Continuous growth of Ahmedabad real-estate due to industrial development

Q: Hi, Why Ahmedabad real-estate market in steady march towards growth? Which are the fields where it is in full swing? What are the reason behind it?

Vikash V, Ahmedabad

11th February 2014

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Replies (3)

Hi everybody,
Which are the prime residential areas of Ahmedabad City? Which are the places where the maximum numbers of residential bungalow and farm house developments in the recent years.

Sanchita Chanda, Ahmedabad

11th February 2014

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Hello Sanchita,
The prime residential areas in the city are Shahibaug (in the northern part of the city), Satellite, Bodakdev, Vastrapur, Prahladnagar, Thaltej (in the western parts of the city), Maninagar and areas around Kankaria and Chandola Lake in the southern eastern parts of the city.

Jack , Ahmedabad

11th February 2014

Thanks Jack,
What is the percentage growth shown in the property rates across all sector in Ahmedabad? Apart from Ahmedabad who are the other market drivers?

Sanchita Chanda, Ahmedabad

11th February 2014

Your most welcome,
Apart from Ahmedabad, Surat and Vadodara also rank high in the state’s real estate contest. As Gujarat’s second largest city, Surat including Vesu, Piplod, Pal, Adajan and Varachha Road are major market driver.

Vadodara is Gujarat’s third-largest city and another preferred emerging investment destination. The prime residential areas are Alkapuri, Race Course Road, Old Padra Road, Jetalpur, Akota and Fatehganj.

Jack , Ahmedabad

11th February 2014

Hi everybody,
can anybody explain me why is the Ahmedabad right investment destination in India today? Is the city showing extraordinary returns on the real estate front?

Nandakishore, Ahmedabad

11th February 2014

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Welcome Nandkishore,
Because of ultra-progressive policies and intelligent development governance. The city is providing extraordinary and unprecedented returns on the real estate front, and that is why is one of the most exciting investment destinations in India today. Developers and investors from all over the country are beating a straight path to Ahmedabad.

Devesh Kumar, Ahmedabad

11th February 2014

Thanks Devesh,
Which are the areas where it has shown tremendous growth? What were the percentage of rising in those areas? Was the residential properties too in huge demand?

Nandakishore, Ahmedabad

11th February 2014

well,
Commercial investments have shown amazing growth, with capital values for commercial properties rising by as much as 20-30% in areas such as Prahladnagar, Sarkhej-Gandhinagar. Highway, Ashram Road and some parts of East Ahmedabad.

Residential property appreciation in the city has been to the tune of 50 per cent over the last three years. The areas currently commanding the highest demand for residential space are South Bopal, Bodakdev, Vastrapur, Nicol, Nava Naroda and New Ranip.

Devesh Kumar, Ahmedabad

11th February 2014

One last question devesh,
Why the trend of apartment houses changed into high-rise towers in the city? Is there any new bungalow scheme in Ahmedabad City?

Nandakishore, Ahmedabad

11th February 2014

You just carry on Nakishore ji,
The scarcity of land and expensive real estate prices in the city have brought in the trend of apartment houses in form of high-rise towers in the city.

Now-a-days new bungalow schemes can be found on the outskirts of Ahmedabad city, especially along the Sardar Patel Ring Road.

Devesh Kumar, Ahmedabad

11th February 2014

Hello Vikash,
Ahmedabad’s real estate market is on rise because of to the huge growth of its industrial sector and the overall high rate of development, both in commercial and residential terms.

The reason behind it that it is the hub of the textile, pharmaceutical and chemical industries. Apart from being a well-established education centre with national institutes like IIM, NID and CEPT Ahmedabad has also established itself as a major IT/ITeS and retail destination. The combination of the favourable factors naturally makes it a highly desirable residential destination.

Devesh Kumar, Ahmedabad

11th February 2014

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