Emerging Real Estate Market in Gujarat: Rajkot's Ascent
Rajkot sees increasing demand for top-end residence and villas.
Beyond Ahmedabad and Surat, Rajkot is quickly becoming a prominent real estate hub in Gujarat. The city is experiencing consistent growth in property values, establishing itself as a key market within the state.
Property values in Rajkot have steadily increased over the past three quarters. As the city welcomes IT and ITeS companies, it expects to provide more employment opportunities, further driving the demand for housing units. Rajkot is flourishing as a residential real estate destination.
According to Chintan Vohra of Swastik Properties, 2 BHK units are particularly popular in the area. Properties priced between Rs. 35 to Rs. 50 lakh are also in high demand, reflecting a strong preference for affordable yet comfortable housing options. These preferences underscore the city's appeal to a broad segment of homebuyers.
Hotspots like Kalavad Road, University Road, and Yagnik Road are becoming prime residential locations, witnessing considerable demand and supply. These neighborhoods are attracting significant interest from both developers and potential homeowners, marking them as key areas of development.
There is higher demand for top-end housing units in Rajkot.
Demand for top-tier, luxurious projects is significantly increasing, enhancing the real estate landscape. A new upscale area, known as New Rajkot, is under development along the 150ft Ring Road, showcasing premium projects at reasonable prices.
Mayur Modi from Top Real Estate Management & Constructions notes the strong interest in high-end developments. The demand is primarily driven by high-income individuals, including NRIs, HNIs, and the business community. These luxury projects offer modern facilities and specifications, aiming to provide world-class living experiences.
Developers such as Dhanraj Builders Private Limited, Rajpath Builders, Realty Management Co (P) Ltd, and Shivalik Builders are actively involved in developing projects that offer premium lifestyle features. These builders are dedicated to creating residential spaces that cater to the discerning tastes of their residents.