The real estate business in India is not only booming in bigger cities such as Mumbai and Bangalore but also smaller ones like Kolkata and Surat. Surat is the eighth largest city of the country in terms of population and is slated to grow further. Several infrastructural developments have been planned for the city such as the Navasari Surat Metro Railway which has further boosted demand for real estate properties in the city. Much of the upcoming residential projects in Surat are being demanded by NRIs for the infrastructural developments that are coming up.
There are several pockets of Surat where the residential property developments are at their peak. Vesu, Pal Gam, Palanpur Gam and Adajan are some of the areas where upcoming residential projects in Surat are centres. These areas are located close to approach roads and also the Tapi River. Their social infrastructure is well developed as numerous schools, hospitals, shopping zones and parks are nearby. The projects that are coming up occupy several acres and have large open spaces. Much of these open spaces are used up for constructing amenities that home owners want in their vicinity. New age apartment complexes usually have swimming pools, club houses and gymnasium within the compound apart from extra facilities, depending on the availability of space. These holistic developments attract the attention of HNI and NRI buyers as well who want to lead the same kind of lifestyle that they are used to or have seen abroad when they stay here.
The prices of these projects are significantly more than standalone residential communities. However, that does not deter buyers from snapping them up. Per square feet price in the upcoming residential projects in Surat are steadily increasing and those interested in investing in the city’s property markets, would reap good returns on investment. Unlike bigger cities, price correction is yet to hit the market in Surat which means sellers can fetch a good return on the investments that they have made.
Rajhans Realty is a reputed property developer of Surat which has won numerous awards and accolades. They have several upcoming residential projects in Surat in the top residential areas. Real estate in Surat is set to flourish further and investors realizing this; are pumping more money into these projects. It should not come as a surprise when in near future, prices of property in Surat would be comparable to those in prime locations of developed cities.