There are a flurry of new residential projects in Surat that are being launched in recent months by leading developers and real estate organizations. Though Surat has always had a very successful and thriving real estate market, things are looking up now and how! The realty market here is witnessing huge growth levels in terms of overall demand, infrastructure and governmental support. Investing in Surat has always been a good and safe proposition for several classes of investors and the trend has remained unchanged till date. Rather, the changing character of Surat from an evolving, business oriented city to a well developed, cosmopolitan, advanced and high tech city has sparked even higher demand than before. Real estate markets in the city are witnessing high levels of activity and there is much optimism amongst developers and industry bodies as a result.
Investing in new residential projects in Surat will definitely pay off at present owing to the favorable business and social climate here. Several property buyers also prefer to pay up a portion of the property price in cash and since the cash payment procedure is among the highest in the country, loan defaulting is combated in addition to helping developers land better and tangible leads. Additionally, demand is still being fueled by the fact that property prices in Surat are much lower compared to those in several other important Indian cities. The NRI community has also been investing hugely in Surat and this has also contributed to the overall growth of the real estate market here. The market is also dominated by leading developers who have sizeable experience in tailoring homes to suit the changing requirements of customers. Unemployment rates in Surat are almost nil and this draws people from several other Indian cities. This has a direct impact on housing need and market progress as a result.
Additionally, new residential projects in Surat are finding more and more takers owing to the growth in multiple recreational and entertainment options here which were unheard of in earlier years. Multiple shopping malls and multiplexes are also being built in the city along with commercial zones and venues. There are several playgrounds that are also being developed in the city while an increase in the number of flights from the Surat airport is another development that has worked wonders for the realty sector. Surat is also accessible within only two hours from Mumbai and this makes it a good city for businessmen and traders to live in.
