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Real Estate Prices on ‘The Hot Ring Roads‘ to go down or at least wont appreciate
Posted on Jun 13, 2012 in Uncategorized | 12 comments
First it was the office buildings and now it’s the markets. OLD is no more Gold on Ring Road real estate.
WTC and Empire estate buildings were like the iconic office space of the Surat City. But when there was a better option of International Trade Centre on Majuragate a whole lot of people shifted to a better and new infrastructure from those 2 buildings.
And now again many businesses are expected to move from ITC to the soon to launch ICC – International Commerce center on Majuragate or even on Union Trade Centre on Udhna char rasta.
The same is happening to the textile markets. Surat Textile Market the king of all textile markets in Surat is not the place where the new generation will want to carry on. The 30 years old textile market is twice-thrice costlier then new textile markets in around Surat which are load with amenities’ required to run the business better.
Tex Pallazo Hotel @ Surat Textile Market
The End of the growth of Surat’s leading business area ‘THE RING ROAD’ is soon to happen probably in next 5-10 years. The generation next is not ready to work in 25 years old infrastructure where they can’t even park their own vehicles. The main problem of not shifting was the ideology that customers will not come to new markets easily but even if 10-20% of the people move; there will be a huge number simply following them at the new infrastructure place.
The price of the old textile markets will go down
- Because people are moving to newer places
- With a fear of not getting a good price if they holding the old shops which has more supply then any demand
What happens if the textile markets move away from Ring Road (Even 50%)
- The big problem of carrier vehicles will be solved. They will now move slightly out of Surat and the density of these tempo’s and trucks will distributed in bigger and faraway places
- People from main city will gradually change their residence to near by the new places of employment
- More than 1 lac people will change their working destination which will increase prices in the outskirts of the City
- The prices of the old markets and old city residence will decrease 10-25% down or at least remain stable for long long time due to lack of demand
- New area’s will spread lot more because the transport facilities / roads are already good. The outskirts will see price hike appreciated 10-20% every year. The prices in old apartments and societies will remain stagnant
- With lower rentals and lower property prices the businesses operational costs would decrease which might help in getting products cheaper and thus help the growth of the textile businesses.
- Daily Traffic problems between Station and Athwagate / Bhatar will reduce.
- {Real Estate Investors investing in this area lately can see a negative ROI and those invested long time back will be losses in their profits}
Ideally speaking government should intervene and take measures so that these businesses move out of the city which will be for betterment for all.
when move textile market from ring road.surat pls inform
information fore move textile market from rina road .surat