would produce desired results or exceed expectations.
At present, the sector is at developing stage and would remain north-bound, in synchronization with the value proposition offered by the city.