Sudden Real Estate Surge Transforms Gift City Overnight: Developers Announce Land Acquisition Opportunities Tomorrow
Renowned Gujarati literary figure Chandrakant Bakshi was an avid enthusiast. Despite his critical stance on the state’s liquor policies, his demise did not witness the Gujarat government relenting. Bakshi had passionately advocated against the liquor ban, presenting compelling arguments on multiple occasions. The dichotomy between those advocating for liquor prohibition and a significant segment opposing it remains a prevailing issue. Recently, Gujarat government employees, officials, and Gift City executives were granted exemptions, receiving discounts on liquor purchases. This decision has sparked discussions among citizens throughout the state.
Preparations for the Storm of Transformation
The Gujarat government’s decision to grant discounts on liquor in Gift City has triggered preparations for a potential transformation in the global business ecosystem. Many IT companies from other states are eager to establish operations in Gift City, anticipating a surge in commercial, residential, food, and transportation sectors. The sudden increase in real estate prices, reaching 1500-2000 square feet overnight, reflects the impact of this decision.
“IT Companies Will Find a Soothing Oasis in Gift City”
Utpal Patel, a developer at a star group within Gift City, expressed in a conversation with Divya Bhaskar that two years ago, he initiated a commercial project. The local development in Gift City was his first commercial project, showcasing the region’s potential. At that time, many believed Gift City faced transportation problems, lacking significant development. However, recent policies from the government have brought numerous advantages. Utpal Patel highlights that Gift City’s culture appealed to those working in IT companies, providing a lifestyle they enjoyed. This factor has led to an influx of professionals into Gift City.
After Liquor Discounts, How Much Investment Inflow Is Expected?
Prior to the announcement of liquor discounts, our daily interactions witnessed 5-7 inquiries on average. However, post the announcement, we now receive 27-28 inquiries daily. Investors and users alike are attracted to Gift City due to the government’s decision, impacting the local development positively. Before the liquor policy announcement, even investors from distant locations were expressing interest, citing satisfaction with Gift City’s planning. This policy, despite not directly benefiting Gift City, has brought advantages to Ahmedabad and Gandhinagar’s residential markets.
Gift City – The Catalyst for Real Estate Growth in Gujarat
Explaining the potential growth in the real estate market, Utpal Patel states that Gift City is not the only beneficiary of this policy. Real estate in Ahmedabad and Gandhinagar will also witness a remarkable surge. For example, if an IT company with a staff of 20 currently operates, it will soon demand 12 homes. With 10,000 new people expected in Gandhinagar-Ahmedabad, the demand for 8000 affordable homes will rise. The exponential growth in real estate is evident, driven by the Gift City initiative.
“If IT Companies Come, Employees Will Have Homes to See”
Utpal Patel explains the impact on real estate growth, stating that this policy doesn’t just benefit Gift City; it accelerates growth in Ahmedabad and Gandhinagar’s residential markets. If an IT company with a staff of 20 operates today, it will demand 12 homes. With 10,000 new individuals expected in Gandhinagar-Ahmedabad, they will need housing. Those employees will contribute to various sectors, boosting the real estate market.
