However, while real estate prices in Gujarat have been on the rise, the market is not without its challenges. Increasingly stringent regulations have been introduced in recent years to curb unethical practices in the industry, which has had an impact on the pace of development. The introduction of the Goods and Services Tax (GST) and the Real Estate Regulatory Authority (RERA) have led to an increase in the cost of construction and have made it more difficult for smaller developers to keep pace with larger development firms.
While there is no denying that the real estate market in Gujarat has been growing and expanding over the last decade, there are numerous challenges that will need to be addressed if this pace of development is to continue. Developers will need to keep up with ever-increasing demand, while also navigating the complex regulatory environment. However, with the state’s economy continuing to grow and with demand for housing growing ever-stronger, there is every reason to be optimistic about the future of the Gujarat real estate market.