| Surat, the eighth largest city in India, is located in the | | | | estate developers are now launching projects that |
| State of Gujarat on the left bank of Tapi River. Surat | | | | offer convenience, great living experience and |
| is known worldwide for its diamond business and is, in | | | | state-of-the-art amenities at affordable prices. The |
| fact, called the 'Diamond City of India'. More than | | | | success of local developers following the agenda of |
| three-fourth of the diamonds in the world are cut and | | | | providing 'affordable housing' to the common man has |
| polishes in this Diamond City. It is the second largest | | | | inspired larger builders to pump in money into a |
| city in Gujarat widely popular for its textiles, thus, | | | | growing city like Surat. Some of the upcoming projects |
| deriving the names like 'Silk City' and 'Textile City'. | | | | in Surat real estate include a hotel projects by |
| Surat, being the second cleanest city of the country, | | | | Bhagwati Banquets and Hotels Limited with an |
| makes for one of the paradisiacal cities to live in India. | | | | investment of Rs. 77 crores; Siddhi Shopping Complex |
| The growing demand for land development and the | | | | and a mega township 'La Heights' by Pooja |
| shifting focus of industries to tier-III and tier-IV cities has | | | | Corporations and many more. |
| proved beneficial for the city of Surat too. It is now | | | | The growing demand for property in Surat naturally |
| being eyed by leading IT companies, Corporates and | | | | emphasizes on the need for more residential and |
| BPO firms who are willing to establish their presence in | | | | commercial spaces. Surat is a home to many |
| Surat. The IT sector especially along with ITes and | | | | important educational institutes resulting in huge influx of |
| BPO is thriving in the city of Gujarat after Ahmedabad | | | | students from outside the city. The skilled professionals |
| and Vadodara. There are various reasons leading to | | | | hired by MNCs in the city also keep bustling in the city |
| selection of these cities as next IT hubs or industrial | | | | to meet the workforce demand of the new setups. |
| hubs like their strategic location i.e. proximity to existing | | | | Both the students and professional together bolster the |
| or current business centres. | | | | demand for housing in Surat, thus, encouraging real |
| Some of the important factors contributing to the | | | | estate developers to build more and more residential |
| growth and increasing preference for Surat could be | | | | properties. Added to this is the demand of housing by |
| affordable prices, serene ambience, convenient public | | | | NRIs as they usually invest large amounts of money in |
| transport, good education facilities, excellent | | | | the residential sector of Surat. All such elements put |
| employment and self-employment potentials and | | | | together lead to a considerable rise in demand for real |
| entertainment facilities like multiplexes, etc. Easy | | | | estate. But there is a deficit between demand and |
| availability of usable land, comparatively cheaper labor, | | | | supply of property in the city. |
| congenial environment, etc. is always looked for by the | | | | The availability or supply of property is not able to |
| industries as it makes for ideal business destination. | | | | meet the burgeoning demand resulting in higher |
| Suitable civic infrastructure, improved medical and | | | | property and rental values. These values are still lesser |
| educational facilities are also important as they | | | | than other major cities but are expected to rise soon |
| forecast the scope for absorption potential of the | | | | in wake of the fast paced developments taking place |
| products and services. | | | | throughput the city. It is, therefore, the ideal time to |
| The industrial boom in Surat has given a high boost to | | | | invest in Surat property market before the prices |
| the real estate industry of the city delighting the | | | | svelte higher and become unreachable. |
| property developers and property agents. The real | | | | |