Why NRIs Are Investing In Vadodara Properties
As projected by the government, India is slated to become a USD $5 trillion economy by 2024-25. The real estate sector alone is projected to be USD $1 trillion by 2030. Gujarat’s ever-expanding cityscape has made it an ideal destination for investment, especially foreign investment from those who wish to hold on to their roots. Located in Gujarat, Vadodara is emerging as a market leader in real estate. The micro-market is growing into a services and industrial hub.
Here are some reasons why NRIs are investing in Vadodara properties: 1. Growing Business Hub
In recent years, Vadodara has seen an influx of auto companies, IT and ITeS companies that have set up their offices within the city. These investments IT companies have resulted in remarkable growth in the city’s real estate sector. The booming IT sector growth has resulted in a huge demand for high quality, affordable housing units.
Moreover, Vadodara offers access to one of the biggest investments in India. Mumbai and GIFT city – Gandhinagar. The access is helping boost the demand for real estate in Vadodara. GIFT city is India’s first operational smart city and international financial services centre located just two hours away from Vadodara. Mumbai, the financial capital of India needs no introduction and just six hours drive from the city, making Vadodara a great choice for corporations looking to set up a second office. Foreign investors have begun to take notice of Vadodara. The increased interest has prompted the government to invest in infrastructure projects like roads, railways and even an international airport.
2. Reforms such as RERA and GST
With increased regulations like RERA and GST, NRI’s who were once skittish about investing in properties have become more comfortable in buying properties. In 2017, the introduction of RERA (Real Estate Regulation Act) has helped bring in accountability to the real estate sector allowing NRIs to confidently invest in properties. RERA ensures a more timely delivery of the property with interest to be paid to the investors in case of any delays. The stability of prices and reduction of GST on projects that are under construction has also attracted more foreign investment.
3. Price appreciation and higher returns
The city of Vadodara has excellent infrastructure, in terms of roads, rail and even the Vadodara International airport. The Ahmedabad-Vadodara expressway is considered to be one of the best expressways in India. The city is supported with strong infrastructure and facilities making it a self-sustaining city.
While the city continues to grow to include more renowned organisations, schools and hospitals. The property values will undoubtedly go up as the city gains more investment interest. As a homeowner, the higher returns associated with investing in Vadodara will also increase your net worth. Investing in the right project directly impacts the estimated rent you can receive. This is further inspiring many NRI’s to invest in quality projects such as Veda 2 in Vadodara.
4. Increasing Demand for good quality housing
Being a business hub, Vadodara attracts a large crowd of highly skilled workers, who have specific demands for their apartments. The quality and luxury living segment comprising mostly of Millenials and well-to-do individuals who seek quality houses with top-notch features. The changing urban lifestyle directly impacts the kind of projects that are being delivered. Upscale projects like Veda 2 are a hot ticket item that’s on the list for many NRIs.
Located in Vadodara, Alembic Veda 2 is a gated community that promotes luxurious living amidst the joys of nature. With an exhaustive list of amenities and safety features, it is ideal for NRIs. Alembic itself is a household name in the industry with customer loyalty following them right from its inception.
To know more about the property, please visit: https://www.alembicrealestate.com/veda-II-2-and-3BHK-apartments-in-vadodara/ Sources: