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Real Estate prospects in Surat


Real Estate prospects in Surat

Last updated: July 15 2010
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  • Real Estate prospects in Surat

    Hi friends..
    This is Rishi here...

    Before proceeding for the real estate and investment prospects of the city Surat,, i would like to give some details regarding the city...
    As of 2007, Surat and its metropolitan area had a population of approximately 4 million.It is the second largest city in gujarat and ninth largest in India..The city is largely recognized for its textile and diamond businesses. 92% of the world's diamonds are cut and polished in Surat. Surat is also considered a relatively clean city in India. It has one of the highest GDP growth rates in India at 11.5% as of 2008.

    Of cities nominated for the emerging markets for real estate investment, Surat has topped the chart, says the data showcased by the FICCI- Ernst &Young, the India-US CEO Forum.
    The city has been making rapid strides on the back of its residential property sector for the last couple of years. There is large residential development in the localities of Vesu and Damas.
    The Gujarat Government has recently signed a Memorandum of Understanding worth 1418 crore rupees with builders to develop integrated townships in Surat. According to the report, land prices in the city are also zooming upwards and appreciated by 30 to 50 percent over the past year.
    The city is characterised by existence of shopping malls and multiplex theatre's.. it has the highest no. of flyovers in Gujarat...

    Real Estate Trends in Surat
    Commercial: Sumeet Industries, Surat based polyster yarn manufacturer, has forayed into real estate development with plans to expand soon. The company may enter into a joint venture with reputed property developer in Kandla Port near Surat. It will build Kandla Port and over a million square feet near Surat.

    Investing in Indian properties has become a common trend among affluent Non Resident Indians (NRIs). Today, NRGs can largely be seen parking their money in the state. And, they seem to be more interested in buying commercial properties.
    Surat has seen group of NRIs making large investments in residential townships. These investments are often routed through Mauritius to avail tax benefits.

    Buying residential property in Surat has become easier due to the proficient real estate agents who know knit and grits of real estate market. Housing industry in Surat is growing at a rapid speed. Investment in residential projects in Surat is bringing huge profits to housing companies.

    Surat, the green city of India, witnessed its first glitzy shopping mall in June 2005 under the name of Picnic Shopping Mall. It now serves as a landmark to the place. Its main attraction is its low price than MRP. A number of retail projects have lined up to come up in Surat.
    Close on the heels are other smaller cities such as Vadodara and Rajkot which are moving ahead in race. Pantaloon, a known name in retailing, has acquired a large space of 1.7 lakh sq ft. at Panchwati crossroads on posh CG Road in Ahmedabad. The store will come up near to an upcoming 50,000 sq. ft. Shopper’s Stop outlet which has tied up 1.3 lakh sq ft space near Rhino Circle in Vadodara and 1.1 lakh sq. ft. space in the well known area of Athwa Lines in Surat for the establishment of Central Brand.
    Piramyd retail too has signed up for properties ion Surat and Ahmedabad. Another renowned retail chain of mobile supermarkets, Mobile Magic has opened five stores in smaller districts of Gujarat including two new showrooms in Surat.

    Upcoming Real Estate Projects in Surat
    Ahmedabad based Bhagwati Banquets and Hotels Limited plans to develop a 100-room five-star hotel in Surat near the City Pulse multiplex.

    Hotel Project in Surat: Ahmedabad based Bhagwati Banquets and Hotels Limited is drawing plans to build a 100 room five star hotel in Surat near the City Pulse and Multiplex. The hotel will utilize a whooping investment of Rs. 77 crore; will feature restaurants, conference facilities, health and sporting facilities and a business centre.

    Siddhi Shopping Complex: Pooja Corporations, a known property developer in Surat, is coming up with a shopping plaza. It will have concealed electrification with high quality switches.
    Mega Township: Again, the same builder, Pooja Corporation is planning to make its presence in the city’s residential market stronger. Staying in step with the goals, the company will develop a mega township ‘La Heights’ in Surat.

    Thus, with the establishment of new airport in surat..
    Its real estate prospects would get a huge boost,,
    hence more development is around the corner....
  • #2


    Re : Real Estate prospects in Surat

    Surat is really a wonderful place in India to invest. I'm looking for some plot near Sachin , place close to airport. Anyone who knows the prevaling plot/land prices in places around surat ?


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