Properties in Ahmedabad
Real estate Ahmedabad comprises flats, apartments, serviced
apartments and bungalows, penthouses and townships. Small residential
developments with bungalows schemes or apartment complexes are
common. There is also a lot of demand for low-rise premium property.
The size of the residential market in Gujarat makes it the
best time to invest in real estate in the city. From the previous
year, property prices in Ahmedabad have increased by 10%-15%.
Going by the number of bungalows and apartments being planned,
Sola Road, Vadaj, Ghatlodia, and Gandhinagar are going to
be hotspots residential properties in Ahmedabad. Areas like
Sheila, in South Bopal, and Ghuma, beyond Bopal are apparently
good for bungalow schemes.
New Age Township projects in Ahmedabad
There is a new found craze for setting up township
projects in Ahmedabad. Areas around Ahmedabad towards Gandhinagar
are also up for grabs. The Adani group is planning a Rs. 2000
crore plus mega township near Nirma University on SG highway.
Other players eyeing the real estate market pie are also big
names like DLF, K Raheja Group, Unitech, Parsvnath and some
Ahmedabad residential real estate with new kinds of planning
is becoming a trendsetter of sorts. A golf housing community
project situated close to the Nal Sarovar Bird Sanctuary will
be the first of its kind. The 600 acre Kensville project will
have residential plots on the fairways. The Sahara Group has
recently announced an integrated township project a shopping
mall, multiplex, hospital, post office and petrol pump. It
will offer eight categories of flats with the prices varying
from Rs 5 lakhs to Rs 37 lakhs.
Moreover, the capital value on offer for residential properties
in Ahmedabad is fairly low, reasonable and affordable in comparison
to other Tier II cities in India. The rates vary from Rs.
600 per sq yd to Rs. 1100 per sq yd for plots ranging from1000
sq yd to 3500 sq yd. The prices are amazingly low. A 4-BHK
apartment with Jacuzzis, shower cubicles, air-conditioned
foyers, gyms and terrace gardens with lawns commands Rs. 70
lakhs in Ahmedabad.
The upmarket locations in Ahmedabad have prices lower than
what would match their snob value. Even apartments under construction
are giving a 20% appreciation in two months. The current average
rate for residential property in Ahmedabad is Rs. 1400 per
sq ft to Rs. 2000 per sq. ft. A smaller budget will mean Rs.
1000- Rs.1500 per sq ft for a 3-BHK apartment.
NRIs with post retirement plans to return to India can now
have better reasons to invest in Ahmedabad rather than in
any other Indian city when they complete their stint abroad.
Ahmedabad real estate also calls for investment plans at a
reasonable price away from home. Mostly NRI buyers who have
been bought into the idea of second home on a visit to Ahmedabad
after a long time.
The growing trend for demand in residential properties
in Ahmedabad has encouraged many developers to invest in the
city. Developers like the Heritage Group have projects of all
kinds including bungalow schemes and farmhouse schemes and have
plans for service apartments as well to serve IT parks.
There are promising collaborations taking place. Adani, for
instance will work with Ahmedabad-based Ashima group's Saumya
Constructions on a 200-hectare integrated totally self sustaining
township project called Shantigram. The township is slated
to be a mix of apartments, individual bungalows, shopping
malls, offices and entertainment complexes complete with facilities
like a civic centre, golf course, cricket ground, a recreation
club, hotels, restaurants hospitals, schools and a couple
of higher education institutions.
With growing investment opportunities Service Apartments
has come to be seen as a better and affordable alternative
to a hotel room for those traveling to Ahmedabad for vacation
or for work. It offers the comfort of home without the hassles
involved in getting utility connections, furniture purchases,
maid services and expensive rental deposits.