Emerging real estate market - Vadodra to Halol
Investing in real estate is in today’s market is all about spotting the right opportunity. The factors to identify the right place include economic growth, infrastructural development, growing job opportunities to ensure returns on the property invested.
Globally, the volume of under-construction activity in real estate in India is second to only China. The ongoing economic slowdown has had a mixed impact on property markets in India. In the residential markets, the capital values in many micro markets across cities had already crossed their previous peak levels of 2008. There is still a lot of end-user and investor demand unmet in all the cities
We identified some such belts across India and studied their growth potential. In this page, we would like to share some of our learnings from the belt: ‘Vadodara – Halol.
Vadodara is one of the most charming cities of Gujarat. The cultural hub of state, a great educational center, it attracts the best young talent from all over India. It became industrialized in the sixties when major corporate houses like Alembic Pharmaceuticals, Reliance, IPCL, and GACL started setting up base here along with some mammoth public sector units.
Besides, the city is well connected with both Mumbai and Delhi by air, rail and road. With its cosmopolitan feel and amalgamation of cultures, it appears an ideal city for NRIs to settle down in. While the old city on the eastern side of river Vishwamitri is cramped and congested, investors should definitely consider the west side with its modern residential complexes, world class condos and office structures.
Initially the buzz in the real estate market escalated property prices to unreasonable levels everywhere including Baroda. Now builders have woken up to the fact that even NRIs would not throw their hard-earned money on property that is overpriced. Today it is possible to find decent flats in Baroda ranging from about 40-60 lakhs.
Halol, a growing industrial hub near Vadodara is located on the Delhi-Mumbai industrial corridor. In the past few years, rapid industrialization, growth of manufacturing sector and creation of a better social infrastructure has made it the most attractive destination for real estate. Halol is home to many large companies such as Sun Pharma, HNG Float Glass, General Motors, SETCO, CEAT, Windar Renewable Energy, Siemens Hero MotoCorp and so on. It is located just 40 kms from Vadodra and 150 kms from Ahmadabad and well connected to key industrial centres such as Ahmadabad (via India’s first Expressway), Bharuch and Surat, along NH8.
The market of property in Halol is positively prospering at a faster pace with increased opportunities available for investment in Halol property. GIDC in the region have been engaged in numerous activities over the years for developments of infrastructure, skilled work force and technical know-how resulting in over-all developments of industries in the estate. The best part is in Halol, the property prices have not yet seen the boom years making it a low investment – high return zone. The residential land market is also not organized making it apt for developers and investors to enter this time and make money.
To sum up, Vadodara & Halol is an emerging metropolitan cluster. While Ahmedabad is the largest city in Gujarat, Vadodara is a major industrial centre with big pharmaceutical and chemical manufacturers. Halol has large industrial set-ups planned for future and Surat is known for its textile and diamond processing industries. The region is expected to embark on a growth trajectory with landmark projects such as the Delhi-Mumbai Industrial Corridor (DMIC) and the Gujarat International Financial Tec-City.