Adajan in Surat Proves an Upcoming Residential Market
Ever since Surat has emerged as one of the fastest growing Tier II city, several areas have been witnessing booming realty. Adajan realty is one of the fast growing micromarkets in this city. This is primarily due to the infrastructure growth and the improved connectivity. The area witnessed an increase of 14 per cent in property values in the last two years.
Location and accessibility
Adajan is situated in the western part of Surat and on the banks of Tapi River. There are several important highways passing through Adajan. The National Highway 6 passes through the area connecting it to other cities such as Nagpur in Maharashtra and Kolkata in West Bengal. Rander Road, which is an important arterial road in Surat, passes through the area. The area is also close to few other state highways. There are a couple of bridges that connect other areas across the river to Adajan.
Adajan has a couple of bus stops where there are regular local buses. The upcoming BRTS is expected to improve the accessibility to the area. The Surat railway station is about 8 km away from the area and the airport is about 13.5 km away.
Infrastructure
Adajan has been witnessing growing infrastructure for a few years now. Due to its proximity to the Tapi River, it has good supply of drinking water. There are several schools and colleges such as Presidency School and Navyug Arts College in the area. There are hospitals such as the Apollo Clinic and Wings Hospital within the vicinity. There is a Star Bazaar and other retail shops, banks, parks and commercial establishments. The Rajhans Multiplex is a cinema complex in Adajan. Marvella Mall is a shopping mall present in the vicinity.
Real estate trends
The improving infrastructure has led to a good development of residential real estate in the area. There are already several housing societies available in Adajan. There are builders such as Solitaire Developers and Mandot Buildcon active in the area. Most of the projects available are 2 and 3BHK apartments of covered area 1,050-1,700 sq. ft. Most of the projects are also ready to move in. Hence, the area is suitable for end-users.
The approximate cost of a 2BHK property is Rs 30-50 lakh while that of a 3BHK apartment is about Rs 40-50 lakh. The property values have been on a good growth curve in the last two years. The average property value during the first half of 2012 was about Rs 2,800 per sq. ft. and it was about Rs 3,200 per sq. ft. during the first half of 2014, indicating an increasing of about 14 per cent in the last two years.
With improving infrastructure and more projects coming up in the area, Adajan realty looks attractive for people who want to settle down in Surat.
