Nadiad is a city that falls under the Kheda district in Gujarat. This city has a major railway junction which is one of the major stations in the Ahmedabad-Mumbai route. Nadiad also has a major bus stand.
This city is well-known for its educational institutions, trade industry and food processing units. Nearest railway station is Nadiad Junction and there is also Sardar Vallabhbhai Patel International Airport which is situated in Ahmedabad. Keep reading to find out how investing in residential real estate property in Nadiad might be worth your money.
Top Reasons to Invest in Nadiad Real Estate
Let us check out a few reasons why you might want to invest in residential real estate in Nadiad:
- Good Facilities
Nadiad has many schools that provide the best education to children. The most important factor here is that these schools are quite affordable which means even lower-income group people can also afford quality education for their children here. Apart from this, there are many hospitals like Anjali Hospital, Rudra Multi Speciality and Shivam Hospital that offer world-class treatment to patients free of cost.
In terms of infrastructure as well Nadiad is an emerging locality. All roads in the rural area here are paved with concrete or asphalt. In terms of connectivity, the nearest railway station is Anand and the nearest airport is Sardar Vallabhbhai Patel International Airport which is only 47 km away.
Residential Real Estate Investment Opportunities in Nadiad
Following is a list of some places that might be suitable for investing in residential real estate in Nadiad:
- Pij Road
This is one of the best localities worth residing in. Pij road is well-developed and many shopping centres are present in the vicinity. The bus stand, railway station, hospitals and schools are also present within the vicinity. Transportation facility is also great here owing to its proximity to the main road. Rate of residential property in the locality ranges from around ₹2,777 per square foot to ₹14,000 per square foot.
- Vaniya Vad
This locality has high living standards. All basic facilities are available within a 1 km radius. A railway station and bus stop are also present in the vicinity. Many eateries, like Domino’s Pizza and Mcdonalds’, multiplex cinemas and amusement parks are present in the vicinity. Even a large number of schools and colleges are present nearby as well.
Transport facilities such as auto rickshaws and buses are available at all times. Rate of residential property in the locality ranges from around ₹2,083 per square foot to ₹5,309 per square foot.
Things to Consider Before Buying a Residential Property in Nadiad
Mentioned below are some points that you might want to keep in mind if you are interested to invest in residential real estate in Nadiad:
- Reputation of Developer
Before purchasing a property, it is of utmost importance to check the reputation of the property, especially if it is an under-construction property. You can check the track record of the builder by visiting their website or checking reviews of the previous clients of the builder.
- RERA Authentication
If you are interested in checking the authenticity of the builder who has constructed the property and the property itself, you can do so by visiting the official RERA Gujarat website. The Real Estate Regulatory Authority (RERA) is a statutory body that regulates real estate projects in every state. If your property is RERA registered that means there is no issue with the property and it is built as per rules and regulations that have been stated in Real Estate Regulatory Authority Act of 2016.
Stamp Duty in Nadiad, Gujarat
Payment of stamp duty while registering property is a crucial part of the registration process as it protects the property from legal hurdles in future. Here is the rate of stamp duty applicable in Nadiad, Gujarat:
|Basic rate of stamp duty||3.5%|
|Surcharge of 40% on basic rate||1.4%|
|Total stamp duty payable on sale of immovable property||4.9%|
Registration Charges in Nadiad, Gujarat
Paying the registration charge in Gujarat is an important step while registering your property to become the legal owner of your property. Rate of registration charge applicable in Nadiad, Gujarat are as follows:
|Female||No registration fee is applicable|
|Joint (Male + Female)||1%|
|Joint (Female + Female)||No registration fee is applicable|
Nadiad Residential Real Estate Sector: What’s the Forecast?
Nadiad has been growing at an unprecedented pace in all types of sectors for the past few decades. As it is close to Ahmedabad, Vadodara and Gandhinagar, Nadiad is acting as a second alternative due to its affordability and job opportunities. If this rapid growth continues, the price of homes and land will slowly but steadily rise.
