When the developers across the major property markets are lamenting about the inferior infrastructure, Ahmedabad is probably the only major city where the developers are not complaining. With the state government focusing on investment and boosting infrastructure, Ahmedabad and other cities in Gujarat are ready to grow in all directions.
Mega projects, including the proposed Special Investment Region (SIR) at Dholera, the metro-link express and the state’s first International Tech- city are posed to transform Gujarat’s industrial scenario in next few years. These developments will have positive note on the realty sector.
The state government has also approached the Cabinet for intervention to accelerate projects worth 1.1 lakh cr, promoted by top domestic and foreign firms. These projects are waiting the green nod from the Centre form last three years.
The expansion plan for RIL’s marine operations worth Rs 8,950 cr, the the Mumbai-Vadodara Expressway worth Rs 19,850 crore and investments in the DMIC worth Rs 43,230 crore are among the projects waiting for a approval from the Ministry of Environment and Forests.
The state government has completed 20 road projects worth Rs 2,088 cr and six projects amounting to Rs 2, 950 ce are under development. It has more than five projects in the pipeline and an equal number in a bidding stage.
On the urban development front, the state has completed six projects and the government is also thinking up to take 22 more projects at an investment of Rs 4,000 cr in the coming years.
The real estate growth in the city has witnessed the change. From affordable apartments and townships, the demands are sifting to villas, second homes and row houses.
The city has a very good water drainage system, ring road system, bus rapid transport system and stable power supply that provide a solid foundation for growth of the sector in the city.
According to the Government data 13 projects are waiting for clearance under the coastal regulation zone norms. The pace of development is likely to receive a major boost, once all the infra projects are given nod on a fast-track basis.