Govindji Group
- 2 Projects
Surat
The Surat North real estate market presents a dynamic landscape where property values are steadily climbing, currently anchored by an average rate of ₹4,800 per sq ft. Residential demand remains strong, particularly in established hubs like Vesu, while emerging areas like Palanpur and Jahangir Pura are seeing significant positive price growth. The rental market is particularly active, offering investors high yields and a variety of housing options ranging from compact 2 BHK units to expansive 6 BHK residences. Development activity is well-distributed, with a healthy mix of ready-to-move and mid-stage projects ensuring that buyers have multiple options for immediate or future occupancy.
As of June 2026, the average asking price in Surat North is ₹4,800 per sq ft. This figure reflects a market appreciation of 1.44% compared to previous reporting periods. This steady pricing indicates a resilient residential market, supported by a listing volume of 611 properties, which provides sufficient options for prospective buyers looking to enter this micromarket.
Property prices in Surat North have shown a fluctuating trajectory, with the average micromarket rate recorded at ₹4,800 per sq ft in March 2026, up from ₹4,700 per sq ft in December 2025. This follows a notable peak of ₹5,650 per sq ft in September 2025. Investors should note that while prices experienced a correction after the September 2025 high, the recent quarter-over-quarter growth suggests a stabilization of demand in the region.
Property rates vary significantly across the neighbourhoods of Surat North, reflecting diverse market demand. As of June 2026, Vesu commands the highest average asking price at ₹5,400 per sq ft, despite a depreciation of 1.49% compared to the prior period. Conversely, Palanpur and Jahangir Pura have seen strong growth, with rates at ₹4,000 per sq ft (up 7.03%) and ₹3,700 per sq ft (up 7.49%) respectively. Amroli remains the most affordable option at ₹1,950 per sq ft, though it has experienced a significant depreciation of 23.1% over the same timeframe.
As of June 2026, Ready To Move projects in Surat North are priced at an average of ₹4,450 per sq ft, reflecting a depreciation of 9.68% compared to the previous period. In contrast, Under Construction projects are currently priced at ₹3,500 per sq ft, showing a strong appreciation of 7.75% over the same period. This price gap suggests that buyers seeking immediate possession are currently benefiting from a market correction in the ready-to-move segment, while under-construction inventory is seeing increased valuation as projects progress.
Shops currently command the highest average price in Surat North at ₹16,700 per sq ft, having appreciated by 30.25% compared to the previous period. Office spaces follow at ₹6,500 per sq ft with a 6.04% appreciation. Residential apartments are priced at ₹4,800 per sq ft (up 1.44%), while villas have seen a significant depreciation of 51.45%, bringing their average price to ₹4,150 per sq ft as of June 2026. This data indicates that commercial real estate is currently driving higher valuation growth compared to the residential villa segment.
The average rental yield in Surat North stands at 11.25% as of June 2026, which is a strong indicator of high income potential relative to the capital investment. The average rental rate is ₹45 per sq ft, reflecting a significant appreciation of 104.55% compared to the previous period. For investors, this high yield suggests that the area is increasingly attractive for rental income, likely driven by a surge in demand for leasable space.
Rental rates in Surat North vary by unit size, catering to a wide range of tenant profiles. As of June 2026, a 2 BHK apartment averages ₹26,000 per month, while a 3 BHK unit averages ₹43,250 per month. Larger configurations command higher premiums, with 4 BHK units averaging ₹89,300 per month and 6 BHK units reaching ₹3 Lakh per month. These figures demonstrate a clear price ladder, allowing tenants and investors to align their budgets and expectations with the specific space requirements of the market.
Several projects in the Vesu locality dominate the premium segment of Surat North as of June 2026. Sangini Evoq leads with a listing rate of ₹7,050 per sq ft (up 0.01%), followed by Rajhans Eronzza, Happy Home Celebrity Greens, Sangini Vedanta, and Rajhans Cremona, all priced at ₹7,000 per sq ft. Notably, Sangini Vedanta has seen a 5.89% appreciation, while other projects like Rajhans Eronzza and Rajhans Cremona have maintained stable pricing, indicating consistent demand for high-end residential developments in Vesu.
As of June 2026, both shops and office spaces in Surat North command an average rental rate of ₹50 per sq ft. However, their market trends differ significantly: shop rentals have experienced a depreciation of 10.67%, whereas office space rentals have appreciated by 6.67% compared to the previous period. This divergence suggests that while both asset classes are currently priced similarly, the office segment is seeing more positive momentum, potentially signaling a shift in business demand within the micromarket.
