Vadodara Real Estate Surging Strongly

Earlier known as Baroda, Vadodara is the third most populated town in the Indian state of Gujarat after Ahmedabad and Surat. It has a populace of over 1 million. As compared to the metros which are already saturated in terms of real estate development and prices, smaller cities are doing better business. And, Vadodara is among the same.

Real Estate Trends in Vadodara

Commercial: The Vadodara Urban Development Authority has signed MoUs worth Rs. 3.425 crore with different construction companies for real estate projects including establishment of residential segments, IT parks, and office spaces around the city.

A Singapore real estate company has come up with a proposal of developing a Special economic Zone (SEZ) on 550 acres of land in Vadodara. Once the SEZ is in place, property prices in Vadodara will hit the sky. The announcement has encouraged a number of real estate agents and investors to buy properties in Vadodara thereby securing healthy returns for future.

Known as the cultural capital of Gujarat, Vadodara enjoys great advantages mainly because of its strategic location. Also, this is a reason for a boom in Vadodara real estate. Few years back, no one could imagine such a bright future for Vadodara Properties. The city will soon be a home to India’s biggest IT parks and would be counted among the cosmopolitan cities.

Residential: Housing segment of Vadodara has grown in leaps and bounds, particularly in the last coupe of years. With establishment of more manufacturing industry in the city, people who have migrated out in search of good job prospects are coming back. This has brought a reason to smile for property developers in Vadodara.

The bungalows have for years been home to elite class of the city and are now wooing the Non Resident Gujaratis (NRGs). Some locations in the city such as Mandvi area has independent residential bungalows with all basic facilities and are available for Rs. 15,00,000 – Rs. 25,00,000.

A two room bedroom apartment in Vadodara with a carpet area unit of 850 sq. ft. will cost around Rs 7, 00,000 to Rs 8, 00,000.

Retail: For the past few time, retailing in Vadodara has been on a roll. Earlier, it missed out the retail bus but is now leaving no stone upturned to catch up the pace.

Upcoming Real estate Projects in Vadodara

Residential Complex:
Narayan Housing is to pump in Rs. 500 crore to develop a Rs. 520 crore housing project at Hanumanpura. Following in same footsteps is Siddhi Vinayak infrastructure which has plans to come up with a housing society at Jambu village off Makrapura on the Mumbai Highway.

IT Park: L&T has proposed a Rs. 600ocror technology park in Bapod-Ankhol. Envisaging carving the same niche is Parkway Realty which is all set to build a IT park in Dena and Nimeta.

Bio IT Park:
The famous Mumbai based real estate developer Akruti Nirman has signed a MoU to develop a Bio IT park on 708 acres of land in Savli, Vadodara. The company is holding high talks with different companies to set up the facilities at the Park.

Shopping Malls:
The Kalani Group is to set up an exclusive mall cum multiplex on a large area of 3.5 lakh sq. ft. in Vadodara as part of its retail development plans.

With such prospective development projects, the growth in Vadodara real estate is certain to accelerate in times to come.