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Burgeoning Real Estate in Surat

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					Surat, popularly known as 鈥楾 he City of Textiles 鈥? is the 8th largest and the 2nd
cleanest city in India. Not only is it a commercial hub of the state of Gujarat but of the
entire country as well just next to Mumbai. With swift paced developments across all
sectors, real estate in Surat seems to be blooming at its best. From developers to
investors in both residential and commercial segments, everyone is taking interest in
property market of the 鈥楧 iamond Capital of India 鈥?
 Even though Surat is known worldwide for its diamonds and textiles, silk and
chemical industries also contribute significantly to the economy. Besides this,
National Council of Applied Economic Research (NCAER) and Future Capital
Research's Roopa Purushothaman have declared households in Surat as the most
prosperous in India in their latest study. Such growth and affluence in the city has
intrigued interest of investors from both within the country and outside. Surat Real
estate is gaining attention of local as well as national developers and they are now
coming up with various residential, commercial and retail projects in the city. The
realty developments in the city are in initial stages but this is what makes it an ideal
investment destination for property investors. Since, growth in Surat property market
has begun recently, the property values are certain to double up in coming times. It
promises to yield great returns to those who invest today since developments in
various areas are soon going to spiral up the realty costs across the entire spectrum.
 Apparently, Indian realty market is growing by leaps and bounds since it has gone
beyond developments only in metro cities. The entire country is bustling with large
scale construction activities be it a metropolis or a tier-II city or even tier-III & IV city
including towns and suburbs. In fact, in many cases, developers and investors prefer
smaller cities owing to the lack of opportunities available and the sky rocketing prices
of property. The saturation of Delhi real estate , Mumbai and Bangalore has boosted
property markets of areas in proximity to these cities like NCR, Navi Mumbai and
Mysore. While some developers are engaged in building properties in these
surrounding areas of metropolises, others are scouting for locations that offer huge
potential for land development. As a result, various cities like Surat, Chandigarh,
Ludhiana, Lucknow, Guwahati, Kochi, Nagpur, Jaipur, Indore among others. Realty in
Surat and Ahmedabad is especially in high focus in the state of Gujarat as they are the
most active business centers of the state.
 Surat is a tier-III city, home to rich people with naturally high purchasing power as a
result of its commendable average AHI (Annual Household Income). This means that
the citizens are looking for quality housing and luxury living even if they have to shell
out some extra money. As a result, property developers are launching luxury houses
equipped with various modern amenities and other facilities like 24-hour security,
swimming pool, health club, play areas, etc. Such premium apartments in Surat are
expensive obviously owing to the world class facilities, the potential for high returns
and the leading builder names attached to them. Along with luxury housing,
residential property in Surat is also witnessing construction of affordable housing
projects as prevalent in the country.
 The development in property in Surat is not limited to its residential segment but is
also extended to commercial sector with various IT companies setting foot in the city.
The concept of organized retail seems to be getting popular with time as consumers
show thumbs up to the mall culture. The upcoming shopping malls and multiplexes in
the city are a sure shot proof of their acceptability.
 Deepika Bansal writes on behalf of 99acres.com, which is an internet portal
dedicated to meet every aspect of the consumers needs in the real estate industry. It is
a forum where buyers, sellers and brokers can exchange information. At 99 acres, you
can advertise a property in India ,search for a property, browse through Surat property
& other Properties.

				
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