New City Light to Become Hottest Real Estate Destination in Surat

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New City Light to Become Hottest Real Estate Destination in Surat

 

New City Light to Become Hottest Real Estate Destination in Surat

New City Light is known to be the sophisticated suburb in the city of Surat. It is one of the developing regions of Surat. These days, City Light is one of the hottest favorite non-commercial destinations in the city of Surat and it presents high rise buildings and homes. It is well known as Vashi of Surat because of high rise bungalows and towers. City Light is supposed to be the most popular area in Surat. You should choose City Light if you want to own a property in Surat. It is the eighth biggest city in the country and is located on the left bank of River Tapi. It is well known for diamond industry and also called as the “Diamond City of India”.

Up to 3/4th of the real diamonds found on earth are being polished and cut in this city. It is the second biggest city in the state which is well known for textiles and it derives the names like “Textile City” and “Silk City”. Surat has also been titled as the second cleanest city in India. It is one of the leading metropolitan cities to live in India. The increasing need of real estate development and switching industrial market to Tier IV and Tier III metro cities has been effective for Surat as well.

The increasing demand of real estate in the city truly showcases the need for even more commercial and residential locations. Surat is surely the destination to witness a lot of educational institutes which causes significant growth of students’ population from other parts of the country. The MNCs in the city have appointed expert specialists to stay active in the city to fulfill the needs of employees in new startups. Both specialized and students promote the need to buy real estate in Surat. The 2 BHK and 3 BHK units are enjoying great demand and motivating realty developers to build more residential properties in the city. The need of real estate by the NRIs is also included here as they invest huge amount of money in residential sector. There is definitely a way to access new property.

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Infrastructure Opportunities in Surat to woo Foreign Investors

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Infrastructure Opportunities in Surat to woo Foreign Investors

Infrastructure Opportunities in Surat to woo Foreign Investors

Gujarat Government has covered up to 200 infrastructure projects to woo the foreign investors. The delegations of Gujarat including business leaders and officials are on a trip to Canada and the US to invite companies to pay a visit to Vibrant Gujarat Summit to be held on January 2017, according to a senior official, Bharat Lal, heading Gujarat delegation, told American investors group during a Chicago based road show.

The Gujarat delegation includes top business leaders and officials. Up to 75 business leaders and government officials attended the road show which was organized by the USIBC (US-India Business Council) and FICCI (Federation of Indian Chambers of Commerce & Industry) at the office of Baker McKenzie. Gujarat is considered to be the most trend setting and progressive state in India and it is years ahead to attract the global investors/fraternity in the state, according to Ausaf Sayeed, Counsel General of India.

According to Lal, Gujarat is strongly focusing on Chemicals/Petrochemicals, Agro/Food Processing, Healthcare, IT/ITeS, Renewable Energy and other sectors. He further said that the culture of entrepreneurship in the state and the ethos of our government promotes industry and business and create opportunities for people of not just the state, but also India. Gujarat has become the most anticipated destination because of these characteristics.

According to Gujarat International Finance Tec-City (GIFT City), CEO, Ajay Kumar Pandey, it is the first model smart city in India which will have world-class infrastructure and will offer ease in doing business there. They will provide several tax benefits to the companies operating in GIFT City.

Surat to Witness Strong Real Estate Demand
Along with 11 small cities, Surat is likely to witness great real estate demand of up to 9.44 Lakh residential units over the next five years to come, according to real estate consultant Cushman & Wakefield (C&W). Out of 11 cities shortlisted at 2.3 lakh units in a study, after Kochi at 1.18 lakh residences and Vizag at 1 lakh residences, Surat is witnessing highest demand. On the contrary, the Tier 1 cities are all set to witness recording growth in residential sales.

