Maruti Suzuki, recognized as India's largest manufacturer of passenger vehicles, is poised to initiate operations at its anticipated Gujarat facility. Meanwhile, the regional real estate sector is strategically positioning itself to take advantage of this opportunity by amassing a land bank in the vicinity.
The manufacturing giant has selected Hansalpur, located approximately 120 kilometers from Ahmedabad, as the site for its new plant. Nonetheless, in August, the company expressed concerns over decreased demand, which could potentially delay the timeline for establishing the plant.
In response, local builders are actively delineating parcels for both residential and commercial endeavors in the area. Vendors associated with Maruti have begun their search for land near the proposed site, with some moving forward to purchase parcels from local agriculturalists.
Sources indicate that numerous developers within the city are strategizing to acquire land in this region, with actual transactions anticipated to begin in four to five years. This timeline hinges on the manufacturing facility gaining operational momentum.
Maruti emphasized that the decision to kick off construction at the plant would come after a thorough assessment of market conditions, which originally had projected work to start by late 2016.
The reorganization of the area and its classification as a special investment region is set to facilitate land acquisition for developers. According to local farmers, real estate factions are deploying local agents to engage in negotiations, wary that villagers might demand increased compensation if they sense interest from the builder community.
A majority of developers in the city are currently on the lookout for land parcels ranging from 20 to 60 acres, aiming to establish township-style residential projects.