Govindji Group
- 2 Projects
Surat
Surat North presents a dynamic real estate landscape characterized by a blend of established residential options and emerging commercial opportunities. Property values have seen fluctuations over the past year, currently stabilizing at an average of ₹4,800 per sq ft. The rental market is particularly active, driven by high demand for apartments ranging from 2 BHK to 6 BHK units. Furthermore, the supply pipeline remains robust, with a mix of ready-to-move and new launch projects catering to varied possession timelines.
As of March 2026, the average asking price in Surat North is ₹4,800 per sq ft. This figure reflects a modest appreciation of 1.44% compared to the previous period, indicating a stable and resilient market demand for residential apartments in this region.
Property prices in Surat North have shown a fluctuating trajectory, with the average asking price moving from ₹5,400 per sq ft in June 2025 to ₹5,650 per sq ft in September 2025, followed by a correction to ₹4,700 per sq ft in December 2025 and a recovery to ₹4,800 per sq ft as of March 2026. This recent upward movement from December 2025 to March 2026 suggests that buyer interest is stabilizing after the previous quarter's volatility.
Property rates across neighbourhoods in Surat North show significant variation, ranging from premium pockets to more affordable areas. As of March 2026, Vesu commands an average asking price of ₹5,400 per sq ft, which has seen a minor depreciation of 1.49% compared to the prior period. In contrast, Palanpur and Jahangir Pura have seen strong growth, with average asking prices of ₹4,000 per sq ft (up 7.03%) and ₹3,700 per sq ft (up 7.49%) respectively, while Amroli is currently at ₹1,950 per sq ft, reflecting a 23.1% depreciation over the same timeframe.
As of March 2026, commercial and residential assets in Surat North show diverse pricing. Shops are currently priced at ₹16,700 per sq ft, having appreciated by 30.25% compared to the previous period, while office spaces are at ₹6,500 per sq ft, reflecting a 6.04% appreciation. Apartments, the most common residential asset, are priced at ₹4,800 per sq ft, showing a 1.44% appreciation, whereas villas are priced at ₹4,150 per sq ft, which represents a 51.45% depreciation compared to the prior period.
As of March 2026, there is a distinct pricing gap based on project status in Surat North. Ready-to-move projects are priced at ₹4,450 per sq ft, having depreciated by 9.68% compared to the previous period, while under-construction projects are priced at ₹3,500 per sq ft, which has appreciated by 7.75% over the same timeframe. This suggests that buyers are increasingly finding value in newer, under-construction inventory, while the ready-to-move segment has undergone a market correction.
As of March 2026, the average rental rate in Surat North stands at ₹45 per sq ft, which has seen a significant appreciation of 104.55% compared to the previous period. The area currently offers a rental yield of 11.25%, a strong indicator for investors looking for income-generating assets, as this yield suggests that rental income is keeping pace with or exceeding capital value growth in the current market.
Rental rates in Surat North vary significantly by unit size as of March 2026. A 2 BHK apartment typically rents for ₹26,000 per month, while a 3 BHK unit averages ₹43,250 per month. For larger configurations, 4 BHK apartments command an average of ₹89,300 per month, and 6 BHK units reach up to ₹3 Lakh per month. This tiered pricing allows tenants to choose based on their space requirements and budget, while landlords can leverage the high demand for larger configurations to maximize rental income.
As of March 2026, several projects in the Vesu locality are leading the market in terms of listing rates. Sangini Evoq is currently priced at ₹7,050 per sq ft, reflecting a 0.01% appreciation, while projects like Rajhans Eronzza, Happy Home Celebrity Greens, and Rajhans Cremona are all listed at ₹7,000 per sq ft with stable pricing. These projects represent the premium segment of the Surat North market, consistently maintaining high price points due to their location and amenities.
An investor should view the 11.25% rental yield in Surat North as a strong signal of high income potential relative to the capital invested. When combined with the 1.44% appreciation in apartment prices seen as of March 2026, the market presents a balanced opportunity for both capital appreciation and consistent rental returns. Investors should specifically monitor the performance of under-construction projects, which have appreciated by 7.75% from the previous period, as these may offer better entry price points compared to ready-to-move inventory.
As of March 2026, rental rates for commercial properties in Surat North show varied performance. Both shops and office spaces are currently commanding an average rental rate of ₹50 per sq ft. While office space rentals have appreciated by 6.67% compared to the previous period, shop rentals have seen a depreciation of 10.67% over the same timeframe, indicating a shift in demand dynamics within the commercial leasing sector.
