Dholera, a small town in Gujarat, has gained significant prominence in the Indian realty map and has recently emerged as a hot realty destination. The main reason for this is the government’s decision to create new smart cities and Dholera is one amongst them.
Dholera as a smart city
Dholera is a small industrial town within Ahmedabad district limits in Gujarat. It is a port city and is in proximity to the western coastal line, near the Gulf of Khambhat.
The town is well connected to other cities of the state. It lies on the junction of the Bhavnagar-Pipali Highway and Dholera Road. National Highway 8 connects the Dholera Special Investment Region (SIR) to Mumbai, Bhavnagar and Ahmedabad, while NH-8A connects it to Bagodra, augmenting the Bagodra-Surendranagar-Radhanpur and Bagodra-Bhavnagar links. The Mumbai-Ahmedabad-Vadodara expressway, which is the part of the Golden Quadrilateral connects the region. Apart from these highways, the nearest meter gauge is in Bhavnagar, which is about 34 km away.
Key Drivers of growth
There are several reasons why Dholera has been earmarked as a smart city. Proximity to Ahmedabad as well as its good connectivity due to national highways, the Delhi Mumbai Industrial Corridor (DMIC) and distance from the Dedicated Freight Corridor (DFC) in Central Gujarat provide the town a locational advantage.
Another reason for the growth is the existing Dholera SIR spanning over an area of 920 sq. km. The region is to be developed as a global manufacturing and trading hub with world-class infrastructure. The region is featured as a centre for industries, IT companies and logistics. The special investment region serves a platform for public private partnerships and provides a framework for it. There are several civic and social amenities planned here including golf courses and parks. The region is also close to GIFT city in Ahmedabad.
The central government is already preparing to invite bids from other countries such as Korea, Germany, USA and UK in the next three months. Japan is also providing a support of USD 4.5 billion for the first phase of several industrial projects across the country including Dholera, through JICA and JBIC. DMIC too is already seeking Rs 7,500 crore for building three new cities along the corridor including Dholera and Shendra in Maharashtra.
Real estate scenario
The presence of Dholera SIR and the expectation of a smart city are already driving Dholera’s real estate. Dholera Metro City is the first residential township in Dholera SIR. There are already different phases being developed in Dholera Metro City. While there are not many apartment or residential projects in the area yet, there are several residential plots being sold in SIR by developers such as Bkesar Group, Jeevansrushti Infraprojects Pvt Ltd and Magnanimous Infra Pvt Ltd. The Dholera SIR Infra Development Ltd too is developing residential plots in the Dholera Metro City area. Sizes of residential plots range from 900 sq. ft to 9,000 sq. ft. The prices of these plots range from Rs 2 lakh to 29 lakh, depending on the location and developer.
With the government speeding up the process of bidding for investments and development of the region, one may soon expect good returns if invested in the region’s real estate.