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Real Estate

 

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The real estate sector in the country is one of great importance. According to the report of the Technical Group on Estimation of Housing Shortage, an estimated shortage of 26.53 million houses during the Eleventh Five Year Plan (2007-12) provides a big investment opportunity.

India leads the pack of top real estate investment markets in Asia for 2010, according to a study by PricewaterhouseCoopers (PwC) and Urban Land Institute, a global non-profit education and research institute, released in December 2009. The report, which provides an outlook on Asia-Pacific real estate investment and development trends, points out that India, in particular Mumbai and Delhi, are good real estate investment destinations. Residential properties are viewed as more promising than other sectors. While, Mumbai, Delhi and Bangalore top the pack in the hotel 'buy' prospects as well.

According to the data released by the Department of Industrial Policy and Promotion (DIPP), housing and real estate sector including cineplex, multiplex, integrated townships and commercial complexes etc, attracted a cumulative foreign direct investment (FDI) worth US$ 8.4 billion from April 2000 to March 2010 wherein the real estate and the housing sector witnessed FDI amounting US$ 2.8 billion in the fiscal year 2009-10.

According to the Confederation of Real Estate Developers' Associations of India (CREDAI), the affordable housing segment is set to play an important role in India's real estate sector in 2010 on the back of substantial demand.

"Affordable housing will be a key factor in driving the sector and we have already started working on progressive solutions in this area for effective and customized implementation of such projects," Confederation of Real Estate Developers' Associations of India (CREDAI) Chairman Kumar Gera said in January 2010.

Moreover, 2010 is expected to be a positive year for the real estate sector. The revival is expected to be driven by infrastructure growth, which in turn, can accelerate real estate activities both in the residential as well as commercial spaces.

EOPL has identified and selected a few locations in Gujarat and its working towards becoming one of the most profitable and trusted real estate investment company in Gujarat by leveraging upon existing opportunities and creating new prospects simultaneously through selecting appropriate locations with long, medium and short term perspective.

Located on the western coast of India, Gujarat has the longest coastline in the country at 1,600 km, and has one of the strongest port infrastructures in India. The state has 42 ports along a 1,600 km coastline, including one major port at Kandla and 41 minor ports and it is the first state in India to take up port privatisation. The agro sector, including animal husbandry, contributed 14.8 per cent (at current prices) to Gujarat‘s Gross State Domestic Product (GSDP) in 2006–07. In 2008–09, Gujarat was the highest exporter of cotton in India at 60 per cent. It was also the highest contributor of man-made fibre (31 per cent) and man-made filament yarn (38 per cent) in the country. Gujarat is the largest producer of denim in India (65 to 70 per cent) and the third-largest in the world.

Gujarat ranks first in the production of crude oil (onshore —55.10 per cent) and natural gas (onshore —32.3 per cent) in India. The state has the highest number of oil and gas fields, both onshore and offshore, in India (31.3 per cent). Nearly 36.6 per cent of India’s installed refining capacity is in the state of Gujarat. The state is the highest contributor to the total national production of petrochemical products.

Gujarat accounts for 72 per cent of the world‘s share of processed diamonds and 80 per cent of total diamonds processed in India, with eight out of 10 diamonds in the world being polished in Surat. It is internationally renowned for the production of unique hand-made silver ornaments (85 per cent of total silver jewellery production of India).

The GSDP of Gujarat was US$ 61 billion (E) at current prices in 2007–08 and the state has set the highest growth target of 11.2 per cent for the Eleventh Five Year Plan. The per capita income of Gujarat in 2006–07 stood at US$ 829.6, higher than the national average of US$ 655.2. The tertiary sector is the highest contributor to Gujarat‘s economic basket, while manufacturing accounts for the largest share of employment across industries in Gujarat.

Gujarat Real Estate Scenario

Gujarat accounts for 6% of the total geographical area of the country and around 5% of the country's population
Gujarat is one of "The Urbanised State of India" with 38% share of urban population as compared to 27.78% share of urban population in India
During 1991-2001, Gujarat has witnessed a growth rate of 33% in urbanisation as compared to 21% in the country
The Government of Gujarat outlay for urban development for the year 2010-11 is Rs.30 billion
Approximately tenfold increase in the budget of Urban Development Department in last five years
3 of the 13 largest cities in the country will be in Gujarat
Gujarat is projected to have 66% urbanization by the year 2030
2nd largest number of project in the country
Out of 27 projects approved in state, 23 have been completed
20 more projects would be completed by 2011-12
Swarnim Jayanti Mukhya Mantri Shaheri Vikas Yojana – Rs. 70 Billion reform-linked Scheme
Gujarat International Finance (TEC) City
Metro Rail System between Gandhinagar and Ahmeadabad
Regional Rail System for Ahmedabad
Sabarmati River Front Development
   

Investment Climate

Highly industrialized state, with more than 38% GDP contributed by secondary sector.
Creating value for investors, ranked as the best state for investment approved by financial institutions
Top contributor to Indian economy, around 22% of the Indian exports contributed by Gujarat
An economy on the boom and beating recession, CAGR of GSDP more than 10% since 2004
State with highest number of MoU realization
Utility cost one of the least as compared to competing destinations
Taxes at par with other business destinations
Globally cost competitive labor force
State with minimum labor trouble and man-day loss
   

EOPL works with Investors both local and global to guide their investment strategy in the Gujarat Real Estate Sector. EOPL devises complete investment strategy for its investors based on their location and risk preference.

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