- Ahmedabad, capital of Gujarat- Touted as Indias most vibrant state is also witnessing a robust realty sector.
- Prime residential areas in Ahmedabad involve- Shahibaug (North); Satellite, Bodakdev, Vastrapur & Thaltej (West Asia); Maninagar, Kankaria, Chandola (South East Asia).
- The boom in the Ahmedabads realty sector is in tandem with the overall economic & industrial boom in the state, which is translating into rise in employment & demand for residential units.
- The large expatriate diaspora of Gujarat also plays an instrumental role in driving the realty market of the capital city. Besides NRI, investor from NCR & Mumbai also actively look up to Ahmedabad.
- Ahmedabad & neighboring Gandhi Nagar have also successfully established themselves as IT/ ITES & retail destination.
- Property prices have appreciated in Ahmedabad at a rate of 10-15% in the recent past.
- The approval of Ahmedabad Metro Phase I that will cover APMC to Motera and Thaltej to Vastram Gram is expected to give higher ROIs in the regions.
- Availability of vacant land near the Thaltej station is attracting developments of new residential projects around it.
- The upcoming Gujarat International Finance Tech-City (GIFTC) near Ahmedabad, which is expected to generate roughly 2 million jobs will give a big boost to the Ahmedabad & Gandhinagars real estate market.
Image Source: Goyal