Rajkot: Emerging Investment Oasis
Gujarat is seeing rapid growth and transition in the realty sector. After Ahmedabad and Surat, Rajkot is experiencing surge in realty market, witnessing an increasing demand for real estate for the past few years. As Rajkot gears up as the next potential destination for service sectors like IT and ITes, its strategic location and connectivity to other significant places are attracting investments.
“Rajkotis witness to an emerging demand for premium and luxury homes from the niche segment of the society mainly consisting of businessman, HNI’s and NRI’s,” says city-based property consultant Mayur Modi from Top Real Estate Management & Constructions. Latching on to the demand from moneyed class, builders in Saurashtra’s commercial hub are now constructing what they call ‘multi-storeyed bungalows’. Residents in these lavish apartments can take their cars right up to their 10th floor apartment and park it next to the living room.
According to market sources, at least 10 such apartment schemes are coming up in the city where, besides amenities like garden on each floor, the owner can take their cars up to their doorstep using a special elevator. These residential apartments are spread over 3,500 sq ft and 500 sq ft space is allotted for car parking. The high-rises are coming up mainly near Nyari Dam, Nana Mava, Awadh Road and Kalavad Road.
An architect and real estate developer, Ishwar Gehi , who first designed such ‘multi-storey bungalows’ in Panchvati Society, said, “Parking is becoming a serious problem which only looks like getting worse. So, besides luxury of parking their cars beside their apartment, owners are also assured of the vehicle’s security.”
Apart from such luxurious houses, there are exclusive multi-storeyed hotels, glitzy shopping malls, all of which together indicate towards a booming economy which is poised at the crossroads and serve as a centre of attraction for people across the country.
Large number of non-resident Gujaratis (NRGs), whether UK or USA based are looking forward to set foot in the state with large funds in Gujarat properties. Such an interest shown by NRGs in real estate back home has attracted many a builders in dusty Saurashtra towns of Rajkot.
Rajkot no longer carries its conservative image and has undergone a mega lifestyle change. With the emergence of large exclusive malls, big food courts, and beverage chains, Rajkot retail market is going the metro way. The city glimmers with the presence of retail majors like Pantaloon and Big Bazaar. Also, the coffee culture is brewing well with Café Coffee Day and Senso, a coffee shop at Hotel Imperial Palace.
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