The recent ethnic conflict that has plagued Manipur for the past few months is having an unexpected impact on the real estate market in Guwahati, the economic hub of Assam. Instead of seeking refuge in neighboring states, many individuals from Manipur are now opting to purchase ready-to-move houses in Guwahati. This surge in demand has come as a surprise to real estate promoters in the city, who have witnessed a rush of buyers from Manipur since July of this year.
One anonymous real estate promoter explained, “While the COVID-19 period had adversely affected the real estate market in Guwahati, the violence in Manipur sparked a significant increase in demand from people in Manipur seeking flats in our city.” This surge in demand has breathed new life into the real estate market in Guwahati, which was previously experiencing a slowdown due to the pandemic.
The ethnic violence in Manipur, which erupted on May 3, resulted from a tribal solidarity rally that escalated into violent clashes between the Chin-Kuki-Zo and the Meitei communities. The ongoing strife has claimed the lives of 175 people, with over a thousand injured and 32 individuals reported missing. Amidst this turmoil, people from both the Meitei and Kuki communities in Manipur are approaching real estate builders in Guwahati en masse, particularly for three-bedroom flats in smaller projects.
Interestingly, these buyers are keen on purchasing flats in groups, with the intention of staying together. The demand for three-bedroom flats in Guwahati ranges from Rs 75 lakh to 90 lakhs, depending on the location. Many individuals from Manipur have expressed their frustrations with the lack of opportunities and the constant threats posed by militant and overground organizations in their home state. Thus, they see moving to Guwahati as a safer and more promising alternative.
1. Why are people from Manipur buying real estate in Guwahati?
The ethnic conflict and ongoing violence in Manipur have led many individuals from the state to seek safer and more promising opportunities in Guwahati. They see moving to Guwahati as a way to escape the instability and uncertainty faced in Manipur.
2. What is the impact of the ethnic strife in Manipur on the real estate market in Guwahati?
Contrary to expectations, the real estate market in Guwahati is experiencing a surge in demand as people from Manipur are purchasing ready-to-move houses in the city. This has revitalized the market, which had previously been affected by the COVID-19 pandemic.
3. What is the price range for three-bedroom flats in Guwahati?
The price range for three-bedroom flats in Guwahati varies from Rs 75 lakh to 90 lakhs, depending on the location.
Sources: Manipur Ethnic Strife Fuels Demand for Houses in Assam’s Guwahati