Realty sector experience boom in Guwahati

January 6th, 2009 - 11:04 pm ICT by ANI  

By Peter Alex Todd
Guwahati, Jan.6 (ANI): As the land continues to get costlier and nuclear families continue to increase, flat culture is popularizing in Assams biggest city Guwahati. There has been a remarkable increase in the number of flats in this city in the recent past.
Guwahati, the commercial hub of Assam, is heralded as the gateway to the northeastern states of the country.
With most of the economic activities of the entire region usually occurring in Guwahati, the city has witnessed a considerable migration from within as well as from the neighboring states. It has caused 40 per cent population growth here.
This considerable population growth is also believed to be the main reason behind an increased demand for flats here.
“People have a feeling that they should adopt the flat culture because the cost of land is very high at the moment. So, even the old people also prefer it. They prefer to stay in a flat because there are lots of problems in an individual house, said Guna Tamuli, a builder.
Also, the increase in the number of the nuclear families and the desire for security has given a further boost to the ”flat culture” in Guwahati city. Public here finds the flat system better than opting to buy land and then carrying out construction on it.
“Flat culture is very good and with the concept of nuclear families coming into the society these days, it’’s very easy to get a flat, get it registered. If you purchase a piece of land, you have to cover it and guard it against any encroachment. Purchasing a flat is much easier and suitable, said V. Dasgupta, a customer.
In order to lead a safe and secured life this housing complex is very important for me, said Anup Chaudhary, a flat owner.
There is high demand for residential place but non-availability of land has led to the rise in the prices of the flats, which has scaled up by almost 60 per cent in last few years.
The price of an apartment in the prime location of the capital may vary anywhere between Rs.1.5 to 2 million rupees.
However, the growth of real estate in Assam largely depends on the success of the Industrial Policy of Assam government, which encourages private investment in industrial and infrastructure projects.
The city’’s real estate market is growing in the wake of exceptional construction activity with sizeable investment in various infrastructure projects from the Centre and private investors bringing economic boom to the northeastern region as well. (ANI)

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