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Why Surat is hot for real estate investment?

1.    In Surat the real estate deals still has 20-50% cash component. Thus there are zero incidents of people going default for any kind of property loans.

2.    The price of property in Surat is still way lower than most of the developing cities of India in spite of Surat having higher GDP and increasing number of migrants then those cities.

3.    There are great number of NRI’s who belong to Surat or nearby villages. These people have also started keeping a home in Surat which they can use when they are visiting Surat for holidays, family functions and other reasons.

4.    Being a commercial hub the commercial properties have always been a safe bet

5.    For residential properties the ratio of real user and investors is too low compared to other cities of India, while in commercial properties it’s even lesser

6.    Big brands of real estate have not penetrated in Surat yet due to a bigger portion of cash component in land transactions and other reasons; thus only local players which are comparatively smaller with lesser number of towers only prevail in the market. Thus there isn’t too much over supply.

7.    A big market for week end home or farm house prevails in Surat as there is a huge pool of rich people who will opt for these second homes.

8.    The people of Surat has always been enterprising and thus old industries keep on flourishing and new industries keep on developing which increases the skilled and un skilled people from different parts of the country.

9.    Surat is the only City in India with practically zero un-employment. In fact it’s always in short of work forces in various industries.

10. Lately the Airport has started picking up with new flights and thus many new investments will continue to come to Surat

11. Finally Surat belongs to the State of Gujarat which has the most development oriented chief minister in whole of India.

Other Facts of Surat which makes Surat prospective for Real Estate Investment

*The average annual household income is Rs 4,57,000 – the highest in the country.

* Surat has around 10,000 diamond cutting and polishing units which have a total daily turnover of over US$ 10 million. 1.5 million people employed in this industry.

* 1 million people are employed in the textile based industries of which 80% are from outside Surat.

* From 2001 to 2011, in 10 years, the population of the city has gone up by 20 lakh or 71%. There are 20 lac migrants from Uttar Pradesh, Rajasthan, Bihar, Madhya Pradesh, Orissa, Maharashtra and even the southern state.

* GDP of Surat is around 11-12% since last 7 years

Visit http://en.wikipedia.org/wiki/Surat for some other information about Surat.

No matter how hot you find a property; you should still go by business fundamentals. Research hard! After all it’s your hard earned money and you should get the best from it.

Please share your views on the positive and negative sides of Surat real estate markets below.




  1. Jawan says:

    Surat now has emerged as Real estate hub. But still main hurdles are great delays in approval of TP Schemes in extended areas of city. Further outer ring road is extreamly needed to smoother satelite access. If SMC focuses on basic infrastructure on outskirts of surat, developers can easily set up new real estate projects. Today Pune, Banglore, Gurgaon, noida are way ahead proactive in land developement. Surat further needs improvements and fast clearence. Still Surat is the best city to live in and enjoy.

    Reply
  2. Rakesh Sanghvi says:

    I heard lots of praises of Surat and I do agree with it to some extent. But when it comes to traffic and civic sense Surat Sucks Big time, the people here are either extremely selfish, illiterate, simply idiots or morons or may be combination all.
    How can a city grow, when people with even Mercedes drives wrong side wihtout any guilty feeling. Two wheelers drivers dont know that going wrong side is wrong. You get a dirty bhai log type stare if you dont give way to people coming wrong side.
    Name any building where this ‘Ma Ke Lal’ doesn’t make the walls and floors red with their pan parag ghutka pichkari. Any person who has seen the world around will just say one thing whole day in Surat. WTF you just cant live in this city…

    Reply
  3. Punit Agarwal says:

    I totally agree with Rakesh. I am residing in surat for last 4 months and the civic sense here is really pathetic. I got my car from Mumbai 2 months back and I have to drive her so carefully here.

    I think Surat traffic control is totally responsible for this. There are no fines on wrong side driving although it is the most dangerous way of driving. There are hardly ne fines on jumping the signals.

    Total indiscipline and chaos on the road. Anybody who is reading this and drives in Surat, do your bid by engaging some discipline in your driving sense.

    Thanks and Regards,
    Punit

    Reply
  4. Hemant says:

    Hi Punit & Rakesh,

    I completely agree with both of you guys but then this is the case with most of the cities in India !!You can not compare even Mumbai or Delhi with western countries.

    But yes the attitude of the people specially those who have business in city ( mainly migrated from north gujrat)is really bad & egoistic.

    My native is Surat & I used to visit it 2/3 times a year till 1998 but now when I go & see it appears to be different city ( of course good infra) in terms of people’s attitude !!as you have mentioned people in the area of Varachha do no follow any discipline & if you drive your vehicle in that area they will not give you a way & pedestrians also are in a search of chance as if they want to screw you if you honk them !!City is good but migrants have spoiled it

    Reply

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