Proximity to automobile hub Sanand has turned the fortunes of South Bopal with realtors moving in with residential and commercial projects in the area from where Sanand is just a 20-minute drive.
City-based realtors like Goyal Developers,Safal group,Gala Infrastructure and Pacifica have come up with dozens of projects in anticipation of a spurt in demand for houses by professionals employed with global auto majors.
Currently,I have three upcoming projects in South Bopal,ranging from 2 to 3 BHK affordable flats to high-end apartments. We have already sold around 40 per cent of these flats. Proximity to industrial areas like Aslali and Changodhar areas is a bonus, says Dipak Patel,MD of Aarohi Group that is currently floating projects like Elegance,Crest and Pal in South Bopal.
What has also mobilised migration to Soth Bopal is the presence of other big names like Ultratech cement,Parle,Intas Pharmaceuticals and Zydus Cadila in the vicinity.
So much so that two city-based realtors,H N Safal Group and Gala Infrastructure Pvt Ltd,have come up with a joint venture called Gala Sobo centre that will have both commercial and residential space.
We have one of the largest land parcels in South Bopal and are developing it through this JV. Although it is still an investor-driven pocket,an influx of professionals from the automobile industry has increased our occupancy levels in our older schemes Parishar 1 & 2 by around 70 per cent in the last six months. Appreciation has happened quickly at Sobo. Land prices have shot up from Rs 1400 per sq feet to Rs 2,800-3000 per sq feet in a years time after automobile companies moved in, said Uday Vora,chairman of H N Safal group.
Residential rentals too have jumped by 46 per cent in the past two years. I have managed to get homes for around 50 to 55 Tata Motors professionals and am also looking after residences for Ford employees. Affordability being a driving force,realtors have also kept the prices low keeping the purchasing power and the cosmopolitan nature of the crowd coming in mind. In five years,this area will see major development because of the influx of high-income and mid-level professionals. Shalby and Krishna heart hospitals are expected to set up facilities soon in the area. AUDA is developing four gardens and they have a proper town planning in place now, Prakash Bavadiya,CEO,City Estate Management,said.
So,what makes Sobo attractive to these new comers?
R Kannan,AGM with the Tata Motors in Sanand who bought a 2 BHK just six months back,says,I could not find affordable housing in a short time anywhere else in the city. Prahladnagar was my first choice but since realty there has skyrocketed,Sobo was a natural choice. Here,I have cut my commuting time tto the plant to less than 20 minutes. While flooding during monsoons is a concern,affordability and flats ready for possession were the deciding factor.
Six of the citys schools are located in the 20-km radius of South Bopal as well.