Ahmedabad, capital of Gujarat is known as the most cultural rich city and is one of the most dynamic city of the state. The real estate in Ahmedabad has witnessed a massive boom in the recent past.
Ahmedabad is a burgeoning city with a magnetic cultural ethos that clearly reflects when in the old museums, monuments and forts. Apart from this large industries & various MNCs provide have entered into the space thus broadening the commercial dimension.
The residential areas that are under progressive development is Shahibaug (North); Satellite, Bodakdev, Vastrapur & Thaltej (West Asia); Maninagar, Kankaria, Chandola (South East Asia) and is also the prime residential areas in Ahmedabad. The major reasons for growth in the real estate market of Ahmedabad is also proportional to overall economic & industrial boom in the state. The proposed Ahmedabad Metro Phase I that will cover APMC to Motera and Thaltej to Vastram Gram, once functional, is expected to give higher ROIs in the regions. This will stitch the place to many other parts and save much time of the residents. Availability of large spats of vacant land near the Thaltej station is inviting many builders for new residential developments. Over the period, large NRI Diaspora have also been showcasing their interest for investing.
The most awaited Gujarat International Finance Tech-City (GIFTC) near Ahmedabad, once completed is envisaged to generate roughly 2 million jobs. This is likely to the boost the real estate market in Ahmedabad & Gandhinagar. ’
Ahmedabad has successfully established itself as a popular IT/ ITES & retail destination.
The Gujarat government has also initiated a lot of developments and also spending a lot of money such as Sarkhej-Gandhinagar Highway (SG Highway). SG Highway is touted to be one of the fast growing destinations in Ahmedabad. SG Highway is acclaimed as one of the fast growing destinations of Ahmedabad. Many lucrative projects are launched by the builders in that area.
SG Highway forms the intergal part of NH 8C that connects the city of Ahmedabad with Gandinagar which is the capital of Gujarat. SG Highway also provides a robust connectivity to Sardar Patel Ring Road, Ahmedabad Airport, Railway Network & proposed Metro (East-West Corridor). So SG Highway is an emerging hotspot in the real estate market in Ahmedabad. The city being a Silicon Valley attracts many investors to launch luxury apartments in Bangalore.
This is the most awaited construction which is expected to push the real estate market like anything.