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NRI Investment in Gujarat halol the new real estate hot spot

 

Returning home, returning to Halol

Most of the NRI are always keen to keep their Indian ties intact and invest in property in their home country. Of the possible investment zones, Gujarat including its cities like Ahmedabad, Vadodara, Halol etc. tops their list…

Byline:
Avani Jain

NCR, Mumbai, Pune, Jaipur…which is the ideal place to make an investment in the realty sector back in India? This question often bothers the Non-Resident Indians (NRIs). But now, the confusion has ended. Earlier, only the Non-Resident Gujaratis (NRGs) were keen to buy and invest in a home in Gujarat but now most of the NRIs are eyeing the state and its prime cities. In fact, today Ahmedabad, Vadodara and few growing areas like Halol have emerged as one of the best real estate investment destinations not only in the state but in the country.

Gujarat: The growing investment hotspot

There is nothing like the reassurance of having a home where your heart is. The same is the case with the NRIs and the NRGs. When it comes to making property investment back in the home country, Gujarat tops the list of these NRIs due to the multiple advantages that the state has to offer.

Today, Gujarat is a hub of manufacturing, automobiles, pharmaceuticals, petrochemicals and chemicals sector. It is also quickly moving towards becoming a knowledge city and IT/ITeS and biotech hub. The state is also well-connected with both Mumbai and Delhi by air, rail and road. Further, with its cosmopolitan feel and amalgamation of cultures, Gujarat is seen as an ideal state for NRIs to settle here.

A recent report also supports this market dynamics when it suggests that more than half (52.7%) NRIs are looking forward to return back to India and settle in Gujarat with significant amount of their investment basket falling into the real estate. Vishal Patel, an engineer working in New Jersey, says, “Gujarat is one place, I would like to settle in, if I decide to come in India. It’s because here, one can find ample opportunities for employment, good education for children and of course, the presence of family members near about.”

Thus, simply out, if investing in metropolitan cities was the success formula, a decade ago, satellite towns and Tier-2 and Tier-3 cities of Gujarat are now leading the scene. For example, Ahmedabad figures in the list of preferred cities for the NRIs who are looking to buy residential properties. Many NRIs are eager to put in a lot of money in all asset classes like residential as well as plotted and commercial real estate of the state with a sole purpose of investment returns. Thus, the prominent cities of Gujarat are acquiring an all new debonair character which was once associated only with the metros.

Halol: The emerging investment zone
Apart from Ahmedabad and Vadodara, another area in Gujarat which is catching the fancy of the NRIs is Halol, which is on the outskirts of Vadodara and close to NH-8. Earlier regarded as the industrial powerhouse with several multinational companies having their base here, it is now developing as a promising real estate investment destination.

It is generally seen that industrial growth in any area attracts the investors including the NRIs as that area attracts growth fast. The same is the case with Halol. The coming of new industries at Halol is attracting white and blue collared professionals. In fact, it is believed that Hero Motocorp’s facility in Halol is itself generating 12000 jobs. All this is creating a chain effect on the property market in this part of the state. Thus, the expat professionals, who were earlier known to drive the property markets of Mumbai and Delhi-NCR, are today driving the Halol property market.

The other factors which are working in favour of Halol and making it an investment magnet are proximity with Vadodara (40 Kms) and Ahmedabad (150 kms), connectivity with Bharuch and Surat and the fact like 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. Further, at present, the property rates in this area are stable and not sky-high. This is also luring investor’s attention.

“In addition, who would not like to invest in a place where the property comes with all the modern facilities like clubhouse, swimming pool, children’s park, common area, 24-hour water supply etc.,” says Sukh Sagar Singh, assistant manager-sales at Halol, Ashiana Housing Ltd. Thus, today, one can find all sorts of projects—affordable as well as premium—in Halol.

Halol on the go

Given the best social infrastructure and growing industrialisation, Halol, is increasingly catching the attention of the investors. Today, NRIs are increasingly investing in real estate sector of Halol as this investment is seen highly profitable and extremely lucrative by them.

 

 

 

 

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