Ranchi: Jharkhand's trade hub

Click to see detailed real estate map of Ranchi

Ranchi, being the state capital, is the trade hub of the region and attracts investments from all over Jharkhand. This, coupled with improvement in infrastructure, has resulted in increased residential demand as well.

Price propellers

Some upcoming projects that could influence real estate prices in future

1) National games village

A self-contained township with 1,800 residential units and a mega sports complex coming up at Hotwar for the National Games to be held this year; another 200-acre township to come up on Kanke Road.

 2) IT/Industrial Estates

The 9,000 sq ft software park at Namkum and industrial estates at Irba (113 acre) and Tupudana (200 acre) near Ranchi will create new growth centres and demand for housing.

3) Transport

Widening of arterial roads and a high capacity bus service connecting major institutions, station, airport and industrial areas are part of the integrated transport plan.

Ring roads

Prices of residential properties in Rs/sq ft The state government plans to construct an inner ring road and an 85 km long six-lane outer ring road for decongesting the city, connecting the suburbs and providing bypass for national and state highways.

 

 

 

New residential projects

Peripheral areas are seeing a lot of construction because of improving connectivity and ease of land acquisition and building permit.

Builder	Project	Location	Price (Rs)*
KDPL	Green Garden	Hesag	15 lakh
Shri Triveni	Trivenipuram	Booty More	16 lakh
Ilika Estates	Ashadeep	Purulia Road	17 lakh
Adharshila Structures	Raj Enclave	Piska More	17 lakh
Vasudha Homes	Vasudhapuram	Ratu	18 lakh

                                                                                                                                                                     *Average price of a 3-bedroom apartment

Retail space distribution by 2008

Ranchi’s position as the hub for retail shopping and wholesale trade has attracted even national level players like Parsvnath who are coming up with large scale projects.

 

 

 

 

 

Buying options

Area	Cheap	Price	Expensive	Price
Central	Kantatoli	1,800	Ashok Nagar	3,500
North	Bariatu Road	1,500	Kanke	2,100
East	Namkum Road	1,800	Purulia Road	2,300
West	Piska More	1,600	Ratu Road	2,400
South	Hatia	1,400	HEC Colony	2,200
*Prices of residential properties in Rs/sq ft

 Price change

 

Average percentage price change in 2007 and 2008 (expected)
Year	2007	2008
North	15%	10%
East	15%	10%
West	20%	15%
South	22%	15%
Central	35%	25%

 

Source: Ernst & Young, Knight Frank