Rajkot is a populous city in the state of Gujarat (India) and is counted amongst the fastest growing cities in the world. It is situated quite close to the major ports and well connected to other states by different means of transportation. Owing to these factors, Rajkot has witnessed unprecedented growth in the last few years. The Property Market in Rajkot is very lucrative in terms of the infrastructure available for development and the soaring prices of property in different areas make it a great option for investment. Many big and small Real Estate Developers are undertaking projects related to industrial and commercial property in Rajkot along with the assistance of Government bodies. Different real estate projects are being completed with full speed including Townships, IT Parks, Commercial Complexes, Shopping Malls, Group Housing, and Builders' floors in Rajkot.
The surging growth in this city is the result of different factors
- Thriving economy
- Well-developed infrastructural facilities
- Proximity to major ports
- Well-connected roadways system
- Easy availability of basic amenities (e.g. schools, colleges, hospitals, airports, business centers)
- Well designed with strategic placement
- Major industrial & commercial firms present
- Inexpensive office space available
The government is also taking many initiatives to develop Rajkot even further and make it a world class city. The availability of commercial and residential space has attracted many buyers so far and this is slated to increase even further in the coming years as more and more major players continue the process of development at a rapid pace.
Prices of residential property have seen an upward trend in the last few years and are set to continue further in this direction. For example; within a span of a year, the prices of residential property have jumped from 40% to 60% depending on the location. Many big players in the retail and commercial sectors are already present like Big Bazaar, Pantaloons, and Café Coffee Day. Industry majors like TATA and Reliance are expanding their operations to establish themselves in the region with more such names to follow suit in the future. But as the lifestyle of Rajkot citizens undergoes an overhaul, there will be a great demand of more development in this area. Many NRI buyers and international buyers are showing much interest to heavily invest in commercial property and capitalizing on that, the builders are showing much progress in terms of extensive construction in Rajkot. Developers and builders are taking equal interest in the national and international companies by providing property at an increased pace. So far the property market has offered excellent returns for investors and this tendency is set to continue further as the Real Estate Market in Rajkot would grow in the coming years.