Maninagar in Ahmedabad Witnesses Realty Growth
Ahmedabad real estate is on the growth path for the last decade due to the huge industrialization and development in Gujarat. As such, many localities in the city are growing well in terms of real estate. Maninagar is one such area in Ahmedabad that is witnessing growth in the realty sector due to its proximity to the industrial areas and well growing infrastructure.
Location and connectivity
Maninagar is situated in the southern part of Ahmedabad and near the Odhav and GIDC industrial areas. It also lies very close to National Highway 8, which consists the Delhi Mumbai Industrial Corridor (DMIC). The highway connects the area to other major cities such as Vadodara, Mumbai and Delhi. The area is also close to the Ahmedabad-Vadodara Expressway, which is an upcoming industrial corridor in Gujarat.
Maninagar has good accessibility via bus and train. The Maninagar railway station lies on the periphery of the area. The area also has several AMTS and BRTS buses plying regularly. The Ahmedabad airport is about 14 km from the area.
Infrastructure and amenities
The infrastructure in and around Maninagar has seen growth due to the industrial growth around the area. The GIDC industrial area is about 7.5 km away while the Odhav industrial estate is less than 10 km from the area. As such, there is a good supply of electricity and water to the locality. There are also good roads in the area. Besides good basic infrastructure, there are some good social amenities in the locality.
There are several government and private schools and colleges in the area. There are also several hospitals such as Jankalyan and LG Hospital. There are several banks including ICICI and Indian Overseas Bank. There are commercial centres, libraries, malls, restaurants, coaching institutions and places of worship in the locality. Mira Cinema is a movie theatre near the area. Attractions in the locality include Nanalal Park, Kankaria Lake and Kankaria Zoo.
Maninagar real estate on growth path
Industrial growth, good connectivity and infrastructure growth have fuelled the real estate in the area. The area was once far less developed than the current situation. However, one may witness new projects and a good real estate activity in the area in recent times. The locality attracts migrant working population working in the nearby industrial areas, who want to stay near their work areas.
The locality has 1, 2 and 3BHK apartments and residential houses. A 1BHK apartment has a covered area of 500-650 sq. ft. while a 2BHK property has a covered area of 855-950 sq. ft. A 3BHK property has a covered area of 1,600-2,250 sq. ft. A 2 and 3BHK residential house has a higher covered area, ranging from 1,080-3,800 sq. ft.
The cost of a 1BHK apartment ranges from Rs 14-20 lakh, while that of a 2BHK apartment is about Rs 15-25 lakh. A 3BHK apartment costs about Rs 50 lakh. Apartments with more amenities are available at a higher price. A 2BHK residential house costs about Rs 65 lakh whereas a 3BHK house/villa costs more than Rs 1 crore. Due to the growth in demand for houses, property values have gone up, yet have remained affordable. The average property value went up from Rs 3,400 per sq. ft. during the first quarter of 2012 to Rs 4,000 per sq. ft. during the first quarter of 2014, marking an increase of 47 per cent in two years.
Hence, considering the growth in real estate in the last two years, one can say that Maninagar realty is on the growth path.
