Guwahati In Focus: Tapping Northeast For Future Growth

During his Northeast visit in August this year, Prime Minister Narendra Modi said that developing the region's infrastructure was his government's top priority. "India will develop only if the northeast develops," media reports quoted the prime minister as saying. The current government's focus on making this a reality is visible by some of the announcements it has made for the region. These include:

• Announcement to create an economic corridor among India, Myanmar and Southeast Asian countries which is likely to have a huge positive impact on the region's development. 

• Approval for a fund of Rs 28,000 crore for laying new railway lines in NE states to establish the areas as a tourist hotspot. 

• Approval for the setting up of food processing units in the region at a cost of Rs 16,840 crore. This project is to improve the shelf life of horticulture products from the region. 

• Approval for construction of airport hangars at the Lokpriya Gopinath Bordoloi International Airport, Guwahati. This is envisaged to meet the airport's increased demands of growing air traffic in the region. 

• Approval for the implementation of “the Comprehensive Telecom Development Plan” for the region, with a planned expenditure of Rs 5,336.18 crore. This is to give increased reliability in 2G connectivity, by providing optical fibre networks. 

• Approval to North Eastern Region Power System Improvement Project for strengthening of the Intra-State Transmission and Distribution System at an estimated cost of Rs 5,111 crore. 

• To boost organic farming in the region, six new agriculture colleges will be set up, with an aim to make the region the capital of organic farming.

When implemented, these steps may revolutionise the entire region's infrastructure. As job opportunities increase in region, demand for housing and environment-friendly housing projects would rise, too.

Destination Guwahati

Being the gateway of all northeastern states and a strong commercial base, Guwahati offers huge job and investment opportunities. The development of industrial sector in the city is attracting more and more professionals here each year, looking for residential and commercial accommodations. As land supply is limited, the city is fast adopting to apartment building. With national-level institutions and colleges such as Indian Institute of Technology, Guwahati Medical College and Hospital, Guwahati University, Asian Institute of Management & Technology, Cotton College, Handique Girls College, Faculty Higher Secondary School, there is a huge influx of students to this city every year. Being the educational hub, students from entire northeast as well as across India come to this city, resulting in higher demand for rental accommodations.

A paradise for wildlife lovers, there are great places in and around Guwahati to explore such as the Kaziranga National Park, Pobitora Wildlife Sanctuary, Chakrashila wildlife sanctuary, Assam State Zoo, Chandubi Lake, Brahmaputra River Cruise. Other major tourist destinations of Guwahati are as Kamakhya temple, as Kamakhya temple, Temples of Hajo, Regional Science Centre, Shrimanta Shankardeva Kalakshetra, Basistha Ashram Temple, Guwahati Planetarium, Ugra Tara Temple, Madan Kamdev Temple, Navagraha Temple, Cafe Hendrix. A favourite destination for tourists across India and aborad, Guwahati hosts huge number of people every year. The Ambubachi Mela, better known as fertility fest, also attracts devotees come from far off places of India and abroad. Annual inundation of huge number of tourists creates a high demand for budget and luxurious hotel and lodge accommodation in the city.

Witnessing the huge demand for housing and affordable hotel accommodations in the city, many realtors across India and abroad showed their interest to invest in this untapped market. There is a requirement of world-class realtors in this area, as present level of urban infrastructure is inadequate to meet the demands of the existing urban population. Sustainable, environment-friendly and affordable homes are a prime requirement for a city like Guwahati.

Taking all these accounts into consideration, Guwahati is a promising investment opportunity for the realtors as well as home buyers.