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Surat’s real estate market growing at double digit


Indian economy is experiencing various upheavals due to various political issues and other problems acting as potential cause for slowdown in economy. But the sector which needs our attention is the Surat real estate market which is glittering just like its diamond industry. We state this fact from the inferences drawn from the price index for residential property published by National Housing Board every three months. This property index is known as Residex.

While all cities of India has shown negative growth rates in real estate sector, its only Surat posing a double digit growth rate of 11%. This is as per the figures of Residex for 2011-12.While on the other hand the year on year rise in real estate prices is as high as 44%. Thus the prices are sky high and the market is booming.

People say that Surat soon will have infrastructure which would be competing with Ahmedabad. And bothe cities Ahmedabad and Surat will be equally preferable for investments. With cities like Mumbai reaching a level of saturation in terms of land availability, its now the turn of tier two cities with enough investment and growth opportunities.Surat’s real estate market is becoming so strong that even when Ahmedabad showed a minimal growth, it was surat standing at a double digit growth rate of 11 percent.