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NRIs Looking for Luxury Housing in Satellite Ahmedabad

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NRIs Looking for Luxury Housing in Satellite Ahmedabad

NRIs Looking for Luxury Housing in Satellite Ahmedabad

Ahmadabad has already been the cost-conscious real estate market which is dominated by both mid and mass segment housing. Suddenly, it has seen lots of luxury projects to be launched in various areas like Satellite. In addition, this change has happened recently and the overall market is in the middle of slowdown in the state. Small yet tremendous set of buyers are actually non resident Indians who are the main reason behind significant demand. According to the report, over 52.7% of non-resident Indians are witnessing significant returns and going to settle here with huge amount of investment all set to be in real estate.

After getting introduced to luxurious living across the world, NRIs would definitely look for the same experience at their home. NRI’s are looking to fuel up the luxurious housing market in the state of Gujarat. In particular, Ahmadabad is being tipped as an ever growing global city and most of the NRIs from Gujarat are looking to settle here. According to Neeraj Tomar, the new launches will lead Ahmadabad’s Satellite to grow significantly. Especially near the BRTS corridor, Satellite Road to SP Ring Road and R2 Zone, the new launches will see a lot of new projects to be launched. These projects will have a lot of luxury specifications, when compared to earlier projects where luxury was judged on space.

For NRIs, Ahmadabad is one of the most anticipated cities of Gujarat who want to buy residential spaces for both investment and residential purpose. The city has 2-3 world-class township projects that really meet the definition of luxury and are classy. But they are still the second or weekend homes. NRIs invest a lot of money in residential, commercial and plotted projects and their sole purpose is returns on their investment.

According to Dhaval Ajmera, Ajmera Realty & Infra, when it comes to future potential, Ahmadabad is all set to become the leading real estate destination in India, when it comes to planned and on-going real estate developments, infrastructure projects, and connectivity to cities and industrialization. A lot of real estate developers are expected to launch luxury projects in the city.

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Skyline of Ahmedabad All Set to Witness Dramatic Change

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Skyline of Ahmedabad All Set to Witness Dramatic Change

Skyline of Ahmedabad All Set to Witness Dramatic Change

Thinking bigger has become the new and innovative way for Ahmadabad-based builders. When it comes to the projects introduced at GIHED Property Show 2015, most of the builders in the city have set their way to develop world-class projects both in commercial and residential space. Most of the 25 schemes with 100 17-22 storied towers are proposed to see investment of Rs. 12000 crore, according to the estimates by real estate agents. As per the new bylaws of GDCR (General Development Control Regulation), developers are developing over 75m tall towers.

A lot of builders have come up with different projects of over 20 storeys. Ahmadabad’s skyline is subject to change significantly within two years to come, according to MD of Ganesh Housing, Shekhar Patel. In 15000 Cr. Market, the new real estate trend will ensure more open space to the customers at appealing prices for general use. A lot of such projects are located in different areas like Sciency City, Ambali Road, Bopal, Satellite, and SG Highway. The residential projects are all set to offer world-class flats ranging from 2 BHK to 5 BHK homes and they all will be equipped with world-class amenities like rooms or yoga deck, mobile-app based service support, terrace gardens and even more.

Over 70 developers have launched 250 projects out of which 150 are new projects to showcase at 3-day GIHED Property Show. It is expected to see the dramatic rise of sale during Navratri season. It is great idea to plan expo in advance to attract customers to various projects in North Bopal to make final decision. The recent decrease in interest rates by the banks will also boost speed of property sales, especially residential, according to Ashish Patel, Gujarat Institute of Housing & Estate Developers (GIHED) Vice President. Up to 30 corporate spaces, 20 to 23 affordable homes and 25 high rise projects are planned to be showcased and cost effective segment will be ranging from Rs. 2800 to Rs. 3500 per sq ft, for corporate spaces from Rs. 5000 to Rs. 6500 per sq. ft. and Rs 5500 to Rs. 7000 per sq. ft. for world-class lifestyle apartments.

