Properties worth Rs 3K cr to be displayed at GIHED show
More than 500 real-estate projects worth over Rs.3,000 crore will be on display at a property show organised by Gujarat Institute of Housing and Estate Developers (GIHED).
More than 500 real-estate projects worth over Rs.3,000 crore will be on display at a property show organised by Gujarat Institute of Housing and Estate Developers (GIHED).
Track2Realty Exclusive: The sentiments in the property market are subdued across the country and the transactions have nosedived in most of the major markets. However, Gujarat real estate seems to be picking up to buck the trend otherwise and the sentiments are changing for the better. This is reflective in the transactions that are happening across the state.
Track2Realty Exclusive: Property markets are often referred with reference to their key demand drivers. Every city has a key demand driver as far as the growth of the property market is concerned. Some have it by home grown end-user demand; others have it with investors finding it magnet for future while many have expat community driving the property market due to increased urbanisation and the professional opportunities.
Ahmedabad stands out as a city that weathered the market slowdown most smartly and the property market of the city was the first in the country that showed signs of recovery by June 2009 itself. Since then realty in Ahmedabad is back and booming, with nearly 35% appreciation.
Gujarat Institute of Housing and Estate Developers (GIHED) is expecting Rs.1,000 crore business during its two-day property exhibition at Goregaon starting on Saturday, September 10.
The rollback on jantri rates has been welcomed by land developers and builders as well as the Opposition Congress, which claimed the government had given in to public sentiment.
Real Estate developers in Gujarat are unanimous to protest against the revised jantri rates. Even after their talks with the Government on Monday they have announced that they will continue their protest by not executing any sale deeds till May 5.
The Gujarat Government is determined to back its new jantri rates – or government assessment of the value of properties which have come into effect from April 1. There rates have been increased from 2.5 to eight times across the state.
With the emergence of Gujarat real estate sector on the realty map of India, the state’s real estate developers have also got recognition at the national level. Jaxay Shah, director of Savvy Infrastructure, has been elected as the new vice-president of Confederation of Real Estate Developers’ Association of India (CREDAI).