Real Estate Trends in Guwahati

Guwahati, the largest city in North Eastern region of the country

, is the 5th fastest growing city in India. It is the most important city of the region both commercially and culturally while being a leading education center. Guwahati Real estate is developing rapidly like other sectors of the city to cater to the constantly growing demand for housing and industrial units.

Heralded as the Gateway to North-Eastern India', Guwahati drives the economy of the state of Assam. The city holds huge significance across sectors related to trading, marketing, retail, transportation and health. Besides these, it houses various mini hubs like Pan Bazaar, Paltan Bazaar, Fancy Bazaar, Ganeshguri, Beltola Bazaar and G S Road vital for wholesale products, printing and publication, hotels, shopping, etc. With such large scale activities in all sectors, an urgent need to develop city's real estate segment has emerged. Conspicuously, the demand for property in Guwahati has multiplied attracting developers and builders from nearby areas to invest in the sector. Even when other cities of the region are not as developed as other important cities, Guwahati certainly stands at par with them.

Guwahati property market is all set to become a major realty destination in the entire North Eastern region of the country. It has transformed from a small town to an urban city with world class structures today denoting quality and affluence. The recently attained high standard lifestyle is constituted by luxury housing setups, well maintained highways and flyovers, top notch education facilities and other such developments. With growing opportunities in education and career segments, migration of people from both within and outside the state has become prevalent. A rise of more than 40% is seen in the population of the city in just a decade and this has raised demand for realty in Guwahati. The same has been confirmed by Knight Frank, a leading global property consultancy firm while emphasizing on the transformation of structural setups in the city especially in residential sector.

From individual houses to apartments and residential complexes on RG Baruah Road and GS Road, residential property in Guwahati is undergoing changes. Owing to the highstreet retailing wave, retail property sector is also catching up in the city with setting up of departmental stores, retail outlets, supermarkets, food & beverage chains and large stand alone stores. As far as commercial property in Guwahati is concerned; some of the FMCG, insurance and IT companies are making their presence felt along with already existing government organizations. The humungous development across the residential, commercial and retail divisions is in a way solely responsible for the boom in realty spectrum. But it is important to consider other factors like increase in population and modernization trends as well since they created the ultimate need for these developments.

Guwahati has many places of interest that puts it forth as a tourist destination. The rising numbers of tourists also necessitate the urbanization of city's infrastructure and accommodation facilities. As a result, commercial property in Guwahati is experiencing various new establishments set up by leading developers of the country. Even though the city developed gradually according to Knight Frank, it started speeding up in last few years. The realty costs in the region have started scaling up considerably when compared to those last year. It houses almost 25% of the state's urban population leading to an incessant demand from the buyers. The influx of professionals and students has set the residential rental market of the city at a high with rents too witnessing an upswing.

The real estate in Guwahati is emerging as an investment destination with its realty industry promising good returns.

Real Estate Trends in Guwahati

By: Deepika Bansal

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