Several individuals bought an apartment or a small property at a rate of Rs 3500 per sq ft located at the SG or Sarkhej Gandhinagar Highway situated in Ahemdabad, in 2011. At that time there were many who laughed and joked about such individuals because of their real estate investment decision. This is because people thought that it would be one of the biggest blunders of their life to invest in such an area.
Though there are various critics who consider this decision as a bad investment decision. This assumption of the critics may seem to be true until 2012. It is because in the year 2012 the selling price of the apartments reduced to Rs 3500 sq ft from Rs. 4000 sq ft. Apart from this, there were several reports which suggested that the true price of the could be lower than this. However, in today’s time the value of the apartment which are situated around the SG highway. Now the rate has risen to Rs. 4200 per Sq ft and in some areas the rate has also reached to Rs 4500 per sq ft.
Therefore, it is proved that it is a very good choice to invest in commercial real estate as the value of the property is increasing day by day. Below are some of the reasons which are responsible for the increased cost of the properties which are near to the SG highway.
The increased popularity of SG Road:
Several analysts believe that one of the major reasons behind the increased popularity of the SG highway is that it acts as a connection between the Ahmedabad and Gandhinagar. In addition to it, this highway also plays a significant role in trade and as a major route of transport. The main purpose behind the construction of the SG highway was to create a by-passing route to the city of Ahmedabad.
With the passing time, the cost-effective land prices were successful in attracting the major retail brands and hence they also purchased some property in the SG Highway. In recent times the prices of the land have also surpassed the other influential areas of the city. One of the tallest commercial properties of Gujarat is also located on SG Road. Due to all these reasons the prices of properties of SG highway are still rising.
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Some of the major advantageous SG Road
The SG Highway is now regarded as one of the hubs for the entertainment and other corporate activities. Besides these, there are several other multinational organizations that have increased the economic activities in these residential areas. Nowadays there are several malls that are located on the SG highway. There are various international car showrooms which are also located on this highway.
One of the major reason which is behind the residential growth is the sudden increase in the job markets. There are many organizations which are offering living options to the professionals. This area can be considered as a one-stop investment destination for various individuals.
Increased interest in NRIs
There is one more thing that has also played a major part in influencing the rates of the property around the SG highway and that is the increased interest of the NRI’s. There are a large number of NRI’s which have purchased a property in this region. Though the NRI investment is not a new phenomenon, it is being happened for the last couple of months. Though this investment resulted in many new good opportunities and good government policies. The market has provided various advantages to the investors as well.
High Asset Value
It is very essential to invest in those assets which give high return value. Several properties don’t provide high return value and the selling price of the property remains the same. Therefore, an individual should make sure that he/she should invest in high-value properties. The properties around the SG highway are extremely beneficial and renders high returns to the investor.
Gain the Real Estate Appreciation Value
In today’s time, people are investing more in residential as well as commercial properties. Hence the prices of these properties are also increased. It is observed that the prices of the residential properties are very much affected by the economic growth of the country. Therefore, when the investments increased the prices of the property also increased to a hundred folds. Let us consider an example suppose if a person buys a property of Rs. 35 lakhs and over a period of 5 or 7 years the price of the property increases to 50 or 70 lakhs it can be considered as profitable for the investor.
Things to be noted before buying a property
Before buying any kind of commercial property, the investor must pay close attention to the following points. This is because there is a huge possibility that the investor can face any kind of problem or legal issue. Below are some of the points which should keep in mind before purchasing any commercial property in SG highway Ahemdabad.
An investor should be careful in buying any property
One of the major problems arises when a real estate investor or a person decides to buy a property then it is recommended that he/she should thoroughly check all the documents and others fulfill other formalities. In addition to it, the credibility of the broker should also be checked before making any decision on the investment as well.
Pay close attention to all the necessary documents
It is recommended that every investor should pay close attention to all the details which are mentioned in the documents or contract so that the chances of misunderstanding between the buyer and seller decreases. Apart from this, the communication between the investor and broker should be very clear and to the point, so that deal could be done effortlessly.
One should see all the possible options
Besides all these, it is advised that an individual should search for all kinds of options that are available in the market. The area of SG highway is very vast and hence buying a property around that can be a little confusing. Therefore an investor should also see different options. The buyer should discuss these options with their family members as well. This will open their mind to various possibilities also.
The area around the SG highway is very sophisticated and posh plus the rates of the properties around it are also increasing with high speed. Hence, it is recommended that an investor should think of buying a commercial property around that area. This will also help in increasing the portfolio of the buyer.