Growth in Ahmedabad Real Estate

The Heritage city -Ahmedabad recorded substantial growth in real estate sector in an upward trend to meet this rising population and the investor-led real estate industry & turned itself into a well driven end-user market. The rising market is also attributable to NRI and investors' interests.

Property prices here are affordable. It is the largest town in Gujarat and has some of the leading shopping centers, quality education and facilities situated next to the Sabarmati River.

Metro: The Metro has already begun. This phase links to the city center and the west affordable areas. Consequently, the travel time between the highly populated areas will be significantly reduced.

Sardar Patel Outer Ring Road: The road has been established already and benefits most of the city's peripheral areas.

SG Highway and Bopal continued to be the most preferred micro-markets due to their proximity to key employment hubs and better connectivity with the rest of the city.

Investors generally tend to focus on the top seven cities when it comes to real estate, such as Mumbai, Delhi, Bengaluru, Hyderabad, among others, but Ambit believes that Ahmedabad is an upcoming real estate market.

Firstly, it can be the next play on the India growth story. Secondly, is the continued infrastructure push for the city. The GIFT City (Gujarat International Finance Tec-City) has seen increasing foreign investment. Additionally, there is high degree of interest from the banking and IT sectors, which have occupied more than half of the city's commercial real estate.

What also makes the rise of Ahmedabad noticeable is the fact that the city has seen more real estate being sold than Kolkata and Chennai during the first half of calendar year 2022.

 

The 35 million square feet of commercial stock available makes Ahmedabad a compelling case to be included in the top cities, according to Ambit. The commercial stock of Ahmedabad has seen a compounded annual growth rate (CAGR) of 13 percent over the years.

Ahmedabad's real estate market has been selling apx.15,800 units annually.