Gandhinagar – Surging Ahead in Real Estate

Gandhinagar is Gujarat’s new capital city, located on the west bank of Sabarmati River. It is also known as commercial and cultural heart of the state. The transformation the city’s real estate has shown is indeed remarkable. Let’s take a look at its property trend.

Commercial

Big Cities have reached their saturation. Now, it is the turn of smaller cities to make the mark in Indian real estate. Commercial property in Gandhinagar still remains affordable which is why builders and companies are purchasing property here for setting their manufacturing units and operational areas.

Gujarat government has allocated a large stretch of land between Koba and Raysan for the development of knowledge based institutions such as Law University, Gujarat Institute of Disaster Management and others are expected to set up on the stretch. Such activities have brought a sharp appreciation in the land prices. They are now Rs. 5,000 per sq yard.

Nowadays, the real estate developers are eyeing the road connecting Ahmedabad airport to Gandhinagar. They are planning to come up with IT facilities, hotels, and educational /research institutions on this stretch. Its proximity to two major cities and excellent connectivity is one of the major reasons attributing to its growing popularity.

Gujarat is now soon to become the next IT hub and therefore the prominent property developers Raheja and DLF have shown interest to build IT parks in the State. With a number of software majors and BPOs lining up to Gujarat, the sector is likely to create a pool of jobs in the State. And, Gandhinagar will be the crucial location in the entire scenario.

Retailing in Gandhinagar is also on a roll. The arrival of mall culture and high end living are apparent in this commercial capital of Gujarat, which is further being boosted by changing consumer behavior coupled with rising incomes.

The Sarkhej-Gandhinagar Highway, commonly known as S.G Road, connects the city of Ahmedabad with Gandhinagar. It is a primary artery of commerce and public transport, and is witnessing a major construction boom along its route to Gandhinagar.

A multitude of sprawling shopping malls have come up featuring exclusive stores like Westside, Lifestyle, Globus, and Croma. Also, ISCON Mega Mall, one of India’s largest malls, would be soon coming up on this road.

Residential

Demand for residential property in Gandhinagar is still prevalent and it will remain the same even for the next few years. Property prices in Gandhinagar have seen a huge surge across the residential segments.

Undoubtedly, Gandhinagar presents the spacious, elite look of an architecturally integrated city. The city has bloomed into a perfect township anchoring beautiful residential complexes and buildings with simple but striking facades.

Gandhinagar itself is a quite an alluring city, being extremely well-planned and organized. There are wide open green parks, extensive planting and a large recreational area along the river rendering it a lush green garden-city atmosphere. This attracts and has attracted most builders to look up to the city.

Upcoming Real Estate Projects in Gandhinagar

Residential Complex: AVS Developers will soon be coming up with a residential complex at Koba, Gandhinagar.

IT Parks in Gandhinagar: Raheja Group has plans to develop an IT park near Gandhinagar drawing investment plans of Rs. 3,000 million. Following in footsteps is the real estate giant, DLF, which has also bought a land near Gandhinagar for the construction of another IT park.

With reviewing the progress made in the implementation of IT sector and leading footsteps of competitor, other real estate biggies such as Emmar Group is also planning to jump in the race soon. The group is holding talks with the State Government to develop an IT park on the Gandhinagar knowledge corridor.

Development of SEZs: While Kalika Construction is planning for an IT SEZ near Gandhinagar with an investment of Rs. 3,500 million, Adani Infotech is setting up an IT SEZ encompassing an area of 50 acres involving an investment of Rs. 4,000 million.

Ganesh Housing has also identified land in Gandhinagar for another IT SEZ to spread over an area of 120 acres.