Right Time To Buy Property: These Projects Are Making Gujarat Next Commercial Property Hub
Gujarat has been a prosperous state since India’s independence. Gujaratis are well-known for being business-oriented people. Gujaratis, it is said, are born entrepreneurs who venture into real estate, the stock market, and trade. Furthermore, the state has a sterling reputation for integrating and accepting non-Gujaratis and making them feel at ease. This state welcomes all citizens with open arms and treats them equally. Gujarat has also made a name for itself internationally, especially in the last two decades.
Ahmedabad, Gujarat’s commercial capital, is connected to the rest of the States by a well-developed network of roads, railways, and airways. Although the city has already been designated for growth as part of the Government’s Smart Cities Mission, it is expected to see a significant increase in infrastructure and facilities over the next few years.
Ahmedabad’s real estate market has grown in popularity among both investors and homebuyers over the years. Though the city has yet to realize its full real estate potential, several major upcoming and under-construction infrastructure projects are expected to improve the city’s growth prospects in the future, making this the perfect time to invest in real estate. In reality, the city is prepared for rapid expansion, owing to a steady drive in the realm of infrastructure.
The following are some of the major underlying projects that are anticipated to transform Ahmedabad’s real estate:
1) Mumbai — Ahmedabad High Speed Rail Corridor (MAHSR Bullet Train)
The Mumbai-Ahmedabad High-Speed Rail Corridor is a railway project in the works that will link Ahmedabad, Gujarat, and Mumbai, Maharashtra. The Bullet train, which is labelled as India’s first high-speed rail line, will stop in 12 cities: Mumbai, Thane, Virar, Boisar, Vapi, Bilimora, Surat, Bharuch, Vadodara, Anand, Ahmedabad, and Sabarmati. The project is expected to be completed by August 15, 2022, which will be the nation’s 75th birthday. Following the project’s completion, the regions along the planned corridor are likely to become new hotspots for real estate investment, attracting developers and financiers to expand along the stretch. As a result, these cities will see a rise in housing demand, as well as an increase in property prices.
2) Six — laning of Sarkhej — Gandhinagar HIghway (SG Highway)
The State has approved the six-laning of the Sarkhej-Gandhinagar (SG) Highway between Sanand Circle and Chiloda in order to provide a smooth travel experience to commuters going in and out of the district, as well as towards the north of Gujarat and Saurashtra. The project entails the building of seven flyovers and railway overbridges, as well as a 4.5-kilometer elevated corridor. Six-lane flyovers will be built soon at Ujala Circle, Sanand Chokdi, Pakvan Crossroads, Vaishno Devi Circle, Unvarsad-Adalaj junction, Sargasan Crossroad, and Infocity Circle. Furthermore, an elevated flyover from Sola Bhagvat junction to Zydus Cross Roads is being constructed. In addition, the Sola-Science city’s current four-lane bridge will be widened. The total cost of the work along the 45-kilometer stretch of NH-147 is estimated to be about Rs 846 crore.
Top growing locations on SG Highway are as follows:
- Sarkhej
- Makarba
- Iscon
- Rajpath Club Road
- Pakwan
- Thaltej
- Sola
- Gota
- Vaishnodevi
- Adalaj
- Infocity Lane
- Gandhinagar
3) Ahmedabad Metro Rail
The metro in Ahmedabad is currently only operational between Vastral and Apparel Park. The foundation stone for the second phase, which will link Ahmedabad’s Motera to Gandhinagar’s Mahatma Mandir, has already been laid. Gujarat National Law University, Pandit Deendayal Petroleum University, Infocity, and Akshardham will all be linked by the 28.5-kilometer stretch, which will have a total of 20 stations. The effect of the network once it is fully operational will be felt not only in these areas, but also in the real estate markets of Ranip, Sabarmati, Rajiv Nagar, Thaltej, Shahpur, Amrawadi and Vastral. The new metro line will have a major effect on real estate demand in and around these areas.
4) New International Airport at Dholera and Dholera Smart City
The Dholera International Airport is part of the Gujarat Government’s Dholera Special Investment Region (Dholera SIR), which is located 100 kilometers south of Ahmedabad. The Dholera International Airport is expected to have a 50 million passenger capacity (annually) once it is fully operational. The aim of the project is to decongest the overcrowded Sardar Vallabhbhai Patel International Airport in Ahmedabad.
In addition to decongesting the Sardar Vallabhbhai Patel International Airport in Ahmedabad, the new Dholera airport will serve Rajkot, Vadodara, Bhavnagar, Kheda, Nadiad, and Anand in Gujarat. By 2024, the first phase of the airport is expected to be operational. The airport would have excellent connections to the city’s transportation networks. The National Highways Authority of India (NHAI) has acquired a 120-meter-wide strip of land that runs from Dholera SIR to Ahmedabad. This strip will be used for a six-lane highway for 90 meters and a Metro link for 30 meters.
India’s first smart and innovative city would include the greenfield airport. According to reports, the planned Dholera Special Investment Region (DSIR) will be larger than Singapore and will include a number of world-class facilities. Dholera has a strategic location in Gujarat, between the state’s major industrial cities of Ahmedabad, Baroda, Bhavnagar, and Rajkot.
5) Port City, Coastal Employment Zone
The Government’s Sagarmala Program’s aim is to reduce logistics costs and time for EXIM and domestic cargo movement. In the future, developing port-proximate industrial capacities near the coast would be a step in this direction. Coastal Economic Zones (CEZs), Coastal Economic Units (CEUs), Port-Linked Industrial & Maritime Clusters, and Smart Industrial Port Cities have all been proposed in this regard.
6) DREAM City, Surat
DREAM City, or Diamond Research and Mercantile City, is an upcoming business district in Surat, India. It will be built on 2,000 acres near Khajod, similar to the Gujarat International Finance Tec-City (GIFT City) and Dholera Smart City. Gujarat will have its third smart city.
Surat’s economy will be transformed by DREAM City, which houses the Surat Diamond Bourse (SDB). Surat will not only become the world’s largest diamond trading center, but it will also spur development in the hospitality, recreation, real estate, and service sectors.
7) Knowledge City, Vadodara
The L&T Knowledge City in Vadodara, Gujarat, serves as a center for many of the L&T Group’s main businesses. The campus, which spans 112 acres, will cater to the hydrocarbon and power industries’ high-end design and engineering needs.
It will serve the upstream, midstream, and downstream sectors of the hydrocarbon industry, as well as provide design support for full projects in the power sector. The L&T knowledge city was planned and constructed to meet high environmental standards, with technologically advanced systems for rainwater harvesting, waste-water treatment, and efficient solar energy use.
The above-mentioned infrastructure projects are expected to support the industry at large in a scenario where real estate demand across the state of Gujarat has been improving noticeably every quarter. The prime aim of these infrastructural oriented projects is to connect cities, and give people a chance, to expand their businesses. This is directly related to the rise in real estate which makes Gujarat the perfect location to invest at this point in time as the future seems all things positive.
Commercial properties in Gujarat are getting more attention with these projects and making a clear signal for realtors to invest in commercial properties with the current market trend.
