The Overwhelming Growth of the Surat Real Estate Market

The Surat real estate market has grown by leaps and bounds in recent years. This is mainly due to the fast pace of development that the major cities of Gujarat ha residential and commercial properties we witnessed. The winds of change have blown harder ever since Chief Minister Narendra Modi historically assumed office as the Prime Minister of the Nation. The new Chief Minister and Government are looking at further growth and development of Surat, Ahmedabad and Vadodara among other cities. Being one of the three major nodes for infrastructural, financial, manufacturing and business development, Surat’s realty market has benefited immensely indeed.

Newer business investments and the advent of several townships and corporate conglomerates have led to huge demand for both residential and commercial properties alike. The Surat real estate market is now estimated to be flourishing by almost 8-10% every year and industry experts estimate similar figures for the last four to five years which gives an insight into Surat’s staggering progress. The real estate market has done fabulously well when it comes to residential properties but of late, there has been a subtle shift to commercial properties in the market. Demand levels have gone up considerably for the latter in the last few months. Commercial property plans and proposed complexes occupy almost 1/4th of all planned developments in the Surat realty arena. Despite a tiny slowdown in sales of residential properties, major developers are not really complaining with subsequent demand for office space. According to market experts, increased economic activity in the area has led to the creation of genuine demand for commercial spaces and other complexes. Additionally, experts also list another important factor behind such growth, namely the shift of investors towards drawing guaranteed incomes from their properties by leasing the same and hence such a rapid shift to the commercial segment.

Costs of projects are held to be lower when it comes to developing commercial properties and complexes. As a result, profitability is really high for developers and this has certainly been a shot in the arm for most of the city’s leading realty companies and infrastructure specialists. Commercial property sizes are small and selling them is way easier in comparison to residential units. Additionally, it is not hard to find investors for commercial properties in the Surat real estate market of late. This is because of the propensity of investors towards quicker and guaranteed profits from realty investments. Demand for commercial space has even grown in newly developing localities like Parvat, Dindoli and the Puna-Kumbhariya Road among others.

Rajhans Realty is meeting this huge demand for commercial property in Surat with innovative projects including the state of the art TEXPA or pioneering textile park which will revolutionize Surat’s textile industry with quality infrastructures and amenities. This park adheres to global standards and environmental guidelines and covers a whopping area of 90 acres in all. The project is being executed by a team of professionals from India and several parts of the world. The project offers new age amenities along with unparalleled connectivity and is set to be a commercial landmark in Surat for sure. Rajhans Olympia is another masterpiece that is being developed at Surat’s Bhatar Road and should certainly hook visitors with its Vastu compliant layout and innovative architecture. Some major attractions include sufficient parking facilities and premium bubble lifts among numerous others. This commercial complex offers a central location and galleries displaying the world’s biggest and best brands.

Rajhans has recently completed Ornate, an innovative commercial concept that is poised to change the face of high street retail in Surat with luxurious features, amenities and of course, rich shopping experiences for discerning customers in the city. Rajhans has also successfully executed the Bonista, a landmark commercial hub that should attract lifestyle connoisseurs with technology, amenities, fabulous connectivity and a bustling ambience. The complex has global brands, lifestyle fashion, top class dining facilities and corporate office space provisions in store.

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