Surat, a port city previously known as Suryapur – has an amazing chequered history, great food, and a bustling commerce industry. The economic capital of Gujrat, the city is also the administrative capital of Surat District. A land of opportunities is positioned around 284 kilometres of the state capital Gandhinagar, 265 kilometres south of Ahmedabad and around 289 kilometres north of Mumbai. Strategically located around 22 kilometres to the south of river Tapti, Surat has transformed to being one of the cleanest cities in India and is the second largest in the state of Gujrat in terms of size, after Ahmedabad. In addition to this, it is the eighth largest city and the ninth largest urban agglomeration of India.
With narrow roads and historical structures, Surat is the 34th largest city by area and the 4th fastest developing city as per the study conducted by the City Mayors Foundation, an international think tank on urban affairs. Due to the aforementioned positives, it was also declared as one of the twenty smart Indian cities under PM Narendra Modi’s flagship Smart Cities Mission. These ongoing developments have created a boom in the real estate Surat sector as investors, developers, and end users are equally keen to participate in this profitable zone of the county. This has resulted in the construction of multiple residential and commercial structures along with an escalation in the sales in the both the realty segments. If you are looking for property in Surat, you may find a variety of residential options depending upon your budget, location and type of property required.
Real Estate in Surat
Property prices in Surat are averagely on the higher side in comparison to other Indian cities but have a good spread of properties ranging from affordable apartments to opulent spacing 3-4 BHK apartments to builder floors and residential plots. Availability of inventory in wide range has made buying residential property in Surat easier. Due to the participation of proficient real estate builders and easy access to online portals like 99acres.com, the housing industry in Surat is expanding at a rapid rate. Surat has witnessed flocking of NRIs who are interested in residential as well as commercial properties. NRIs are making large investments in projects like residential townships so as to avail maximum profits from Surat real estate in the coming years.
Below is the list of popular residential localities of the Surat:
Below is a list of popular rental localities of Surat:
Types of popular residential properties in Pune
Pune offers a wide range of properties ranging from commercial structures to affordable one BHK apartments to premium 2-3 BHK residential complexes and opulent spacing 4-5 BHK independent villas. Developers are coming with projects which cater to users and their requirements. In terms of demand, apartments continue to be the favourite amongst all residential property types in Pune. Residential localities like Wakad, Wagholi, Undri, and Baner offer 1-2 BHK units while the 3BHK units’ area available in Hinjewadi and Kharadi.
Economy
Surat ranked 8th in India with a GDP of around $40 billion in the fiscal year- 2011-2012, 4.99 percent in 2016 and it is estimated that the GDP in 2020 will be around $57 billion. The city has a good mix of industries including textile industries, diamond cutting companies and IT. Growth in these sectors has created many employment opportunities for job seekers and as a result of the improved socio-economic condition has significantly impacted city’s residential market. With an increase in per capita income, investment in the real estate of Surat will increase, and hence making it more lucrative for investors, developers and potential homebuyers.
Surat accounts for:
- 90% of the world’s total rough diamond cutting and polishing
- 99.99% of the nation’s total rough diamond cutting and polishing
- 90% of the nation’s total diamond exports
- 40% of the nation’s total manmade fabric production
- 28% of the nation’s total manmade fiber production
- 18% of the nation’s total manmade fiber export
- 12% of the nation’s total fabric production.
Infrastructure
Surat real estate is a high potential market which is equipped with modern and well-planned structures – both residential and commercial. The city has a computerized water distribution system and drainage system with a sewage treatment plant to transform waste into energy. Surat has one of the best water treatment plants in India and every part of the city has underground drainage and street lights. The efforts by the state government will assist Surat property market to grow in the near future.
Road
To tackle with heavy traffic in the city and to decongest roads, Surat Municipal Corporation has taken initiatives to improve its road infrastructure. Furthermore, to offer seamless commute to other parts of the city, Surat Municipal Corporation and Surat Urban Development Authority have planned to develop an Outer Ring Road and Middle Ring Road.
- Surat is connected by flyways, national and state highways.
- The major highways passing through Surat are the UdhanapMumbai Highway (Udhana-Navsari Highway) and Surat-Ahmedabad Highway (Varachha Main Road).
- The Eastern expressway (Varachha Flyway) is one of the India’s longest flyovers under city municipal limits in four lane category.
- A multi-level flyover bridge over River Tapti connects Rander-Adajan to Katargam, and
- The Golden Quadrilateral highway system passes through Surat, connecting the city to the National Highway 8(NH8) through a 16 kilometers connector highway.
- The improvement in the road connectivity will definitely uplift the status of its residential market by appreciating the prices of properties in Surat.
Transportation
There is a direct relationship between popularity and growth of Surat property segment and city\’s public transportation. Nowadays, people prefer to live in areas which are well-connected by public transit system, therefore Surat is experiencing an increase in demand owing to its strong transportation and public transit system. Real estate in Surat has also experienced an increase in housing prices because of rush of people willing to invest in Real estate Surat.
The transport services offered by the city include:-
Surat City Bus:
Since 2008, the city is served by CNG –fueled bus services. As the frequency of these buses is quite sparse, the primary mode of local transport is auto rickshaws.
Bus Rapid Transit System (BRTS):
BRTS has been completed in most of the areas of the city. The first route of BRTS commenced on 26th January 2016 with Udhan-Sachin route, covered by AC buses.
Metro:
The twin cities of Surat and Navsari will be connected by metro railway and the project, which is managed by Surat Municipal Corporation.
