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Real Estate Market in Ahmedabad

 The real estate market in Ahmedabad is a fast paced one. The properties are showing a fast drift and all set to surge. The largest city in the state of Gujarat with the population of almost 53 lakhs is the home of a booming place for architectural and infrastructural developments in Gujarat. The place for the Manchester of the East, Ahmedabad is considered as vibrant center of education, IT, and the shopper paradise. There are also several tourist attractions and the media industry is climbing new heights. Between these all the real estate industry is bound to be leaping. And, because of its name in the textile industry at international level the real estate and properties in Ahmedabad is developing as a promising field. The commercial real estate in Ahmedabad is getting a boost as many investors are getting interested in buying property in the city. Ahmedabad property market is well connecting with the rise in number of high-rise buildings and the retail outlets.

 

Residential real estate market in Ahmedabad

 

Since, Ahmedabad is a well connected to all other major cities through rail and roads, so there is no problem in the development of city. The Ahmedabad Urban Development Authority (AUDA) is putting all the efforts to develop the city and expand the investment base for realtors. This authority is also accountable for the infrastructure enlargement across the city and suburbs of Ahmedabad. The entire city’s residential architecture is moving closer to modernity and this is encouraging the builders to start off new housing projects more and more. The construction of sky scrappers, shopping malls, is the result of extensive plans behind the prevailing market properties and their rates. The rates for homes in Ahmedabad are eventually soaring. This is an advantage for the sellers but the buyers are looking out for more affordable options instead of spending a fortune on a 2 BHK apartment.

 

The rental market in Ahmedabad

 

The real estate market in Ahmedabad comprises of at least 30 per cent of rental accommodations both in the housing and the commercial segment. The rental properties in Ahmedabad are the most affordable options for many as they are also available in prime locations and priced within the budget. The residential rental market in Ahmedabad, after escalating to almost 100 per cent in the past three years, is witnessed a slowdown in the year 2008 that lasted for about 6 months. Though the value of land have been increasing across Ahmedabad but decrease in rentals are resulting in discouragement among the investors to hold on to their properties for long.

Area Rental rates
Thaltej 3 BHK- 1540 sq feet at Rs 18,000
Paldi (shopping centers) 370 square feet Rs 10,000

 

 

With supply of monotonous properties the rental market of the city is experiencing a downfall. However, the demand for houses has been forecasted to remain stable even as there is a fall in the residential rental values of property in Ahmedabad which is expected to continue until mid-2010.