There is anticipation and speculation ‘at play’ in Surat these days. The proposed Surat Diamond Bourse has created havoc in the property business, with prices of properties said to have gone ‘North’ in many areas.
The prices of properties in Vesu, Dumas, Bhimpore and Piplod are witnessing a sudden boom ever since an announcement was made recently by some diamantaires about their plan to set up operations of Surat Diamond Bourse (SDB) on Dumas Road in the city, according to TOI.
According to a Real estate developer, property rates have gone up by 20 per cent in anticipation of big boom in future. Investors, who had purchased properties three years ago, are waiting to reap profits. Land rates have gone up by Rs 10,000 per square yard especially in Dumas. The property rates are expected to go up by at least 25 per cent in the next six months.
Aruna Gaitonde, Rough&Polished correspondent in India
