Demand of Residential Property in Ahmadabad

The demand for residential property in Ahmadabad is soaring high. Thanks to the good policies and their implementation by the State administration for the past few years. The improvements in infrastructural facilities like electricity, roadways, and water etc. made the state a favored destination for many businesses.

With a positive outlook more and more real companies are starting ambitious residential projects in the city. Also, the government’s aggressive strategy to attract foreign and national investments has paid off, resulting in a heavy influx of investments in to the state and city. This led to the increased business activity and the demand for real property, including the Commercial property in Ahmadabad has been at a satisfactory level for the real estate businesses.

Some Numerical Information Of Residential Property In Ahmadabad

The spur in the business activity has led to a meteoric rise in the prices of office and commercial space, this sector has seen an increase of 20% -30% in its value. Especially areas like Parts of Prahalad Nagar, East Ahmadabad, SG Highway, and Ashram Road. With close to 39 million square foot of residential projects already completed builders now are aiming to develop another 30 million square foot of residential projects in the next 2-3 years. About 1.1 million square foot of office space is under construction, adding to the already existing 3.5 million square feet space. It is estimated that the in next 2-3 years, another 2.5 million square feet commercial space would be added. Such increased activity has led to immense competition among the real businessmen guaranteeing quality final product to the end user.

Builders of repute from neighboring cities are also showing immense interest to develop residential and commercial property Ahmadabad. Big players like Khyatirealities group, Godrej properties and Hiranandani builders have already started developing their ambitious projects in the city. Though the prices of real property in surrounding areas has been inconsistent, and been subject to correction, investors in Ahmadabad have been less worried with the prices remaining stable.

With the economic and business activity showing no signs of slow down even in the global recession and more and more foreign companies showing interest in setting up businesses, the real estate business is gearing for an all time high in Ahmadabad in the next few years. Property in Ahmedabad boards everywhere is attracting all, from city dwellers to NRI’s people are interested in investing and cashing in on the boom. People are investing more in real property as compared to gold or any other investment opportunities. The real property has seen appreciation in value that is close to 50% in the past three years.
12/23/2013 05:34:14 pm

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