Ahmedabad
The Ashram road real estate market presents a blend of commercial growth and residential adjustments, reflecting its status as a key business corridor in Ahmedabad. While office spaces have seen a robust appreciation of 13.37%, residential apartments have experienced a price correction of -6.21%, creating a diverse landscape for different types of investors. Rental activity remains particularly strong, with an average yield of 9.77% driven by high demand for professional workspaces along the road. The market continues to evolve as property values recalibrate following recent quarterly shifts.
As of Jun 2026, the average asking price in Ashram Road is ₹7,250 per sq ft. This figure reflects a market depreciation of 0.52% compared to previous periods, indicating a period of price adjustment in the local commercial real estate sector.
Property rates in Ashram Road have shown a dynamic trajectory, with the location rate rising to ₹8,250 per sq ft in Jun 2026 from ₹7,250 per sq ft in Mar 2026. This recent upward movement follows a period of relative stability where rates were recorded at ₹7,300 per sq ft in Dec 2025 and ₹7,850 per sq ft in Sep 2025, suggesting a recent strengthening in demand for the area.
As of Jun 2026, office spaces in Ashram Road command an average price of ₹8,250 per sq ft, having appreciated by 13.37% compared to previous periods. In contrast, apartments are priced at an average of ₹6,350 per sq ft, which reflects a depreciation of 6.21% over the same timeframe, highlighting a clear divergence in value between the commercial and residential segments in this locality.
The average rental rate in Ashram Road is ₹59 per sq ft as of Jun 2026, marking a significant appreciation of 18% compared to previous periods. The locality currently offers a robust rental yield of 9.77%, which is an attractive metric for investors looking to balance capital appreciation with consistent rental income.
Office spaces in Ashram Road currently rent at an average of ₹50 per sq ft as of Jun 2026, which has seen an appreciation of 18% compared to previous periods. While the overall average rental rate for the locality stands at ₹59 per sq ft, the specific performance of office spaces aligns with the broader growth trend observed in the commercial segment of the area.
Rental rates across neighbourhoods near Ashram Road are largely consistent at ₹50 per sq ft as of Jun 2026, though growth trends vary significantly. For instance, Jivraj Park has seen a notable rental appreciation of 115.38%, while Paldi recorded a 25% increase and Navrangpura saw a 5% rise. Conversely, areas like Vastrapur and Naranpura experienced rental depreciations of 11.11% and 8.7% respectively, while Ellisbridge, Ambawadi, Satellite, and Vasna have maintained stable rental rates.
Among the surrounding areas, Vastrapur holds the highest average rate at ₹8,650 per sq ft (up 3.66%), followed by Ellisbridge at ₹8,450 per sq ft (down 1.64%) and Navrangpura at ₹8,350 per sq ft (up 9.58%). On the lower end of the spectrum, Vasna and Gurukul both report average rates of ₹6,100 per sq ft, with Vasna showing a strong appreciation of 18.14% and Gurukul showing a depreciation of 11.92% as of Jun 2026.
A rental yield of 9.77% in Ashram Road, as of Jun 2026, indicates a strong income-generating potential for property owners, particularly in the commercial office space segment. Investors should view this yield in the context of the 18% appreciation in rental rates, which suggests that the locality is becoming increasingly attractive for tenants, thereby supporting both current cash flow and potential long-term value growth.
