Booming Demands for Residential Projects

Booming demands for new commercial and residential projects in Surat

The article discusses about the booming demands and prices of properties in both commercial and residential segments of Surat.

The real estate segment of Surat has marked a steady growth in terms of capital values in the year 2012, and the similar trends are being noted a steady rise in property values throughout the year 2013. There has been the remarkable growth in the residential segment with the introduction of some of the wonderful residential projects. The residential segment witnessed the price appreciation location wise. An average hike of 10-12% was noted across Surat, with no drop in capital values.

Residential Properties

In past two three years, the property values in the residential segment have been doubled, with the increase in the rental values of the commercial property for sale in Surat by over 40%. It is the high time that buyers and investors could gain profits in just 8-10 months.

The expansion of IT and corporate sector, retail industries and local industries has led to creation of a number of employment opportunities in Surat. Availability of lands and plots at affordable rates, work force, rapidly improving social infrastructure and easy connectivity are the some other aspects, which have fueled the real estate sector of Surat.

The proposed Surat Navsari Industrial Area (SNIA), which is being developed along the Delhi Mumbai Industrial Corridor (DMIC), is the new corridor for growth and development in the city. Such industrial growth will certainly be a booster for the realty developments, which include construction of integrated townships, luxurious flats, shopping malls, as well as commercial buildings.

Areas like Adajan, Nana Varachha, Palanpore and Green Citylight have been the most popular and transacted in the past 6-12 months, where the property witnessed a hike of 15-22% in this period. As compared to other metropolitan cities, the availability of luxurious flats at affordable prices has attracted buyers and investors. Currently, the prices of properties lie in the price range of Rs. 2,500-4,000 per sq. ft.

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Commercial Properties

The commercial segment is growing with the shifting of a number of companies from Ahmedabad and Mumbai to Surat because of the availability of affordable properties and improved connectivity. Surat Municipal Commission (SMC) has taken a number of measures for improving the transport link of the city and offering all the basic civic amenities even in the remote localities so that it can be named among the fastest developing tier-II cities.

The reputed real estate builders have come up with the commercial projects with the appreciation of more than 50%, and such properties available even for the resale. Such initiatives have been taken to construct new roadways, flyovers, drainage systems, drinking water systems as well as power facilities.

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Demands from NRIs

Apart from the demands from the residents, Surat has also witnessed increased property demands from the Non-Resident Indians (NRIs) and High Net Worth Individual (HNI), particularly in the luxury segment.

Those properties, which have a large carpet areas of more than 2200 sq. ft. and are located at the prime locations have been successful in fetching prices of more than Rs. 1 crore and have witnessed some big number of transactions. The resale segment of Surat has also become popular among the buyers because they offer properties at competitive rates in good localities, suggest the market watchers.

We can conclude with this remark that Surat has witnessed a big number of new and affordable projects, and thus there has been increase in the process of the properties as well. The growth of commercial segment on the other hand has also largely contributed in the property growth as anticipated.

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Author Bio:

Rashmi Karan is a writer and illustrator. Her areas of interest are the area and city specific real estate scenario of the Indian cities. Her articles about the real estate offer exhaustive information on the related topics.

Nirmal Anandh
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  1. Ohh No as you know Surat is a place in Gujarat and everyone from India wants to start their business in Gujarat. And everyone satisfied that Gujarat is a well-developed state of our country. So please now you can understand the reason of boom prices in residential and commercial properties in Surat. You can follow more details on

  2. Surat Is the most growing Cities in Gujarat and not even prices of residential and commercial projects are increases even daily uses market has also increases. Reason Behind this is technology orientation and Politics. If we think as a lay man than Modi Factor works in this and if we talk about technology than Job orientation factor works here.

  3. Now Surat becoming the new Real Estate Investment hub.Surat real estate market has witnessed tremendous growth for Property Builder by the way Nice Article.

  4. sastabroker1 says:

    thank you for sharing this kind of useful information, offers best service.

  5. Thanks for sharing this awesome content about investment. i am really thankful to you. waiting for next piece of content.

  6. Thank you for sharing valuable information. Really everyone like this post.

  7. I heard a lot about Surat from my real estate agents but never had a visit to India. I am a real estate investor based in Dubai and have over the 8 counties that I invested a lot. India is also one of my next targeted countries btw fantastic information that you shared. I am sharing your blog with my community and I hope you will get the next response soon.

  8. the demand for commercial real estate has increased with improved occupancy and rentals. the commercial estate market has witnessed a growth due to increased penetration of e-commerce

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  10. Great as I am looking forward to buy a new residential property the article is very much helpful.
    Looking for such informative articles ahead.

  11. An amazing article looking ahead to read more awesome and informative articles like this.

  12. A good commercial business have the complete set of tools and equipment along with the best skilled contractors.

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