Maruti Suzuki, India’s largest passenger car maker, reflecting  to start work at its proposed Gujarat plant, the local real estate market is trying to cash-in the opportunity and are trying to build a land bank in the region.

The manufacturing firm has chosen Hansalpur, about 120 km from the Ahmedabad, to set up its new plant.  However in August, the company had specified due to slowdown in demand, Maruti would delay things for the new plant.

The local builders are marking plots for residential and commercial activities in the area.

The company’s vendors had started searching land in the proximity of the proposed  unit. Some vendors are looking for the lands and others have started buying lands from the local farmers.

According to the sources, many developers within the city are planning to buy land in the region and the actual transaction will commence in four-five years time, once the manufacturing plant picked up pace.

The company said only after studying the market condition it would decide when to start work at the plant , which was earlier scheduled to be start by the end of 2016.

The re-arrangement in the area and the land being included in the special investment region will allow the developers to acquire more lands.

According to local farmers, real estate groups are sending local agents to negotiate as they feel villagers might ask for higher compensation if they feel that the builder lobby is interested in the area.

Most developers in the city were scouting for land parcels in the range of 20 and 60 acres to build township-like residential projects.