Guwahati, the bustling city nestled in the northeastern part of India, is rapidly emerging as a lucrative market for real estate. The recent ‘Realty Summit’ organised by the Assam Real Estate and Infrastructure Developers’ Association (AREIDA) highlighted the city’s potential, attracting builders, experts, and investors from across India and abroad. Here’s why Guwahati is poised to become a hotspot for realtors and investors alike.
Socio-Economic Growth and Stability
One of the most significant factors driving the real estate market in Guwahati is the city’s fast-paced socio-economic growth. The region has experienced a notable improvement in overall security and stability, paving the way for development and attracting businesses. This newfound stability has instilled confidence among investors, making Guwahati a prime location for real estate investments.
Smart City Initiatives
Guwahati’s inclusion in the 100 smart cities initiative by the Indian government is a game-changer. The city is set to receive a range of modern facilities, comparable to those in major metropolitan areas. The development of smart infrastructure, coupled with advanced urban planning, is expected to boost the real estate sector significantly.
Educational and Healthcare Institutions
The establishment of prestigious institutions such as the Indian Institute of Technology (IIT), Guwahati Medical College (GMC), All India Institute of Medical Sciences (AIIMS), and the upcoming Indian Institute of Management (IIM) is another driving force behind the real estate boom. These institutions attract students, faculty, and professionals from across the country, leading to increased demand for residential and commercial properties.
Natural Beauty and Tourism
Guwahati is blessed with beautiful landscapes, temples, and national parks, making it a desirable place to live. The city serves as a gateway to numerous tourist hotspots in Northeast India, which in turn boosts the local economy. The increase in tourism, coupled with better connectivity, is expected to enhance the demand for real estate in the region.
Improved Connectivity
The northeastern region is set to witness a significant transformation in connectivity with the development of a 3,246 km road network connecting Myanmar and other Southeast Asian countries. This project is expected to enhance trade and tourism, further bolstering the real estate market.
Additionally, Prime Minister Narendra Modi has announced a Rs. 28,000 crore project to lay new railway lines, improving access to various tourist destinations. This improved connectivity will undoubtedly make Guwahati an attractive investment destination.
Also, to alleviate traffic congestion and support the growth of the Guwahati Metropolitan Area, the Government of Assam has initiated an ambitious plan to enhance the city’s transport infrastructure. As part of this, the construction of two bridges across the Brahmaputra River—one at Panbazar connecting North Guwahati and another at Palashbari connecting Sualkuchi—has already started with an initial allocation of INR 100 crore.
Agricultural and Industrial Development
The government’s focus on setting up food processing units and promoting organic farming is set to revolutionise the agricultural sector in the region. With a fund of Rs. 16,840 crore dedicated to horticulture, farmers are encouraged to grow crops, boosting the local economy. The establishment of six new agriculture colleges will further promote organic farming, positioning the region as an organic capital. This agricultural boom is likely to increase the demand for both residential and commercial properties.
Also, Chief Minister Himanta Biswa Sarma has announced a substantial package of Rs 800 crore to support road construction across Assam’s tea gardens. This initiative focuses on improving infrastructure within these areas. Each tea garden in the state will receive a grant of Rs 1 crore for road construction, significantly enhancing accessibility and connectivity in the tea garden regions.
Expansion of Lokpriya Gopinath Bordoloi International Airport
The expansion of Lokpriya Gopinath Bordoloi International Airport is a significant development that will cater to the growing air traffic in the region. The New Integrated Terminal Building (NITB), currently under construction, is set to be completed by mid-2025. Spanning over 1.5 million square feet, the terminal will have the capacity to accommodate 13.1 million passengers annually. It is designed to manage higher passenger and aircraft volumes, enhance the passenger experience, and improve operational efficiency for our airline customers. This expansion will make Guwahati a more accessible and attractive destination for business and leisure.
Power and Digital Connectivity
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the implementation of a Comprehensive Telecom Development Plan for the North-Eastern Region (NER). The plan involves an estimated expenditure of Rs. 5,336.18 crore, inclusive of all applicable taxes except octroi and local taxes, funded by the Universal Service Obligation Fund (USOF). The USOF will cover both Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) net of revenue for a period of five years.
This project aims to enhance the reliability of connectivity for District and State Headquarters by providing alternative optical fibre routes. This redundancy will ensure continuous voice and data transfer, even if one route encounters issues.
The plan targets coverage for the currently uncovered villages in the North-Eastern Region and aims to ensure seamless connectivity along national highways. Of the 43,200 villages in the region, 9,190 (21 percent) lack mobile network connectivity. This project will extend coverage to 8,621 of these unconnected villages (20 percent) through the installation of 6,673 towers. Additionally, 321 mobile towers will be installed to provide uninterrupted connectivity along national highways.
Conclusion
With its fast-paced socio-economic growth, smart city initiatives, prestigious educational institutions, improved connectivity, and agricultural and industrial development, Guwahati is on the brink of a real estate boom. The city’s strategic location, coupled with government initiatives, makes it an attractive destination for realtors and investors. As Guwahati continues to evolve, the potential for real estate in this vibrant city is immense, promising lucrative opportunities for those willing to invest in its future.
