Surat – An Investor’s City

Surat – An Investor’s City

Surat, a city in Gujarat is one of the most rapidly growing cities in India. Well known as the diamond and textile province of the country, Surat over the past decade has grown as the sought after real estate investment destination for property in Surat. The city provides uncanny chances for investors who are crazy to buy residential properties.

Why invest in Surat real estate?

There are several factors that make Surat an attractive option for real estate investment, including the availability of 2 BHK flats in Surat:

• Vibrant economic growth - The city of Surat ranks among the top 10 fastest growing cities in India and possesses robust fundamentals. The drive in economic growth comes from the diamonds, textile and petrochemical industries.
• Implying more job possibilities - This flow of industrial production into diamond, textile and associated businesses also results in the migration into the state of professionals for work. There is growing housing demand.
• Good Accessibility - Surat enjoys good accessibility through the air, trains and roads to the major Indian cities like Mumbai, Delhi, Ahmedabad, Vadodara etc. The under-construction bullet train project will accelerate the connectivity further.
• Urban infrastructure - The Surat Municipal Corporation is a forward thinking organisation regarding urban planning. A large amount of money has been allocated to the development and maintenance of all types of civic facilities in the city.
• Demand-supply gap - While housing demand has increased exceedingly in the last decade, supply has not been able to come up to the mark and this has led to a demand-supply gap. This is what gives rise to the growth potential of investment.
• Affordable property rates - Property rates in Surat are still affordable compared to those in other major cities in the state like Ahmedabad and Vadodara. That means a value stock picking.

Residential Real Estate Investment Opportunities in Surat

Some of the popular localities to invest in residential properties in Surat, including 1 BHK flats in Surat:

• Adajan- A developed city centre with a mix of residential and commercial setup. The connection to the rest of the city is excellent. Property Prices Range from Rs.3,500 - Rs.7,500 per sq.ft.
• Athwalines- Located near the Tapi river, it offers No.Super Luxury Apartments, villas and row houses. Athwalines, which is well-known for its riverside beautification, is an appropriate location for a proposed mixed-use development. A positive aspect of capital appreciation is the property rates in this range Rs.5,500 - Rs.9,500 per sq.ft.
• Vesu- The first choice for anyone looking for a comfortable stay in the shape of deluxe apartments. Rates range from Rs.6,500 - Rs.14,000 per sq.ft. Vesu offers annual returns in the constant form which is beneficial for investors.
• Ghod Dod road- Emerged as a vibrant asset due to interactions with the surrounding areas. Affordable services by renowned architects are available with property prices ranging from Rs. 3,800 - and Rs. 6,500 per square foot.
• Surat Railway Station Area- There are a few redevelopment projects that are already undertaken in this area as part of the smart city mission. This option bears long-term capital appreciation prospects.

Things to Consider Before Buying a Residential Property in Surat

In recent years Surat temporarily turned into an economic capital of Gujarat. Moreover, nowadays it has become a popular real estate investment destination, with a notable demand for apartments in Surat. The city of Sarjano has achieved fast growth and development through refining diamond, textile and petrochemical industry. This has contributed to the increase of demands in Surat residential properties.

Buying a property in Surat is a very crucial decision that requires strong consideration. Therefore, some of the factors should be taken into account if you are planning to buy a home in Surat.

Connectivity

• One of the key features which we were searching for in a residential property in Surat was connectivity. It is best that the property is well located along a range of highways, railway and public transport infrastructure.
• Easy access to highways, highways and expressways in the city. Proximity and good connectivity to Surat’s textile market area, Sachin Industrial Area, Hazira, Magdalla Port and ONGC is a plus.
• Convenient means to reach railway stations, BRTS bus stops, and public transport facilities must be provided without any hassle, making it an ideal scenario for those looking to buy a flat in Surat.Central locations like Adajan, Athwalines, Vesu, Gopipura etc score high on connectivity.
• New roads have been developed to link the areas such as Surat Navsari Road, Bharthana Road, VIP Road, Bamroli Road which are better connected. Though it is better at the core, there is a lack of connectivity in peripheral regions like Bardoli, Kamrej, Olpad etc.

Developer

• The performance, credibility and experience of the developer have to do with timely completion of the project and the quality of construction.
• Prefer the projects carried out by the popular builders like L & T, Mandviwala Group, Sahara or Monarch Group and the projects with good market standing.
• Check out amongst past project building completion rates, builder ratings and reviews online before choosing the developer. Avoid fly-by-night operators.
• Confirm with the developer that the project is registered in RERA under a valid registration before reserving.

Location

Consider all the characteristics in terms of infrastructure, community services, habitability, and convenience when looking to buy a home in Surat.

• Choose nearby areas having good schools, hospitals, parks, malls, markets in a wider scope or focusing on the project.
• Try to find the area where you don't face water cut and electricity tripping and you see the garbage thoroughly picked from the streets.
• Evaluate from the livelihood point of view the amount of the noise pollution levels and the quality of the surroundings.
• A walk to work from an infrastructure base is an advantage of both convenience and hours saved from commuting.

RERA Verification

RERA provides protection to end users and ensures they are not fleeced by rogue developers.

• Ascertain that the project is registered under RERA rules and regulations of that state Gujarat.
• The developer should display the RERA registration number in a very conspicuous place on the project website, advertisement and brochure.
• Registration serves to guarantee on-time completion and compliance with contractors’ quality standards.
• And in the case of disputes, buyers are empowered to lodge their complaints to RERA and claim for compensation.

Making the right property purchase decision requires research and due diligence across above parameters. Evaluating connectivity, developer reputation, location fundamentals and RERA compliance will help identify the ideal residential project in Surat that caters to your requirements. It will ensure your hard earned money is invested into a property that holds long term livability, appreciation and financial returns.

Conclusion

In conclusion, Surat stands out as a promising destination for real estate investment, thanks to its strong economic growth, expanding job market and strategic connectivity. The city’s commitment to urban infrastructure development makes it more attractive to potential investors. With a variety of residential areas offering affordable housing, Surat offers a golden opportunity for those who want to buy a house in Surat or to invest in houses or real estate. However, it is important to approach this decision carefully considering factors like negotiation, developer reputation, location benefits and RERA compliance. Do your homework and analyse these important factors so that you can make an informed decision as it will ensure that your investment in Surat real estate market is safe and profitable. Whether you are a first-time home buyer or an experienced investor, Surat real estate has something to match your goals and expectations, promising a comfortable lifestyle and greater potential benefits.