Micro-market Analysis of Ahmedabad

 

  • Ahmedabad,  capital of Gujarat- Touted as India’s 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 Ahmedabad’s 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.

Growth Factors 

  • 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 & Gandhinagar’s real estate market.

Image Source: Goyal