Rapid industrialisation, growth of manufacturing sector and creation of better social infrastructure is making Halol, on the outskirts of Vadodara, one of the most attractive residential real estate destinations in Gujarat
Name one realty sector which is continuously seeing growth and is a dream destination for developers and homebuyers alike? We are sure that Gujarat would be your undisputed answer. The reasons are obvious and in fact plenty for this unprecedented growth of the Gujarat real estate sector.
The main being affordable realty prices, excellent connectivity within cities as well as other states, well-developed expressways connecting various parts of the state, presence of superior infrastructural facilities, investment-friendly climate, increased NRI investments, high Return on Investments (ROI),industry-friendly environment, ‘real developers’ in terms of their project offerings and logical approach, proximity with Delhi Mumbai Industrial Corridor (DMIC), nearness with Mumbai and the list is endless.
Ahmedabad and Vadodara: Heart of realty investments
The above mentioned factors along with the others have made Gujarat as an investment hotspot. Particularly talking about Ahmedabad and Vadodara, then they can be considered as the lifeline of Gujarat and heart of realty investments.
Talking about the obvious reasons behind the growth of Ahmedabad and Vadodara’s real estate market include the booming industrial sector and overall high rate of development in these two cities. Further, both the cities are rich in textile, pharmaceutical and chemical industries. Apart from being well-established education centres, Ahmedabad and Vadodara have also established themselves as major IT, ITeS and retail destination. In addition, the two cities have impressive infrastructure with consistent supply of water and electricity. Owing to these factors, a number of companies are choosing Ahmedabad and Vadodara as their base over other cities in the Northern as well as West India, thus, fuelling growth of residential as well as commercial development. Looking at these factors, the residential (including affordable and luxury) real estate market is set to gradually improve with generation of more and more employment opportunities in the two cities and people migrating here.
Thus, realty market is flourishing in all the four corners of the two cities. One can see new flats, apartments, serviced apartments, bungalows, penthouses and township properties cropping up all over the two cities. It is interesting to note here that this growth is not only restricted to areas within the city limits but even outskirts are expanding and smiling. Why only outskirts? Now the industrial areas are also glowing and positioned as next big housing destinations.
Evolution of industrial areas to housing destinations
Today,affordable residential realty market is flourishing in the areas which were once considered to be purely industrial areas. Mainly, the migrant population who wish to stay near their work areas and not travel much prefer to buy property in these areas.Further, good transportation facilities from these parts of the city to other regions also helpin the growth of these areas.
Today, a number of prominent developers are coming up with huge affordable residential schemes in these areas. A number of factors like connectivity, availability of large land parcels at cheaper rates and government’s priority are the key reasons behind the growth of these areas.One such industrial area which is touted to become the next realty hotspot is Halol near Vadodara.
Halol: The next residential hub
Earlier regarded as the industrial powerhouse with several multinational companies having their base here, Halol, on the outskirts of Vadodara and close to NH-8, is now developing as a promising real estate market. Given to its location and connectivity with Gujarat’s other developed cities, it is now becoming a preferred destination for those developers and investors that are in search of upcoming markets.
The many factors which are working in favour of Halol and making it the next realty hotspot:
- It is a part of the ambitious Delhi-Mumbai Industrial Corridor (DMIC) which is at a distance of 35 kms from the Halol industrial area
- It is merely 40 kms away from cities like Vadodara, Bodeli andGodhraand 150 kms away from Ahmedabad
- It is also connected to Bharuch and Surat via NH-8
- SH-87 connects Vadodara to Halol
- The broad gauge rail line passes from Vadodara to Godhra along a distance of 1.5-2 km from Halol industrial area
- The Vadodara-Halol expressway is viewed as a prominent development corridor. It is very close to the Vadodara airport and has many manufacturing and industrial units
- At present, the property rates in this area are stable and not sky-high, thus, luring homebuyers or investor’s attention and making it low investment- high return zone
- Be it good educational institutes, restaurants and hotels—Halol has it all
Halol’s bright future
Overall, creation of better social infrastructure coupled with increased industrialisation has made Halol, one of the most promising real estate sectors of future in the state. Owing to this scenario, investment opportunities in the city are on the rise. Further, with the rates scheduled to escalate in the near future, capitalising on this low investment-high opportunity zone becomes very obvious. Thus, Halol has all the reasons to smile.
- Avani Jain