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Prahlad Nagar Witnessing Significant Real Estate Growth in Ahmadabad

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Prahlad Nagar Witnessing Significant Real Estate Growth in Ahmadabad

Prahlad Nagar Witnessing Significant Real Estate Growth in Ahmadabad

Prahlad Nagar Extension is the hottest favorite residential neighborhood, evolving commercial hub and a well-planned landmark in Ahmadabad. It is one of the most anticipated landmarks of the city. This area is offering the rare facilities and amenities to fulfill all the basic needs of people. The suburb is located at the southwest of Ahmadabad and it is one of the most promising neighborhoods for the commercial and residential purposes. Prahladnagar is known to be the well-planned neighborhood formed with the consolidation of Town Planning Schemes. Prahlad Nagar Extension is a well planned neighborhood which has hierarchy of street and road pattern and distribution of community facilities and public space according to the norms of Development Plan. According to the norms, a huge part of land has been used for road construction and providing all the basic and social amenities to the residents.

It is important to note that the provision of streetlights, construction of roads, development of gardens, plantation of trees, laying of sewage lines and rainwater harvesting are covered in this scheme. Everything has been done well ahead of deadline. Prahlad Nagar has clearly set a benchmark in the history of TP schemes with its timely implementation, well-planned design and financial stability. Prahlad Nagar is known to be the model which is not just for development agencies in the cities, but also for agencies in other cities which strive to provide well serviced land and well-planned landmark for fastest urban growth.

Several recreational facilities are well developed incessantly in Prahlad Nagar. It has a lot of recreational facilities and beautiful gardens in neighborhood. Even in the plan of new lakes development by AMC, Prahlad Nagar Extension has the proposed landmark where AMC is creating an exotic lake stretched over 23000 sq. m. Prahlad Nagar is quickly transforming in the major landmark of the city. The sprouting of a lot of world-class corporate houses and commercial areas in the neighborhood is emerging. Prahlad Nagar will have up to 350 hotel rooms by the 2012 end. It has a lot to offer when it comes to real estate.

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Ahmadabad-Based Riddhi Siddhi Group Makes City’s Biggest Land Deal

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Ahmadabad-Based Riddhi Siddhi Group Makes City’s Biggest Land Deal

Ahmadabad-Based Riddhi Siddhi Group Makes City’s Biggest Land Deal

Riddhi Siddhi Group, Ahmadabad based developer, has signed city’s biggest land deal of Rs. 268 Cr with Inductotherm India by acquiring 69000 sq. yards of plot. This year, it is the biggest real estate deal so far in Ahmadabad. Since Inductotherm India has moved its facility to Sanand, the plot remained vacant. The registration and deal has been done with Riddhi Siddhi Infraspace recently, according to the sources. Riddhi Siddhi Group is the firm owned by the Chowdhary Family which is based in chemical and commodity business. The plot is positioned at the prime location connecting Ghuma and SP Ring Road. The land is located on BRTS Route. The plot is located opposite to yet another vacant land which is currently a vegetable market and it is fully covered by commercial properties and plots.

According to the real estate sources, negotiations had been continuing over the last six months and some of the real estate players backed from the acquisition even after some papers have been signed. According to the sources, Rs. 2.68 Cr and Rs. 13.13 Cr have been paid as registration fee and stamp duty respectively in registrar’s office. The media couldn’t connect to Riddhi Siddhi Group and Inductotherm officials for comments. There are two important land deals happened last year in Ahmadabad. A real estate arm of Sheetal Infrastructure Ltd, Mahika LLP has owned 27000 sq. yard of plot near Alpha One Mall, Vastrapur for Rs. 228.31 Cr. Originally, the plot belonged to AES (Ahmadabad Education Society) and auctioned by Charity Commissioner in October.

Earlier this year, an Aarohi Group enterprise, Essam Infrastructure bought 50000 sq. yard land for Rs. 368 Cr near Surdhara Circle at Memnagar. The Charity Commissioner has also auctioned that land also which was owned by the Ahmadabad Panjrapole Sansthan. South Bopal area of Ahmadabad is witnessing great infrastructure development in Gujarat and it has become the major real estate market in the nation. It is one of the leading growth drivers in the state. A lot of smart cities have been planned to be developed across the country.

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