Great Real Estate Opportunities in Prospering Jamnagar

Jamnagar is looked upon as one of the most significant cities in the state of Gujarat. The city has got a booster dose by the real estate boom of sorts, fuelled by a handsome investment of Rs 45,000 crore being put in development of Special Economic Zones (SEZs).The stretch Jamnagar and Jam-Khambhaliya is drawing large attentions from renowned real estate developers. Talking about construction activities, they are rolling in the stretch of Sikka till Moti Khavdi and beyond at Vadinar.

Jamnagar real estate is expanding with path breaking projects, which makes the city an ideal place to invest and live in. Seeing the hot investment scenario in Jamnagar, a multitude of property developers including the prominent names such as DLF, Parsvnath, and Rahejas are eyeing the plots in Jamnagar for construction purpose.

Rental returns are equally healthy in the city which can range from Rs 8,000 to Rs 15,000 per month for 2/3 bedroom units. Also, the increasing employment opportunities in the city are also pushing up real estate values in rentals in Jamnagar.

Staying in step is another peripheral location of Jamnagar, Jam Khambhaliya, where the rents are ranging from Rs 4,000 – Rs 8,000 per month for a 2/3 bed-room property.

Gujarat is also grabbing attention from the NRI populace settled in different overseas locations. The property developers in Jamnagar are just not designing exclusive schemes, but also establishing overseas marketing offices to woo the deep pocketed Diaspora. Property surveys classify Jamnagar and Gandhinagar as ‘delta cities’ or budding centers.

A View on Jamnagar’s Commercial Property

Jamnagar is seeing breakneck industrialization which has sent the rates for commercial and residential land in the city hurting through the roof. Areas on the outskirts of the city like Khambhaliya Road and Lalpur Road are talking of land prices in the range of Rs 500 per sq metre — a 100 per cent jump in a year and still rising.

The major boost to Jamnagar commercial property has been given by the Reliance’s upcoming refinery at its SEZ as well as Essar’s soon to be commissioned refinery and proposed SEZ, which have led a large number of people to look forward to this former princely city. Jamnagar is also to witness the development of glitzy shopping malls in the near future.

With such developments, Jamnagar is all set to emerge as the world’s biggest petroleum refinery centre by 2009. Commercial units in Pandit Nagar, Gurudwara Road, Lalbungalow have reached to Rs. 7,000 per square feet.

A View on Jamnagar’s Residential Property

The prices of residential units in Jamnagar have doubled in the past one and a half year. The surrounding areas of the city could also not remain untouched by this property boom.

Residential property in the city boasts of an exceptional “quality of life” for the residents. This is one of the reasons why it is selling fast. The rental market in Jamnagar is also looking up. The rental for a three bedroom flat in peripheral locations like Patel Colony, Panchvati, Sarva section road, Park Colony, Balkeshwar and Mahavirsinh area is going anywhere around Rs. 9,000 per month.

It is not at all difficult to mark out the reasons behind the real estate hotting up in Jamnagar. The large influx of engineers and employers for expansion of Reliance’s refinery, development of the SEZ and construction activity at Essar’s refinery off Khambaliya road are apparently giving a push to realty market in the city.