Rental Value in Ahmedabad's Prahalad Nagar is growing fast

Q: Hi, Prahlad Nagar in Ahmedabad has seen a rise of 9% in the rental values in1st quarter'2014.

Sankalp, Mumbai

20th May 2014

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Replies (2)

Hi Shantanu,
Rental values in Prahlad Nagar range from Rs 13000-17000/month while the capital values range from Rs 4300-5900/sq ft.

Vineet Tendulkar, Mumbai

20th May 2014

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@Vineet,
Not only this but also the he locality also retained its third position in the top ten preferred rental localities of Ahmedabad in the same quarter.

Shantanu Kumar, Mumbai

20th May 2014

@Shantanu,
That is why the growing demand of property in Prahlad Nagar made a 2BHK apartment, which is priced between Rs 30-40 lakhs in the area, can easily be rented for Rs 10000-20000/month. Similarly, a 3BHK apartment, which is the most demanded unit in the locality, is priced between Rs 90-1.2 crore, while it can be rented for Rs 20000 to Rs 40000/month.

Vineet Tendulkar, Mumbai

20th May 2014

@Vineet,
The difference in rents depends on proximity to the Corporate Road where all multi-national companies and commercial offices are located. The closer they are to the Road, the more is the rent of the apartment.

Shantanu Kumar, Mumbai

20th May 2014

@shantanu,
Only upper middle class and high class people can afford to buy properties here because of high rate therefore the middle-class families and bachelors go for rental accommodation. Both families and bachelors prefer to rent more spacious 2/3BHK apartments. Even the corporate companies rent properties here for their senior executives and management.

Vineet Tendulkar, Mumbai

20th May 2014

Hi,
Prahlad Nagar is situated near to Sarkhej-Gandhinagar Highway and is nearby to Ring Road. Vastrapur Railway station is situated just 1 km away from here. Being one of the most developed localities of Ahmedabad, it has all the basic facilities such as schools, hospitals, banks, restaurants, malls, etc within the vicinity.

Shantanu Kumar, Mumbai

20th May 2014

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