The city is among India’s fastest-growing cities, situated on the banks of the Sabarmati river and is the largest city of Gujarat. It is also the administrative center and seventh largest agglomeration in India. The city is divided by the Sabarmati river into two physically distinct regions viz. Eastern and Western Ahmedabad. The eastern bank of the river houses the old city with packed bazaars, the main railway station and numerous temples. The western region is dotted with educational institutions, well planned residential areas and shopping malls with multiplexes around Ashram road, C. G. Road and S. G. Highway. Residential Property in Ahmedabad is sprouting in the western region especially with increasing demand.
The city boasts of excellent infrastructure facilities, which is attracting many real estate projects there. It has many developing and premium areas and large number of high-income individuals. The development of residential townships, malls, office spaces and flyovers are some of the growth stimulators changing the cityscape of Ahmedabad. Maximum activity in terms of planned residential, commercial and retail development can be witnessed in this western micro market of Ahmedabad. Some areas are envisaged to have huge potential for residential developments. Thus, Residential Property in Ahmedabad is witnessing a great demand with excellent growth prospects.
Affordable housing in Ahmedabad is still the preferred medium and huge demand for affordable houses can be seen. To boost the supply state government has initiated new affordable housing policy. As per the policy the state government intends to make available affordable houses in the price range of Rs 3 lakh to Rs 25 lakh for people with an annual income ranging between Rs 1 lakh and Rs 5 lakh. The scheme of affordable housing in Ahmedabad is gaining popularity with more developers coming up with affordable projects.
Luxurious developments– Luxury apartments in Ahmedabad are also witnessing good traction and many projects have been launched on a lavish scale. There is a huge inflow of money from all over the country and also from abroad. The NRI investors, who are investing here, prefer a lavish lifestyle and they go for luxurious housing schemes. Due to this reason also the demand and prices of luxury houses have gone up. Luxury apartments and Villas’ constructions can be witnessed on large scale. Though the city is flourishing with luxurious projects the property prices are affordable compared to other major cities like Mumbai, Bangalore and Delhi. Hence, investors and NRIs are looking at Luxury apartments in Ahmedabad as it is the rapidly developing into a ‘realty city’, they can anticipate good returns on investment in near future.
Investors in Ahmedabad
The city is not only an investment opportunity city, but also an investor friendly city. It is among the few cities of India which not only attract investment, but have ample of investors. Residential real estate of Ahmedabad is dominated by private players and the market is also heavily driven by an active investor base, with most of the participants plowing capital market profits into the real estate markets. This is flourishing the real estate sector of the city.