Mukesh Ambani's dream to build a petroleum refining SEZ at Jamnagar has led to the skyrocketting of Real Estate prices in Jamnagar.Reliance Retail is also building a shopping malls with multiplex. Pantaloon Retail India, Niho Constructions and Crystal have lined up their shopping mall projects. Reliance is also building a highway supermall just opposite to the existing refinery complex.
Despite Gujarat earthquake, Jamnagar has witnessed constructon of high rise buildings. Reliance has also built a township for its employees 'Reliance Green'. However, other who cannot be accomodated in Reliance Green have to shed out higher rentals. Rentals in Jamnagar are comparable to South Bangalore. A 2 BHK flat costs somewhere between Rs 8,000 to Rs 10,000 / month while a 3 BHK apartment rents out between Rs 12,000 and Rs 15,000.
DLF, Parsvnath and Rahejas are on lookout for land to establish their townships but have had little luck till now with Mukesh Ambani's group buying ever piece of land on sale.
Tags: Reliance SEZ, Jamnagar Real Estate, India Real Estate, Real Estate Bubble
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