Gandhinagar Residential Realty on Rise

Gandhinagar, the capital of Gujarat, is known as a business and trade hub of Gujarat, and not much for its residential real estate. The current real estate hotspots in Gujarat include Ahmedabad, Vadodara and Surat. However, Gandhinagar residential realty sector is making a slow entry due to its growth.

Business growth leads to realty growth

Gandhinagar has made a name for its trade and business development. The IT and electronics industry too have seen a boom in recent years. There are several SEZ and IT parks in Gandhinagar. Some of them include the Electronics Special Economic Zone, the Gujarat International Finance Tec-City (GIFT), Software Technology Park of India and a variety of industrial parks. The GIFT is expected to provide employment to lakhs of people in Gujarat. It is also said to be one of the biggest industrial initiatives in India.

This boom in the IT and electronics industry has led to the growth of residential market in the city. Other factors that support this growth in real estate is the growing infrastructure in the city. There are good basic amenities such as drinking water and electricity, good roads and the Bus Rapid Transit System (BRTS) between Gandhinagar and Ahmedabad.

Social amenities support residential growth

Apart from a good civic infrastructure, there are several social amenities that support residential real estate in the city. The city is very well planned and organised. There are several primary, secondary and higher educational institutions. There are hospitals and health care centres. The city has Indroda Nature Park as well as Indroda Dinosaur and Fossil Park. There are water lagoons in the park with facilities such as swimming areas, boating and bathing. There is a regional sports centre proposed in the city. There are several other recreational areas proposed in the city.

Realty in Gandhinagar

All these facilities have attracted several builders to the city. There are several builders such as Bansal Infracon, Swagat Group, Godrej properties, Adani Group, Sanskar Infracon and Shubh Infrastructure coming up with various projects across the city. The most sought-after areas include Infocity, Sargasan and Kudasan. Though the city is witnessing an increasing number of projects with various configurations, the property values are within the affordable range. For example, a 1,000-sq-ft apartment costs an approximate Rs 20-25 lakh. The average property value across different areas in the city range between Rs 2,500-3,600 per sq. ft.

Considering the different aspects of the city such as growth in industries, social amenities, infrastructure, affordability and increasing residential projects, one can say that Gandhinagar residential realty is currently on the growth path.