In a positive development for the real estate industry in Gujarat, commercial real estate has been picking up momentum. Different sectors and industries in the state are expanding which has led to a high demand of office and retail space in the key cities. People from various other parts of the country are visiting Gujarat to benefit from the employment and business opportunities. According to the information furnished by GRERA (Gujarat Real Estate Regulatory Authority), the state witnessed a 24% rise in registration of commercial projects in 2021-22. In the previous financial year, there were 171 registrations, which rose to 213 in the current financial year.
Among the newly registered projects, Ahmedabad recorded as many as 76. In this city, commercial property registration soared by 17% from the previous financial year. According to real estate experts and developers, buyers and business houses currently have better confidence and concrete plans. As a result, they are planning to expand their respective ventures after the pandemic.
Most industries are showing a bullish expansion pattern, which has led to an increment in the demand for commercial properties. Office spaces, showroom spaces, and retail spaces are undergoing high demand. New developers are already coming up with elegant office spaces and business zones in the state. Investors are keen to make these purchases, as they can earn a consistent return in the form of rent. Moreover, the state has recorded high property value in the last few years. As the price keeps soaring, investors can enjoy good returns on selling off these properties.
