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Nir Gujarati Gujarat Property Show a Big Hit in Gujarat Real Estate Market Nir Gujarati

About 50,000 people thronged Gujarat’s largest Proprty Show on Friday where residential and commercial real estate worth a whopping Rs 15,000 crore are on display. City realtors have announced 500 projects, ranging from Rs 3.81 lakh to Rs 1 crore - a majority of them being around Rs 25 lakh, at the event organised by Gujarat Institute of Housing & Estate Developers (GIHED) at University Convention Centre near Helmet Crossroads. “The response on Day One is very encouraging. People came despite Friday being a working day. We expect the number of visitors to go up substantially in the weekend,” said Shekhar Patel, president of GIHED.

A steady stream of visitors continued to pour in throughout the day forcing the organisers to make alternative parking arrangements. Nikki Pantvaidya, a banking professional based in Riyadh, flew down especially to attend the show. Pantvaidya, whose parents live in Delhi, wants to buy a property in Ahmedabad. “My parents belong to Ahmedabad. After retirement, my father wants to settle down in our hometown,” she said. Pantvaidya added property prices in Ahmedabad are very competitive as compared to many other Indian cities. “While my parents would go for a flat, I am planning to buy a farmhouse for investment purpose,” she said.

Like Pantvaidya, Sunil Gambhir, who works with a data management company in New Delhi, too has flown down for the event. “Looking at the infrastructure growth in Gujarat as well as in Ahmedabad, it is worth investing here. The Delhi Mumbai Industrial Corridor (DMIC) makes the investment even better,” he said. RL Kukreja, a textile trader residing in Maninagar, wants to invest in a property on the outskirts of the city. “Distance is not a problem, but location should be strategic. I plan to sell it off after five years,” he said.

Newly-wed Vijay and Shital Patel are eagerly looking for a house that can fit their budget. “New schemes in the eastern part of the city have provided good options for us. Purchasing a 2 BHK flat in the western part is out of reach for many,” said Vijay, who works with a private firm. “Apart from prospective buyers, around 40 students from architecture and interior design institutes visited the show for academic interest,” said Mehul Shah, a real estate developer.

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