Vesu Witnesses Good Number of Housing Projects
Vesu is a locality on the outskirts of Surat. It is also one of the localities in Surat, witnessing a large number of upcoming residential projects in the city. This is mainly owing to its good connectivity to other localities and industrial areas.
Location and connectivity
Vesu lies on the south western side of Surat on the state highway (SH) 168. The state highway connects Vesu to localities such as Sachin and Udhna as well as other cities in Gujarat. The area also lies beside Tapi River and in proximity to National Highway 6. Apart from these important highways, the ONGC Nagar and some important industrial estates are in the proximity of the area.
The Surat Railway Station is about 16 km from the area. The area has a couple of city bus stations and regular bus service to the area. Other than that, there are regular rickshaws and taxis.
Social amenities
Vesu has good social amenities as well as a good civic infrastructure. Due to the nearby Tapi River (alternately Tapti River) and Mindhola Creek, the locality has a good drinking water supply. There is also good electricity supply in the locality as well as good roads. Vesu has a water supply scheme in the locality.
There are several educational institutions such as Kendriya Vidyalaya and Veer Narmad South Gujarat University within the vicinity. There are different departments such as Centre for Social Studies and Dept. of Business and Industrial Management in the university. There are also some hospitals in the proximity. The area has a Reliance Mart and Reliance Market in the area. The locality has other facilities such as coffee shops, banks, ATMs and commercial centres.
Real estate trends
Vesu is witnessing a number of residential projects due to its connectivity and proximity to industrial estates. The ONGC industrial area, Unity Industrial Estate and Prince Industrial Society are some of the industrial areas nearby. The other factors that attract developers are the good civic infrastructure in the area. Some of the developers active in the area include Happy Home Group, Raghuvir Developers & Builders and Aakash Group. The most common configurations available here are 2, 3 and 4BHK apartments. The covered area of a 2BHK apartment is approximately 1,000-1,100 sq. ft. whereas the covered area of 3/4 BHK property is approximately 2,200-4,100 sq. ft.
The approximate cost of a 2BHK apartment is between Rs 25-35 lakh, whereas the cost of a 3BHK apartment is about Rs 60-65 lakh. A 4BHK apartment may cost more than Rs 1.2 crore. The approximate value is about Rs 3,500-3,800 per sq. ft. Property values have been continuously increasing for the past three years. The average property value in 2011 was about Rs 2,400 per sq. ft. while it was about Rs 3,600 per sq. ft. during the first quarter of 2014, marking an increase of 50 per cent in three years.
With the growth in Surat and improving infrastructure due to measures such as BRTS, one can expect the infrastructure to further grow in Vesu, leading to a growth in demand as well as residential projects in the area.
