Properties in Baroda are booming following the recent spurt of construction activities initiated by real estate developers and builders in cooperation with city administration. The zeal of Urban Development Authority for the quick development of Baroda properties can be seen in the signing of MoUs with a number of construction companies. According to the deal, these private companies will help government establish IT parks, residential complexes, office spaces and commercial structures. A Singapore company has also been roped in to develop a Special Economic Zone in Baroda. Besides, there are many NRIs who had roots in the city and are now turning back to their home town for real estate investments. As a result, the future of real estate development in Baroda seems highly promising.
Baroda is the third-most populated city in Gujarat with a population of over 1 million. According to 2005 census Baroda is home to almost 1.729 million people. The name of the city has been changed a few years back and it is now called 'Vadodara'. It is located on southeast of Ahmedabad and is known as the Cultural Capital of Gujarat. Vadodara is famous for its university and culture. Major industries include textiles, petrochemicals, engineering and a small but growing software industry. Buying property is a good and profitable idea as the property keeps increasing. Investing in Baroda property is, thus, the safest decision for many real estate investors, especially for NRIs.
Some of the upcoming projects for real estate development in commercial segments include the construction of a technology park by L&T in Bapod-Ankhol, an IT park by Parkway Realty in Dena and Nimeta and a Bio IT park by Akruti Nirman In Savil. These projects, once operative, will give a major thrust to the development of IT sector in the city.
The prospect of financial boom following the growth of IT business in the city has also encouraged builders to come up with shopping malls, multiplexes, retail stores, showrooms for hi end products etc. Consequently, the Kalani Group is coming up with the idea of setting up an exclusive mall cum multiplex in Baroda very soon.
In residential segment, several housing projects are in pipeline. Some of the big names include Narayan Housing and Siddhi Vinayak. The former is planning a housing project at Hanumanpura while the latter is working on the idea of a housing society near Makrapura on Mumbai Highway. Besides apartments and flats, the city of Baroda is also a flourishing ground for the construction of bungalows and villas. Even the availability of luxury apartments is no more a problem in the city.
Buying property in Baroda has been made easier by the real estate agents located here. Dasondi Real Estate Agency, Auro Estate Consultant, Pratham Realty and Baxi Estate Agency are some of the property dealers in Baroda.
