Budget 2015: Rs 1,200 cr for fast track corridor between Ahmedabad and Mumbai
Rs 1,200 crore has been announced for fast track corridor between Ahmedabad and Mumbai.
It is no hidden truth that Industrial corridors have a huge impact on the industrial real estate of the country. Each corridor passes through various existing industrial clusters and towns and cities that are likely to become investment hubs. Thus, once completed, the real estate growth at India’s hinterlands, connected via these corridors, will be exponential.
Source: RealInsights @ CommonFloor.com
Table 1: Showing Cities in the Impact area of the Fast Track (Ahmedabad-Mumbai) Corridor Development
Source: RealInsights @ CommonFloor.com
Ahmedabad: Ahmedabad is considered one of the next biggest real estate market after Tier 1 cities. Rapid industrialisation, proposed infrastructure development, good connectivity, GIFT city (one of the 1st Smart Cities in the country), expressways etc. are an added advantage. The key areas to witness growth in the short term include areas in and around S. G. Highway, Satellite and Jodhpur.
Indore: Real estate growth is likely to gain momentum here in the coming months. Besides the ‘Smart City’ tag, the much hyped ‘Super Corridor’ is another big reason for realty growth here. Furthermore, the localities around Super Corridor have transformed into a hub for real estate development. These include areas in and around Mhow, Rajendra Nagar and Ambicapuri.
Nashik: Nashik has emerged as a favourable second home destination for those living in Mumbai and Pune. The city enjoys proximity to both these cities and property values are also less in comparison. The ongoing DMIC project is expected to positively influence the realty market here in the near future Strategic location and agriculture-related activities are also leading to growth. Key areas to watch for in the short term include areas in and around Swaminarayan Nagar, Matosree nagar and Gole colony.
Vadodara: Besides having political advantage, the city is an emerging IT hub and boasts of excellent infrastructure development. Major infrastructural developments are planned in the city coupled with IT hubs and industrial areas, which shall lead to increased employment opportunities and improved connectivity. The DMIC passes through Vadodara, making it a key destination for industrial investments. The key areas are in and around Madhavpura, Govardhan, Mahesh Nagar and Kamla Nagar.
Dholera: Its location along DMIC and the ‘Smart City’ tag makes it one of the high potential growth regions for realty development in the near future.
Jaipur: Unparalleled connectivity and round-the-clock infrastructure development are two parameters of growth in the ‘Pink City.’ The advent of the metro and the ‘Smart City’ label has added to its advantage. Areas in and around C-scheme, Ram Bagh, Bani Park and Tonk Road are high potential areas.
