“Real Estate in Mota Varacchha is at boom due to Diamond Bourse shifting to Surat.”
Surat. About 70 diamond companies from Mumbai have shifted to Surat during this coronavirus pandemic. The Surat diamond bourse will be ready by the year 2022 and till then most of the Diamond companies will shift to Surat from Mumbai. This will change the position of the city across the world. Even during this time of financial crisis across the world, Surat is standing still and the people especially those in the diamond industry are progressing even though, taking tiny steps. Once the Diamond bourse of Surat is ready and the Diamond businesses shift totally to Surat then the city is going to progress by leaps and bounds. This is giving new hopes to the real estate industry in the city which is facing various issues as of now. Right now 8 out of 10 diamonds are manufactured in Surat but all of the dealings and exports happen only from Mumbai. Moreover the corporate offices of most of the Diamond companies are in Mumbai’s Bandra Kurla Complex and small units are set up in Borivali, Malad, Goregaon, Dahisar etc. and all the operations happen from there. But things are fast changing and all of these big Diamond units and offices are being shifted to Surat.
Surat’s Real Estate Companies are ready to give the infrastructure to the migrants like that of Mumbai.
With the shifting of diamond companies from Mumbai to Surat the real estate industry of the city is ready to cater to the needs of the company owners as well as office staff and workers who are going to shift to the city. The situation is such that some Housing projects similar to that in Mumbai have started in the city. A builder named Jayantibhai Madhubhai Godani who is the owner of Victoria group said, “Due to the shifting of diamond industry from Mumbai to Surat we have already started receiving enquiries for shop and flats. These enquiries are mainly for areas such as Varachha, Mota Varachha, Uttaran and Sarthana Jakatnaka.