Cities like Gandhinagar and Ahmedabad will soon experience a lot of fast-paced development as the municipal corporation will synchronise development projects. Villages and towns that fall under the city’s urban development authority will also experience development under this project. Such projects will work wonders for attracting more investment in the residential sector of Nadiad.
Residential Real Estate vs Other Asset Classes
Here is the comparison between residential real estate versus other asset classes:
Residential Real Estate vs Commercial Real Estate
Residential real estate requires less investment money in comparison to commercial real estate. Finding tenants is much easier in case of residential real estate. Residential real estate investments also offer tax benefits if the property is availed on a home loan.
However, if we consider returns, commercial real estate offers much higher returns in comparison to residential real estate.
Residential Real Estate vs Mutual Funds & Stocks
Real estate is a much safer and less volatile asset in comparison to mutual funds and stocks. However, in terms of returns, mutual funds and stocks perform much better. In terms of consistency of returns, real estate is better. Stocks and mutual funds require a minimum amount to start investing; on the other hand, real estate investments require a huge quantum.
Residential Real Estate vs Gold
Real estate gives you an opportunity to earn returns every month which is certainly not possible in case of gold. In terms of size of investment, real estate requires a much higher amount in comparison to gold. Gold is much more liquid in comparison to real estate. However, In terms of risk and volatility, real estate is a better investment option.
Residential Real Estate vs Bonds
Bonds are much less risky in comparison to real estate. However, returns generated from real estate are comparatively much higher. In terms of tax benefits as well real estate is better than bonds.
However, bonds are low-risk investment options that offer stable returns. If you are someone who is interested in investing in an asset that will fetch you 9-11% returns, you can register on our website today. Choose from the top-rated bonds available and invest without having to pay any hidden charges.
Here is the tabular representation of comparison between different asset classes on the basis of returns, liquidity, risk, volatility and ticket size:
|Parameters||Residential Real Estate||Stocks & Mutual Funds||Gold||Commercial Real Estate||Bonds|
Steps to Invest in Residential Real Estate in Nadiad
Mentioned below are the steps that you can follow if you are interested to invest in residential real estate in Nadiad:
Step 1: Fix your investment budget.
Step 2: Prepare a list of all the locations which you find suitable for residential real estate investment.
Step 3: Consult a broker and visit every location that is on your list to confirm whether all the documents are authentic or not.
Step 4: Select a property only after checking whether it adheres to the norms of RERA or not.
Step 5: Contact a lawyer and prepare all the requisite documents for the purchase.
Step 6: Make payment for the property. Complete all other legal formalities like payment of stamp duty and registration charges to legally own the property.
Step 7: Lastly, in order to protect your newly purchased property, you can opt for a property insurance policy to remain prepared for any type of emergency.
Nadiad is standing out among some of the most developing urban areas in Gujarat. This city is slowly and steadily attracting more individuals to migrate here from different corners of the country for employment and entrepreneurial purposes. With its distinct culture and traditions, Nadiad is transforming into an ideal city for everyone who wishes to reside in a friendly environment with good employment opportunities. However, before purchasing a property, make sure it abides by all rules and regulations of RERA.
Frequently Asked Questions
What action can I take in case the builder is delaying possession?
When your builder is delaying possession, you can issue a letter to the builder mentioning the grievances. Before purchasing a property, ensure to take all the assurances given by the builder on a letterhead under seal of the builder. These assurances include the date of offering possession. In case you see that the builder is not willing to give possession within an acceptable time, you can approach CREDAI.
What are the taxes that I need to pay at the time of purchasing a property?
Along with the price of the property, you also need to pay price stamp duty, registration charges, tax deducted at source and any other service tax applicable when you are buying a property.
What things should I check at the time of signing an agreement?
Prior to signing your property purchase agreement, you need to check certain details mentioned in the agreement mandatorily. They are base price, carpet area, additional charges like club membership and PLC, payment mode, taxes applicable, schedule of possession, penalty clauses in case of project delay, etc.
What are the different types of commercial properties?
The different types of commercial properties that you can invest in are warehouses, retail spaces, restaurants, hotels, shared workspaces, etc.