AHMEDABAD: In the news for land acquisition issues in recent times, Sanand is a city and a municipality but above all, is an emerging property traction point in the automobile hub of Gujarat. Its emergence from a small village near Ahmedabad city, that was ruled by the Vaghelas, in to a property hotspot has a lot to do with the economic activity that was catalysed due to it being the automobile hub. It nevertheless carries a rich cultural legacy with the Palace which was built by the Vaghelas and it is the home of the royal family of Sanand. Despite of being an industrial hub, Sanand still adores a cultural look in its buildings.
Sanand is part of the dedicated Viramgam Special Investment Region of Gujarat. What makes it an ideal industrial settlement is the fact that it is located near the city of Ahmedabad; Sanand is about 70 kilometers (40 miles) from a recently rebuilt international airport. It is linked to Ahmedabad and Kutch by Gujarat State Highway 17. The State Highway 17 joins India’s National Highway 8, part of the recently completed 4-lane Golden Quadrilateral Highway linking Sanand to many of the major industrial, economic and cultural regions of India.
Sanand is also connected by a modern highway to Mundra Port, a fully operational and one of the fastest growing, recently expanded sea ports in Southeast Asia. Sanand is about 350 kilometers (220 miles) from Mundra port. It is also close to the proposed Dholera Port and international airport.
The property analysts believe that it is poised for high appreciation as once approved and built, Dholera will provide Sanand with a secondary and competing means of air, ocean and road logistics, both within India and to global markets.
In addition to modern highways, Sanand-Viramgam has an operational broad gauge railway network connecting it to major industrial centers located in Gujarat. Land prices are at an all time high in the region as Sanand has become one of the booming entrepreneurial centers in India.
Like industrial hubs in the developed countries and export centers in China, Gujarat Government offers a number of competitive incentives to companies seeking to set up operations within Sanand region, like income tax incentives, 10 corporate tax holiday on export profit – 100 per cent for initial five years and 50 per cent for the next 5 years, exemption from dividend distribution tax, indirect tax incentives, zero customs duty, zero excise duty, exemption from central sales tax and exemption from service tax.
Sanand has recently attracted commitments of billions of US dollars in investments from some of world’s largest companies. Some of these companies have already started producing and shipping products, while others have announced facility completion and product shipment within the next 1-3 years.
Plots are available in the Sanand region in the price range of around Rs 4000 per sq feet to Rs 6000 per sq feet. Though apartment culture has not really picked up the way it has in and around other property markets of Ahmedabad, land prices are continuously going up ever since Tata Motors shifted its Nano plant in this region in 2008. Analysts believe this market falls into high appreciation potential zone due to the thriving industrial activity and soon it may not be the market for plotted developments. At least, some of the first mover apartment projects indicate this trend.