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Dholera Smart City is PM Modi’s dream project. It was conceptualized in the late 2000s and officially announced in May 2009. At the time, Dholera was nothing but a vast, barren piece of empty land with no visible infrastructure. Many people questioned whether the project would ever take shape.
However, a small group of investors believed in its long-term vision and invested early. Fast forward to 2025, where some of the major public infrastructure, like the Dholera International Airport, the Ahmedabad Dholera Expressway, and the city administration building, is nearing completion.
People who invested in the early phases, especially before 2017, have already seen a 5- to 7-fold appreciation in the Dholera smart city plot price. As India’s first Greenfield Smart City, the opportunities and potential here are still unfolding.
Dholera Smart City’s Appreciation Phases So Far
Phase 1 Appreciation: The Foundation Years (2017-2021)
In 2010, Dholera smart city plot prices started at as low as ₹1000-1500 per square yard. By 2017, prices in the Activation Area rose to nearly ₹2500-3000 per square yard.
The government initiated land pooling of plots already owned by individuals to build large public infrastructure facilities in the Dholera activation area. With the completion of land pooling and approval of the Dholera Town Planning Scheme, Dholera experienced its first wave of appreciation. Even at this early stage when development was still largely on paper and visible infrastructure was minimal land prices saw an appreciation of nearly 50%, driven purely by project approvals, planning clarity, and strong government backing.
Phase 2 Appreciation: Announcements to Reality (2022-2024)
In 2022, a lot of the infrastructure plans started to actualize. Over the next 2 years, some landmark developments took place:
- Construction of the Ahmedabad-Dholera Expressway began
- The foundation of the ABCD Building was laid
- TATA Group announced India’s first semiconductor manufacturing plant
- Dholera Airport Project was approved
As a result, prices doubled for the same piece of land in the prime areas of Dholera SIR by the end of 2024. This leap happened when planning turned to on-ground construction. The earliest appraisal was seen in verified plots, particularly for investors who entered at the right time with expert guidance. BookMyAssets continues to be Dholera’s trusted real estate consultant.
Phase 3 Appreciation: Commitment Meets Completion (2024-2025)
Years of commitment saw the first phases of completion in 2024. Several major infrastructure projects neared completion, including
- The Ahmedabad–Dholera Expressway reached 98% completion, with inauguration in early 2026
- Dholera International Airport’s Runway 1 is functional, with Runway 2 nearing completion
- Tata’s solar power plant’s partial operations began
- Tenders for public amenities such as schools, hospitals, and hotels have been released
- Intel and Tata partnered for India’s first TATA semiconductor fab facility, which is under construction and will begin operations in 2026
With infrastructure nearing readiness, land values in prime pockets of Dholera witnessed sharp appreciation. Plots in the city center, near the Dholera SIR boundary, near the airport, and near the expressway are now selling at Rs.6000 to 15000 per square yard, up from the initial Rs.1000-1500. With such high returns, investors entering at this stage are expected to see 3X to 5X returns in just the next 5 to 7 years. And who better than BookMyAssets to spot these high-yield verified plots for you?
Want to discover how Dholera Smart City’s growth story-from Phase 1 to Full Smart City Vision
The Appreciation Formula Cracked: Infrastructure Completion = Price Jumps
Through years of market observation, a clear pattern has emerged. The observation indicated that maximum appreciation in land prices was seen 6-12 months after major completions. Contrary to the common belief that prices spike post infrastructure project announcements, the observations revealed that the real spike happened on project completion. Proven examples include land price appreciation following the expressway’s completion and a sharp rise in demand after the ABCD Building became operational.
This pattern has thus helped predict the next major appreciation cycle. Significant spikes are expected once Dholera International Airport becomes operational in 2026 and semiconductor manufacturing starts in 2026–27. Hence, the period leading up to 2026 is a good time to invest in Dholera Smart City's progress to catch the next price surge.
What This Means for Today's Buyers
As of December 2025, nearly 70% of Dholera’s core infrastructure is complete. The last leg of completion is in progress, and the production phase is will begin soon. The silver lining is the opportunity to enter before semiconductor jobs and airport operations drive a residential and commercial demand explosion.
Like early 2017 buyers who made 3X to 5X returns in just 5 to 7 years, buyers who invest today will benefit from the 2026-2030 Dholera plot price appreciation cycle backed by large-scale infrastructure growth and economic activity.
Summary
So, the best way to anticipate the next appreciation in any developing real estate system is to track the region’s infrastructure project completion timelines. Like major completions of the airport and ABCD Building showed land appreciation in Dholera city center, the surrounding areas are expected to see a surge in the next 5 years, with even bigger projects nearing completion.
So, which locations offer the best Dholera SIR plot appreciation potential today? To spot the right plot investment in Dholera SIR for you, book a consultation with BookMyAssets. BookMyAssets provides end-to-end guidance in real estate investment, right from identification and verification to final ownership and even reselling. So, contact BookMyAssets and take your first step towards Dholera investments with confidence.
