India, despite being globally recognized as an economic powerhouse and a key engine for global economic growth is still however classified as a developing country. Though we recently crossed the 2 trillion dollar GDP threshold, India is still globally ranked as a “lower middle income” nation. Bangladesh for example is ranked one notch higher as a “middle income” nation.
However, this is no cause for gloom, we may have a great deal poor people in our country, but we also have a large number of super rich ones. People who can afford luxury and super luxury apartments are buying them with gusto with top builders in Ahmedabad like Goyal & Co catering to this high end segment.
Super luxury apartments in Ahmedabad can cost up to 7 crores and “mere” luxury apartment’s price tags start from 2 to 3 crores. Such luxury apartments in Ahmedabad can be found at Prahladnagar where price per square feet varies between 5,500 Rupees per square foot to 6,000 Rupees per square feet for prime luxury properties.
I heard recently of upcoming projects in Ahmedabad which cost nearly 7 crores. The builder, one the best in the city, The Sanskruti Group plans for the super luxury apartments in Ahmedabad to be completed by 2018. The flats boast of 9,200 square feet carpet area and have 5 bedrooms or more.
When writing of such opulence it may seem to be in poor taste to write about affordable housing on the same page, yet the fact the government offers an affordable housing scheme in Ahmedabad bodes well for the city. Today’s affordable home dweller, considering the ingenuity of the Gujarati people, may be a future buyer of luxury flats in Ahmedabad. Business acumen of is the hallmark of the Gujarati people and there are probably more rags to riches stories here than in any state in India.
Real estate developers in Ahmedabad who offer affordable housing in the city include Dhramadev Infrastructure, Galaxy Developers and others.
A notable affordable housing scheme in Ahmedabad is located at Aslali Circle and is under development by DBS offering affordable flats in Ahmedabad starting from only 7 lakhs. The flats specifications range from 1 BHK up to 3 BHK.
For some only the best would do yet others have to make do. Such is the contrast in India, however the various affordable housing schemes across the country hope to bridge the gulf between the haves and the have not’s. Whether such schemes would work and if so how long would it take for a more prosperous nation to emerge cannot be answered definitively by anyone today.
However, buyers interested to own property in Ahmedabad need not necessarily be wealthy, the city has an abundance of flats to suit most pockets and a less well-off yet diligent and enterprising worker need not shy away from owing real estate in Ahmedabad. The option to own property in Ahmedabad is open to most that would be keen to have it.
With that said, a recent study has found that despite being ranked as a “lower middle income” nation today, it may take only another decade before our country jumps over the “middle income” category to be classified as an “upper middle income” Nation.