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Rental Property in Ahmedabad

Ahmedabad is a commercial center that is also known as the ‘Manchester of the East’ because of the booming textile industry in the place that was much an acclaimed industry in Gujarat. It is because of textile deals that investments and traders flowed into the state giving a royal boost to its Gross Domestic product. Now, Ahmedabad is one of the fastest growing cities in the country that offers a lot of career and educational prospects to the people. As many and many people are relocating to Ahmedabad, the demand for housing is increasing. The rental property in Ahmedabad is also one of the popular means of accommodation to the students and professional who are not willing to opt for permanent house ownership in Ahmedabad. The city that is developing into a popular business center is now emerging as a real estate development hub.

 
Real estate investments in Ahmedabad are riding high in the post-recession period and the sale of homes has also gone up. But, according to market estimation the people are ready to spend more on the rental property market in Ahmedabad than ownership ones. This is a money-saving mode for those who have no plans to spend their life in Ahmedabad. The students coming to Ahmedabad for a period of 3-5 years prefer the rental homes in Ahmedabad.
 

Commercial rental property in Ahmedabad

 
The commercial rental property boom in Ahmedabad came in soon after the foreign companies and the multi-national companies began to gain ground and hired commercial space for outsourcing jobs. Presently, the BPO (Business Process Outsourcing) boom in Ahmedabad and Gandhinagar is fuelling demand for commercial properties in Ahmedabad like never before. One of the prime examples of recent year’s rental boom in Ahmedabad is Mphasis BFL Ltd leasing out 10,000 square feet of office space. Those new in the city are opting to rent more space than never before and until they get a complex built as their own. 
 
The affordable rate of commercial reantal property could be one reason why the companies are willing to hire commercial place and even in prime locations. The rental properties in Ahmedabad that are under lease contract have charges different than the ones that are on monthly rental basis. In Gandhinagar area, the rental rates for commercial properties begin from Rs 6,000 onwards varying with the area square feet and the complexes. Outlet space in the popular malls is higher than shops anywhere else. Often businessmen ends up paying as much Rs 25,000-Rs 35,000 rent for shops in malls and shopping complexes. 
 

Residential rental market in Ahmedabad

 
The residential housing sector in Ahmedabad is flourishing with flats, apartments, pent houses, independent homes, bungalows, and official apartments. The rents vary with the localities in Ahmedabad and proximity to the business districts in Gujarat.
 
Rental property value in Ahmedabad
 
The below given chart gives you a glimpse of the rents in various place of Ahmedabad
 
Rental zones in Ahmedabad Rents
North Rs 12,000 onwards for 2 BHK flats
Central Rs 7,000-Rs 15,000
West Rs 5,000 onwards
South Rs 6,000- Rs 40,000