Jamnagar

Jamnagar is India's emerging refinery capital located in Gujarat. It is a district, which lies just to the south of the Gulf of Kutch. Jamnagar is the home of the world's largest refinery near Moti Khavdi village, setup by India's largest private company, Reliance Industries Limited. It is also the home of Essar Oil, other important oil refinery of India. Jamnagar is very close to Pakistan mainland, due to that Indian navy and Air Force have established their bases here. The city is well connected to other parts of India by road, rail, and air. It is also connected to other important cities of Gujarat like Rajkot, Porbandar, Junagarh etc. It has a daily flight to Mumbai. It also has a port, which makes it accessible by the sea route.

Real Estate Scenario
Jamnagar is considered as one of the most important cities of Gujarat. It is witnessing a real estate boom in recent times. The residential and commercial property prices have gone 40-50% higher. The investment of Rs 45,000 crore is to be put in the development of Special Economic Zones, which is largely responsible for the boost in realty market. The real estate is flourishing with large number of projects coming to the city. Major real estate developers like DLF, Rahejas, and Parsvnath are looking for plots to construct residential apartments and commercial complexes. The entire scenario makes the city a good prospect to live in and to invest in real estate.

Residential Real Estate
The prices of residential properties in Jamnagar have doubled in the recent past. The rents are also touching the sky. The rent for a 2/3 bedroom flat in locations like Panchvati, Patel Colony, Park Colony, Sarva section road , Mahavirsinh area, and Balkeshwar is touching around Rs. 8000-9000 per month.

The nearby locations of the city are also influenced by this hike in property prices. The fast increasing prices and bulk selling of plots is mainly due to exceptionally good quality of life in the city. Also the development of SEZs, and the expansion and construction at Reliance and Essar refineries are attracting large number of Engineers, and other employers pushing the realty market up.

Commercial Real Estate
The high speed industrialization of Jamnagar has caused a 100% rise in the rate of commercial properties in last one year or so. According to the local developers, the commercial land prices have seen a rise of Rs 1,000 per square feet in last six months in the areas like Bedi Bandar Road, and Pandit Nehru Marg, Teen Batti, Airport Road, and Khodiar Colony. The fringes areas of the city like Khambhaliya Road and Lalpur Road have also witnessed the rise of property prices in recent times.

The retail sector is also spreading its arms in the city as the big names in this sector, such as Big Bazaar, Reliance, ISCKON, and Niho are fully prepared for opening their outlets in different parts of the city. According to the industry sources, Reliance has bought a property of 50,000 sq feet near Khodiar colony to set up a shopping mall. In coming time the city will see several shopping complexes and multiplexes. The reasons behind this upsurge in Jamnagar commercial property are Reliance's upcoming refinery at its SEZ, and Essar's coming refinery and proposed SEZ. With all such developments the city is likely to become the world's biggest refinery center and it is a very good sign for the realty developers.