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.
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
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
Demand is strong from Saurashtra region and investments from NRIs has also attracted bigger developers
Builder | Project | Location | Price (Rs)* |
Patel Estate | Patel 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 Apartments | 150 ft Ring Road | 45 lakh |
Sheth Builders | Pariad Residency | University Road | 50 lakh |
Patel Timber | Sopaan | Sadhu Waswani Road | 60 lakh |
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
Area | Cheap | Price | Expensive | Price |
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 |
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%