These places are nearly 15 to 20km away from the core Guwahati city. However real estate developers are now taking interest in developing properties in sub urban areas. The real state activity has started picking up in those areas.

 In order to sell the properties there the developers are using innovative techniques of “east facing apartment” with sun and lake view. Film stars of Assam are roped in to endorse the advertisements of these apartments.

 The RBD Industries Ltd in association with Assam State Housing Board (ASHB) is coming up with a mega residential flat project in Guwahati. In this project, “ASHB holds 20.25 percent stake. These flats will be ready by 2010 with an investment of around Rs 100 Crore,” Mr. Sarma said.

 Chairman of Royal Group, one of the real estate developers, Ashok  Pansaria said,” We are developing two seperate residential complexes in Guwahati altogether it is a 350 residential flat project,” he said. He added that the real estate sector in the state is booming. There is huge demand. Prices of the properties are shooting up. “People are taking space for both residential and commercial purpose. Guwahati has the advantage of being the hub of commercial activities and the gateway to the Northeastern part of India,” he said. He observed that big malls and the demand for space for the showrooms has given a big boost to the sector. “Money is there and people want to invest in real estate as the investments double up in a couple of years. Every company wants to have its showroom in the G.S road and this is another factor that is propelling the real estate demand,” he informed.

 Sources in the industry said that while the rate of land per square feet in the G.S Road for residential purposes is around Rs 2200, the price for the same amount of land in the outskirts of Guwahati is around Rs 1500 to 1800. Similarly the price per square feet for commercial purpose is around Rs 3000, while if it happens to be on the ground floor, it costs around Rs 7000 per square feet.  

  The government of India will invest Rs 3100 crore in the next seven years under National Urban Renewable Mission for providing safe drinking water in Guwahati. At least 20 building works are initiated in the city every day and there has been continuous migration to the city from other Northeastern states and Upper Assam. This has led to paucity of buildings in the city as Guwahati now has a population of around 14 lakh.

 

 Sahara Group is planning to set up Sahara cities at Guwahati, Dibrugarh, Jorhat and Sivasagar and a number of luxury hotels at Guwahati and other places.

 The real estate promoters are now roping in renowned architects for designing the buildings. A couple of buildings designed by architect Hafiz Contractor are coming up in Guwahati.

 Rose Valley Group of companies which has diversified interest in real estate, hotels and entertainment is keen to initiate joint venture projects with the government of Assam. The group is also looking for a suitable piece of land at Cherrapunji, (now known as Sohra) in Meghalaya.

 Already the company has developed substantial real estate properties in Tripura. The company is now looking to make its foray in other Northeastern states.  The company has taken up housing project at Dibrugarh in Upper Assam. The cost of the project is around Rs 15 crore.  Similarly it is developing Rs 15 crore worth housing projects at Biswanath Chariali in Northern Assam.

 The company has acquired 150 acres for the housing project in Shekarkot, Agartala. The project cost is estimated to be around Rs 150 crore. It has also acquired 12 bighas of land for the real estate project in Sibsagar district in Upper Assam for developing real estate projects. The project cost is around Rs 8 crore and is in the planning stage. The group is also a corporate agent of Life Insurance Corporation of India (LIC). Sources in the company said, “We have already done a housing project in Bardwali in Agartala. We have also developed an amusement park in Agartala in Tripura and invested around Rs 30 crore. It is developed in the lines of the Nicco Park of Kolkata. We have a plan to develop a resort in the vicinity of the park. We are looking to develop a housing complex at Surjamani Nagar in Agartala with an investment of around Rs 20 crore.  We are also looking for suitable lands in Upper Assam and other areas of the Northeast for developing real estate properties.” 

 Rose Valley Chain Marketing System Limited, a flagship company of Rose Valley has started its operations in Guwahati. Already it has employed over 42,000 members under its chain marketing system. It has over 70 branches in Assam.

Sunaina