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Rajkot: Industrial hub

Rajkot: Industrial hub

Rajkot always had a strong industrial base and good connectivity with other urban centres in Gujarat. Improvement in infrastructure over the past few years has added to the demand for real estate.

Rajkot always had a strong industrial base and good connectivity with other urban centres in Gujarat. Improvement in infrastructure over the past few years has added to the demand for real estate.

Price Propellers

Some projects underway that could influence real estate prices in future.

Road Projects

Widening of existing roads, completion of ring road, a four-lane highway to Jamnagar and Vadinar and Rajkot-Ahmedabad expressway are part of integrated road improvement project

BRTS

A Rs 110-crore Bus Rapid Transit System (BRTS), involving construction of special corridors encircling the city (linking Gondal Road, Jamnagar Road, Greenland Chowkdy and Kuwadva Road), has been sanctioned. The first phase is scheduled to be ready by 2010

Industrial Infrastructure

An SEZ for the automobile sector and industrial clusters for engineering, ceramics, textiles and jewellery sectors planned in Rajkot district

Port Development

Creation of container handling facilities and a liquid terminal to import LPG at Navlakhi port in Rajkot district

Investment in Infrastructure

A major share of the proposed investment will go towards water augmentation and management and drainage projects.

Water Supply: 31%
Roads: 29%
Roads: 25%
River Development: 4%
Social Infrastructure: 4%
Sanitation: 3%
Traffic Management: 3%
Urban Governance: 1%

Total investment in city infrastructure till 2012: Rs 706 crore

New Residential Projects

Demand is strong from Saurashtra region and investments from NRIs has also attracted bigger developers

Builder
ProjectLocationPrice (Rs)*
Patel EstatePatel Heights Ramnagar 25 lakh 
Dhanuka Builders Dhanuka Greens
Ralya Road
30 lakh 
Rajkot Dev. Royal Residency Ranchhod Nagar 32 lakh 
Alaap Const. Alaap Towers Jamnagar Road 35 lakh 
Karsan Group Green Meadows Shastri Nagar 35 lakh 
Alishan Builders
Alishan Apartments150 ft Ring Road
45 lakh 
Sheth Builders  Pariad Residency University Road 50 lakh 
Patel Timber Sopaan
Sadhu Waswani Road 60 lakh

 

Retail Space Supply

For retail business, Rajkot has become the second most preferred destination after Ahmedabad because of the high purchasing power as well as comparatively cheaper property cost.

Kalawad Road: 25%
Yagnik Road: 30%
Gheekanta Road: 7%
Dharmendra Road:  15%
Lakhajiraj Road: 12%
Others: 11%

Total retail space supply by 2008: 1.5 million sq ft

Buying Options 

AreaCheap
Price
ExpensivePrice
Central
Kalawad Road
2,500 Race Course Ring Road 4,500 
North Jamnagar Road
2,000 Shastri Nagar 2,300 
East Ranchhod Nagar
2,200 Arya Nagar 2,500
West Kotecha Nagar
1,800 University Road 2,500 
South Vivekanand Nagar
1,700 Bhakti Nagar 2,200
Prices of residential properties in Rs/sq ft

Price change

Average percentage price change in 2007 and 2008 (expected)

Central:
2007: 35%
2008: 25%

North:
2007: 20%
2008: 15%

East:
2007: 15%
2008: 10%

West:
2007: 25%
2008: 25%

South:
2007: 15%
2008: 10%