When it comes to investment, Indians make smart choices. The real estate market is becoming a lucrative investment option due to increasing prices, security of investment and outstanding returns on investment. In Gujarat, Surat is emerging as a new investment hub as far as real estate investments are concerned.
Surat is a city with high standards of living. The average annual household income is Rs 4,57,000 - the highest in the country. Known as the diamond capital of the world, Surat is a well-developed metropolis. It is one of the fastest growing cities in the world and was also conferred with the "Best Urban City of India" award. Surat gained status and recognition for being the "2nd Cleanest City in India" awarded by INTACH during 1995-1996, and was once again declared the "3rd Cleanest City" in India in 2011.
Being the second largest commercial center in the state of Gujarat and eighth largest city in India, Surat is also known as the Manchester of the East. It is mainly known for its diamond processing and textile industries. In the year 2008, The Wall Street Journal had claimed that as much as 80% of the world's finished diamonds are cut and polished in Surat. It has around 10,000 diamond cutting and polishing units which have a total daily turnover of over US$ 10 million providing employment to 1.5 million people.
Surat has one of the best infrastructures in India. Among infrastructural developments that are meant to shape Surat's face in terms of land value and jobs are the famous Delhi-Mumbai Industrial Corridor (DMIC), The DREAM City or the Diamond Research and Mercantile City is another remarkable development which is in process. The DREAM City is also expected to comprise of 10,000 offices, occupying over 90 lakh sqft of space and is expected to provide employment to more than six lakh people.
The expanding Surat airport has been visualized to cater direct air connectivity with the major cities of India and abroad. Surat has a sophisticated network of power stations and sub stations. Surat is also rich in ports and also has a well developed road and rail network. With such world class infrastructures and several endeavors taken by the State Government of Gujarat, Surat is one of the best places to invest in India.
The Surat Navsari Industrial area is also seen as one of the breeding grounds for global investors. The Navsari Industrial area has approximately 23 large and medium scale industries ranging from agriculture and floriculture, marine based industries, textile, engineering and plastic industries.
Another interesting point which needs to be taken into consideration is that the promising state of Surat is not only due to the Special Economic Zones (SEZs) or the vibrant policies by the state government of Gujarat, but it is mainly due to the right conditions; that is the presence of highly skilled entrepreneurs, low cost small case manufacturing bases and the presence of transnational business connections which have developed over the years.
The people of Surat by and large fall in a business category and new entrepreneurs and new business ventures keep on developing which increases the demand of skilled experts and labourers from different parts of the country. Employment rate is 100% in Surat and there is a constant demand of skilled professionals and labourers, which attract people to migrate in this city. The rates of property in Surat are increasing due to serene and peaceful environment, absence of communal tension, strict law and order mechanism. Therefore it is becoming a smart choice to make real estate investment in Surat.
Surat has all the necessary natural resources, labor and government backing, which are self sufficient for the purpose of investing. Its world-class infrastructure and small scale industries, especially the textile industry, has really made Surat one of the most preferred destinations for investing. Though several global investors have already invested in Surat, a lot more industries in Surat have tremendous potential which need to be explored. The state of Gujarat, under the Vibrant Gujarat Project, has really made Surat one of the cynosures for investors which should not be overlooked.