Guwahati, May 24 : Guwahati, the capital of Assam is the most important destination of Northeast India. It is surrounded by the Seven Sister States- Nagaland, Arunachal Pradesh, Meghalaya, Mizoram, Tripura, and Manipur. Guwahati is famous for its rich coal reserves, natural gas, oil industry and tea plantations. Being the largest city of Assam, it is the industrial, Educational and commercial hub of the state.
Guwahati is located on the bank of the Brahmaputra River and is heralded as a corridor to the entrance of northeastern states of India. It is one of the most rapidly developing cities today as large scale investments in real estate in Guwahati and nearby areas are being made. The primary reason for such growth is the ever-growing population of the city. This considerable increase in population happened because Guwahati is the economic centre of the state and so, the most preferred destination for migrants in Assam.
The fast paced development of industrial Sector attracted more number of professionals in the city. These employees then with cheap products leader in the growing demand for residential property. Guwahati is home to some very important Educational institutions in the country like IIT and other universities worldwide. Students from all over flock to the city, while an increase in demand for living space.
Knight Frank, a leading global real estate consultant firm that has an enormous population growth in order to beneficial for Guwahati property market. Large numbers of residential units comprising individual houses, apartment buildings, etc. are developing fast in the city. High street retailing is also flourishing with various departmental stores, supermarkets and large format stand-alone stores being established. Organized retail has also been growing with apparel stores and food and beverage chains setting up their flagship stores in the city.
Though Guwahati hasn’t seen an IT wave as prevalent in other cities but FMCG, insurance and financial companies have been taking interest in bringing their operations to the city. Many more are scouting for vacant land in the city to settle their presence in the city as central locations have almost reached saturation levels. The peripheral areas of the place are on the path of becoming new hotspots for real estate development. Due to such large-scale growth, hike in rates of property in Guwahati have been recorded from past few years.
The noteworthy developments among the residential projects that have shaped in the city in the residential sector include the following:
Guwahati Metropolitan Development Authority (GMDA) has come up with a Games Village at Sarusajai consisting of 700 residential units.
Another project by Brahmaputra Constructions comprising 150 apartments on RG Baruah Road is another important project.
Various infrastructure development projects are Progress in developing this emerging area of Assam. The Games Village Township generate further economic developments in the region. Many companies national and international retail brands are expected soon to Guwahati Real Estate Market.
In addition, local property developers building many residential and commercial projects such Reischach Ville, Southern Retreat, Protech Park AGRIM Residency, Uttarayan Open, Zenith Heights, The LegacyRoyal Circle and many others. In addition to these, Divine Plaza in Ganeshguri, Vishal Megamart at Paltan Bazar, Shopping centre called Hub at Bhangagarh, multiplex named Dona Planet, etc. will open shortly.
Guwahati witness huge migration from around the country, especially from north eastern states. These developments are instrumental in accommodating this population and in supporting the economic growth of the city. Property in Guwahati is all set for a higher boom and comes across as an ideal time for investments in property.
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