Earlier it was difficult to find realtors with principles, but today, almost 80% of them work by the ethics.
After three decades of building houses and developing infrastructure in Ahmedabad, Dinesh Patel, newly elected president of Confederation of Real Estate Developers Association of India (Credai) Gujarat chapter sees the city growing horizontally in coming years.
Patel is also managing director of Deep Builders and developed prominent residential schemes like the Indraprastha. He believes that Anil Bakeri and HK Kashyap, veterans in real estate industry, have taught ethics in this business.
"Earlier it was difficult to find realtors with principles, but today, almost 80% of them work by the ethics," said Patel.
Deep Builders was formed in 1980 with friends and brothers. "After graduating in Civil Engineering from LD Engineering College, I, along with my brothers and friends, formed the company. In last 31 years, we have seen rapid development in this city," he reminisces.
The company started with government contracts for developing infrastructure such as roads in the city.
"We came up with first residential scheme, Maurya Duplex near Shreyas crossing in 1986. At that time, we bought the land for Rs4 lakh at Rs800 per square yard," he said.
In last two and a half decades, realty prices have shot up by 100 times. "We have built more than 3,000 houses in the last 26 years. After a 100-fold growth in realty prices, land sells in Ahmedabad at Rs80,000 a square yard," added Patel.
Though Ahmedabad has grown by leaps and bounds, one can reach from one place to another in a matter of 15 minutes, believes Patel.
"The biggest change we have seen here in last three decades is that the city has expanded without compromising the law and order situation," he said.
Earlier, Ahmedabad grew only westwards, from Ashram Road to CG road and further onto to SG Highway. Recently, state government has come up with town planning for eastern areas as well.
"Rates have always remained high in the western suburbs of the city. Even Sardar Patel Ring road is developing now. However, eastern sides are also growing now," said Patel.
Speaking on the Amdavadi lifestyle in coming years, Patel said that everyone is moving towards a comfort zone.
"With technological advancements, people will start buying houses in suburban areas from where connectivity to main city will be faster. People will have a better and comfortable lifestyle at lower prices in coming years," said Patel.
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