Gujarat has slowly moved as becoming as one of the most developed states of India. All the various cities of this state have got great makeovers over the last few years. The city of Vadodara isn’t lagging behind either. Housing is the basic amenity that’s needed by the people of any city. So, the Vadodara Housing Authority was built with the goal of providing the people with better facilities and they can lead peaceful lives in the city. This housing authority has an indirect impact on the development of the city. The various responsibilities of the VHA are building residential projects for the common people, developing the infrastructure of the city, providing all the basic civic amenities like power and water supply, sewage and waste disposal etc, construction of schools and hospitals, playing areas. Besides the residential and the social building projects, they’ve also taken up various commercial projects like construction of shopping malls, business areas, economic zones etc. Along with the Vadodara Municipal Corporation, they’re doing a praiseworthy job.
The sudden growth in the real estate market in Vadodara has seen an impact on the demand and prices of the properties in this city. They’ve been slowly but steadily climbing high up the ladders. With the city getting so developed day after day, people are ready to stay or invest money in the city. This is a huge achievement on the part of the Vadodara Housing Authority who is working really hard to elevate this city to global standards. The city has seen the growth of several housing companies as the city is in huge demand regarding both residential and commercial properties. The VHA employs the contractors or housing companies to get their job done. They may also sell a part of land to these companies to set up the projects by them. Even the outskirts of the city which were once abandoned and desolate, have now been converted into plush residential or commercial areas. As the prices of the projects have gone sky-high, common men find buying a property on their own quite difficult. Thus the housing companies have come with house loan schemes at small rates of interest. The entire set of rules and regulations regarding the house loans and procurement of houses have been monitored by the VHA.
Besides buying the houses in the city, the rented houses are also in huge demand. Not only in residential prospect, they’re also put on rent to some IT-companies or for some other official purposes. The Vadodara Housing Authority has signed several MOU-s with a number of housing companies who have been entitled with the duty of constructing these houses. Different types of houses like apartments, flats, duplexes, condominiums etc are also put on rent besides being bought by many. Thus, people who are still short on money even after the loan facilities find this as a big help for them and can live in a house of their own choice. A special note to be mentioned here is that the cost of the properties in the city is still within the reach of many. But once the proposed special economic zone (SEZ) consisting of an area of 550 acres in the city is completed; the prices of the properties of all the various properties will shoot up. Thus, it’s better to acquire some property at this moment.