22/02/2012
Ahmedabad in demand for residential and commercial property:-
Ahmedabad is one of the fastest developing and growing cities in India. Ahmedabad is proving to be an ideal city for buying residential and commercial property because of availability of excellent infrastructure and all the basic facilities.
The city, endowed with all the basic features essential for growth, has prompted many realtors to launch their projects in the city. Some of the key projects of the city are SEZs, hotels, integrated townships, gated communities, specialty townships, commercial complexes, malls, multiplexes and IT corridors have uplifted real estate scenario. The city is well connected, internally as well as externally through its elaborate transit systems, adding to its real estate values.
The real estate market comprises of residential apartments, bungalows, independent row houses, plots, farm houses, commercial as well as retail spaces. The prevailing low real estate values as compared to neighbourhood cities such as Mumbai, Pune make Ahmedabad as a viable alternative to any other city. This has resulted in expansion of multinational companies in the city.
The city is seeing wholesome expansion in all the fields such as education, tourism, entertainment apart from residential and commercial development. Well developed social and physical infrastructure along with basic amenities such as water, power, roads, drainage, transport etc are also contributing to city real estate development and are attracting buyers and investors.
Favourable FDI policy has attracted many foreign realtors to invest further boosting the realty segment. According to Bharat Bhai Modh, city base realtor, property prices in Ahmedabad’s posh areas are appreciating on an average of 5-10 per cent and apartments are fetching more demand than plots. Areas such as Ambavadi, S.G Road and Sardar Patel Ring Road are the emerging hotspots of the cities witnessing significant residential supply.
Ahmedabad realty segment is more consumers driven and the realtors are launching according to prevailing demand and need. The construction activities of new real estate projects have pushed property prices to new heights. The real estate scenario of Ahmedabad is very notable and is likely to increase in the near future.
