Rajkot realtors want Infra development in outskirts: RBA

Rajkot Builder Association (RBA) feels that the city needs to develop infrastructure in the outskirts of Rajkot to drive growth in the real estate sector.

"Rajkot is one of the most developing cities. While the growth in realty so far is good, development of infrastructure in the outskirts would help to grow more business. It would also help people to get properties at affordable rates", said Hitesh Bagdai, president of RBA.

The size of the real estate market in the city is estimated to be around Rs 4000 crore and is expected to cross Rs 5000 mark in the next year. RBA felt that to cater to the demand of the city, at least 15000-20000 residential properties are needed every year. At present about 40000 residential properties are developed per year in Rajkot.

 

Hement Patel, chairman of RBA said "Most buyers are end-users. The proportion of investors is around 15 per cent. Requirement for residential projects is on the rise as industries like engineering, automobiles, forging are fast growing. Of the net realty projects, nearly 20 per cent are commercial developments, while 80 per cent projects are for residential purposes”