Ahmedabad Developers Expand Footprint Nationwide and Internationally
It’s not just national developers coming to Ahmedabad; many city developers are going national and international by undertaking projects in states like Maharashtra, Karnataka, and even crossing borders to establish a presence in the USA. After proving their mettle with multiple successful projects across residential, commercial, mall, and plotting schemes in Ahmedabad, local developers are now exploring and developing real estate ventures in cities like Bengaluru, Mumbai, Pune, and as far as New York and New Hampshire in the USA.
From Gujarat to global markets, developers including Goyal and Co., Bakeri Group, HN Safal, Bsafal Group, Iscon Group, and Savvy Group have already launched projects in other states, continuously exploring additional cities to cement their positions as national developers. MD of Bakeri Group, Pavan Bakeri said, “We have one project in Pune and we are also looking for newer opportunities in cities like National Capital Region (NCR), Bengaluru, Chennai, Indore along with Pune.” Explaining further, he said, “This is primarily for geographical diversification and making a newer investor base. Also, these cities help to a greater extent in getting more transparent deals often; both in transactions with land owners and end users too.”
Financial scale and market potential are significant factors driving the expansion. Developers believe that expanding into larger metropolitan markets significantly increases their business volume and revenue potential. MD of Iscon Group, Jateen Gupta told Mirror, “Currently, we are developing two projects in Mumbai; one project is a mixed development with 22 floors in the Vile Parle East area, another is a residential project in Bandra East.” He added, “While we are doing projects in Ahmedabad, Surat, Bhavnagar, our equal focus will be in Mumbai as the scale of the projects is much higher as the per sq ft salable price varies from Rs 35,000 to Rs 50,000 per sq ft in Mumbai.”
Mumbai offers maximum scope for growth. Founder of Savvy Group, Jaxay Shah said, “Currently, we are doing two residential projects in the maximum city’s Andheri and Ghatkopar areas.” “We want to do all kinds of projects here in coming years as we find the market favourable. With many Gujaratis living here and Mumbaikars doing business closely with Gujarat and due to the development of a faster rail network, the distance between Ahmedabad and Mumbai has reduced,” he added.
International ambitions are also on the horizon. While Bsafal is executing real estate projects in New York and New Hampshire in the USA as well as in Mumbai, Goyal Group and HN Safal Group have joined forces to develop residential and commercial projects in Bengaluru. Agreeing with the trend, CREDAI Gujarat President, Dipak Patel said, “Many developers from Ahmedabad are heading towards other states to make their national presence. This helps in business expansion as well as in brand building.”
We have one project in Pune and we are also looking for newer opportunities in cities like National Capital Region (NCR), Bengaluru, Chennai, Indore along with Pune – Pavan Bakeri, MD, Bakeri Group
