Allahabad or Dholera - Which Shall be a Better Investment Zone

While smart cities have been chosen, the investors are wondering which one of these cities under the smart city project shall be a more profitable choice and generate higher returns on investments.

As per experts, Dholera in Gujarat, the first smart city of India shall also be the fastest developing city under the smart city project due to various factors.

The pace of development along with it being a project envisaged by Mr. Modi more than 5 years ago makes it a special city. The city is also being excellently planned and is expected to be twice the size of Mumbai and six times the size of Shanghai. It shall draw its inspiration from Shanghai as per Modi’s vision and the development work for the same shall be assigned to world class architects. Halcrow has been assigned as the master planner for the city while the technology giants IBM and Cisco have been appointed for its development. No compromise is being made to make this dream project a living reality.

Allahabad is yet another smart city in the making. It is better known as Prayag and belongs to the state of Uttar Pradesh. A host to 1.11 million residents, the city is the second oldest city in India and holds much religious importance

In this article let us see why it is better to park funds in Dholera instead of investing in the famous city of Allahabad.

Dholera is at an initial stage of development of the smart city project. The cost of land is thus very cheap. It can be easily said that the cost of 2 BHK apartments in Allahabad shall fetch a luxury bungalow on a residential plot in Dholera. This makes a very interesting and lucrative investment proposition for both retail citizens and manufacturing units. They can buy lands at negligible prices in Dholera as compared to Allahabad and establish big bungalows or huge commercial set up on it.

The rates of such land shall also accelerate at a much higher rate in Dholera than in Allahabad. This can be derived from a three step logical reasoning:-

• Dholera is one amongst the seven nodes on DMIC corridor. This is an edge that it shall continue to enjoy over Allahabad and thus attract both multinationals and retail foreign investments.
• More than 400 MoU’s have been signed by various companies including Adani Group, Nano Developers Pvt Ltd. and Mahindra Lifespace for investing in Dholera. This shall give impetus to the region accelerating the price value of land.
• The pace of development of Dholera is much faster than Allahabad which shall result in the investment value soaring up soon. This is because the project of Dholera has entered a development phase while that of Allahabad is yet at planning stage. Dholera SIR has also received Rs. 3,000 crore as funds from government while Allahabad shall only be sanctioned Rs. 100 crore per year for development. This shall create noticeable difference in development speed.

Many factors are collectively working towards Dholera essentially making it a better investment zone than Allahabad for investment under the smart city project.

Marty Ron is a freelance writer, technical writer, and editor of a leading magazine. He writes for many online E-commerce websites. He also has been writing blogs on various forums.