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  • Over Rs 13,500 Crore Invested In 501 Projects In Gujarat In Three Months, Ahmedabad Tops With Rs 6,285 Crore

Ahmedabad44 minutes agoAuthor: Vimukt Dave

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After the Corona period, the real estate market of Gujarat has started gaining momentum again. According to the data available on the website of the Gujarat Real Estate Regulatory Authority (RERA), builders and developers have launched residential and commercial projects worth Rs 1,3508 crore in the last three months of the financial year 2021-22.

Out of the total projects launched during April-June, projects worth 6285 crores have been started in Ahmedabad alone. According to people associated with real estate, there has been a change in the mindset of people since Kovid. Now people are buying big houses instead of small houses. Because of this, developers are also gathering courage to take risks.

How many projects started in which city? (Context: RERA)

City accommodation commercial Mix plotting
Ahmedabad 50 23 78 3
Vadodara 57 11 34 4
face 20 11 9 6
Rajkot 37 15 9 2
Gandhinagar 12 3 20 5
Bhavnagar 7 2 9 5
Valsad 5 2 5 0
other 19 11 23 4

Better investment this year than last year

In a conversation with Dainik Bhaskar, Varish Patel of Arise Group, Ahmedabad, told about the investment in real estate that the demand for big houses has increased after the arrival of Corona. People living in 1-BHK are shifting to 2-BHK. The reason for this is that during the Corona period, only those people who had small houses had to suffer the most. Apart from this, upper middle class are shifting from flat to bungalow or farm house. Due to this change, builders are taking the risk of launching new projects. Apart from this, the demand for houses is more this year as compared to last year. This is also leading to good investment in real estate.

Upper middle class are shifting from flat to bungalow or farm house.

Upper middle class are shifting from flat to bungalow or farm house.

47% investment in Ahmedabad only
According to the website of Gujarat RERA, projects worth Rs 13,508 crore have been started since April in the financial year 2021-22. In this, Ahmedabad is at the top with an investment of Rs 6285 crore. After this, Vadodara with an investment of 2500 crores, Surat 1711 crores and 1135 crores, Gandhinagar is at number four. At the same time, talking about the whole of Gujarat, residential projects worth Rs 4,444 crore and mix (residential and commercial) projects worth Rs 6,919 crore have been launched. An investment of Rs 1962 crore has come in the commercial.

People of Ahmedabad are shifting here due to good facilities in Gandhinagar.

People of Ahmedabad are shifting here due to good facilities in Gandhinagar.

People of old Ahmedabad are shifting to Gandhinagar
Utpal Patel of Nakshatra Group of Gandhinagar says that people living in old areas like Shahibagh, Maninagar of Ahmedabad are selling their old houses and shifting to Gandhinagar and due to this many new projects have started in Gandhinagar. IT workers in Infocity and Giftcity are buying homes in Gandhinagar, especially around Sargasan, Raisan areas. Because of having PDPU, GNLU and IIT, now Gandhinagar has become a hub of higher education. Apart from this Gandhinagar also has good facilities as compared to Ahmedabad. Recently, many new lands have been prepared under town planning in Gandhinagar, so new projects are being started there rapidly.

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