For the recent rise in real estate price in Jamnagar, many are attributing the NRI factor, NRI Gujaratis and locals are diverting their money to real estate.
Jamnagar's banking data shows a decline in deposit since last one year, and continuous rise in real estate prices, indicating that money is being moved real estate.
NRG income which contributed to move in real estate pushes Jamnagar developers to create new high class amenity complex in Jamnagar, although due to global recession income from NRI Gujarati has fallen recently. NRI Remittance in the bank is mostly diverted to housing deals.
Jamnagar citizens now fancy big houses and are moving from traditional town places to more open places like air force / Khambhaliya road, near dared and dhuvav.
Prices in costly area like Valkeshwari, Patel Colony, Panchvati are sky rocketing, in some places construction prices are reaching around 3000-3500 Rs. psf.
Air force / Khambhaliya road price are in the range of 1000-2000 Rs. Psf, this high range is depending on building and builder's reputation.