As the largest city in the most prosperous state in the country, Ahmedabad has a great deal going for it. It has excellent infrastructure as well as a standard of living that is higher than the national average, although the city may not yet have the allure of cities such as Bangalore and Pune; it does have an identity of its own as a city with good schools and plentiful modern industry.
An attractive location for homebuyers keen to own property in Ahmedabad is Thaltej, located in western Ahmedabad. The price of property at this western part of Ahmedabad appreciated greatly over the past few years only to now settle back down at slightly below 4,700 rupees a square foot. Thaltej has a large number of luxury housing developments with many units priced between 1 and 2 crores, most units priced at this range consist of 2 to 3 BHK apartments. For buyers who are keen to own luxury villas in Ahmedabad, Thaltej is an attractive option with a wide availability of 5 BHK villas, however some such villas priced at upwards of 5 crores would not be considered inexpensive in any real estate market in the country.
As an attractive real estate destination, over 20 new projects in Ahmedabad are under construction at Thaltej, many in the form of high rise apartments.
The more modest and certainly less expensive locality of Chandkheda in Ahmedabad may be an attractive location for buyers who are keen to own budget apartments in Ahmedabad. Most of the flats at this locality are priced well below 50 lakhs giving some respite to homebuyers who are keen to own affordable homes in Ahmedabad. A 2 BHK 1,350 square foot flat at Chandkheda would cost you only a little over 28 lakhs and a 1,600 square foot 3 BHK flat here could be yours for approximately 40 lakhs. The price of property at Chandkheda has appreciated slightly more than 6 percent over the past 36 months.
Motera, a locality of Ahmedabad a few kilometers from Channdkheda is a slightly more upmarket locality than Chandkheda with numerous apartments priced between 50 lakhs to 1 crore rupees. A good quality 3 BHK flat here by one of the top builders in Ahmedabad could be yours for a little less than 80 lakhs. Motera has a moderately established social infrastructure of schools and hospitals, though not as well developed in regards to such facilities as many other parts of the city, Motera still has the advantage of being well connected with the rest of the city and the infrastructure though not as yet fully matured is heading in that direction.
As one of the leading real estate destinations in the country, Ahmedabad is quickly becoming a destination for homebuyers as well as investors. Property in Ahmedabad is not as exorbitantly priced as property in similarly sized cities such as Pune and Bangalore but is still a great bet for homebuyers as well as investors. With time the real estate market in the city can be expected to scale newer heights.