Local real estate developers to gain an edge in the local market

It has been seen through the medium of extensive reports that the larger real estate developers were relatively unsuccessful in tapping over the tier-II and III markets in Gujarat whereas the local developers are doing great business in such markets especially in cities like Surat, Ahmadabad and Vadodara. These local developers have been doing as much as possible to have an edge over their national counterparts such as increasing more transparency and enhancing product portfolio. According to an Ahmedabad based real estate developer, Mr. Suresh Patel, Director, Surya Group the economic slowdown has comparatively insulated the local developers more than the large developers and helped them to expand in the tier-II and III cities of Gujarat. He also added that with the increase f professionalism in the city, they are able to expand in other cities within and outside the state. It is also a belief that local developers have an edge over the national and much larger counterparts when it comes to understanding the geographies of the local area and need of the local people. Also there has been much diversity in these areas which has led to the success of the local developers. Gujarat is comparatively versatile than other industrial states, hence the slowdown in one particular sector doesn’t lessens the demand for residential or commercial properties in the city.