Surat, Gujarat [India] : Diwali is just round the corner. And the good news is, this Festival of Lights has brought positive vibes in the market, despite the recent slowdown due to Covid-19 pandemic. Diwali has brought back a very good V curve for the industry and has illuminated people’s heart with hopes of a prosperous future. Surat, the second-largest city in Gujarat, is among the top-ranking smart cities of India. This is the right time for investors as the city is only marching ahead on the path of growth. All the major sectors of the market – textile, diamond and real estate markets are witnessing a boom. The Infrastructure that smoothens connectivity between major micro-markets, good healthcare and educational institutions create a positive impact on the city’s lifestyle. And the spectacular upcoming Surat Diamond Bourse will be a major game-changer for the city of Surat in the near future.
If we consider Varachha area then it is one of the most upcoming and developing area of the city. Driven by both residential and commercial real estate demands, the real estate scenario of Varachha and MotaVarachha, Surat is on a positive track. All these developments will benefit Varachha area as most of the textile and diamond business are situated here and people working in these industries prefer to live in the same vicinity.
Diamond Bourse :
The Surat diamond bourse is slated to be ready by the year 2022. Once this happens, all the major Diamond companies, diamond units and offices in Mumbai will completely shift to Surat. Some of them have already shifted here. This will not only boost the diamond business of Surat, but it will also accelerate the city’s progress. This will lead to the generation of new employment opportunities and raise the demand for affordable housing accommodation of the future workers and employees. This migration will directly benefit the real estate industry. And it is a well-known fact that the majority of the people associated with the diamond industry belong to Saurashtra, including the factory owner as well as the workers. Without a doubt, Varachha and MotaVarachha areas of the city will be the first choice of accommodation for migrants.
The presence of a number of industries and the upcoming Diamond Bourse will impact the job market in a positive note, leading to the generation of affordable housing demands. Varachha and MotaVarachha is all set to witness a rapid expansion in terms of residential property in the city. There is a huge demand for low budget 2/3 BHK flats in this area for the middle-income groups. With future migration of the diamond industry from Mumbai to Surat, the demand for affordable flats will only rise, it is not going to slow down. So many real estate companies and builders in Surat are focussing on providing well-equipped flats with all the facilities essential for a good living that too in a low budget.
As many real estate builders and experts would say- if you wish to invest in a property in Varachha area, then this is the right time to do so. The city is progressing by leaps and bounds and the future of real estate indeed looks promising! So invest wisely.
How real estate has deal with pandemic time:
During this pandemic, the way the real estate industry has a deal with it was so amazing that property rates were not too fluctuated and thus seems like it’s the best time to invest in real estate. Because looking ahead if the industry curve tends to remain V – the same curve then real-estate rates can get increase and future is bright. Real Patience, Positive approach and unity was the key for the real estate industry to progress well. It has always been proven that when any industry shows such positive vibes the progress is always near and unstoppable.