AHMEDABAD: Ahmedabad’s property picture is very bright at the moment. The city is dragging its sister city on the same lines of boom, making Gandhinagar as one of the most viable options for property investment in the recent times. Major thrust has been provided to the twin city with the good network of BRTS connecting Ahmedabad and Gandhinagar.
Gandhinagar is taking all the possible steps towards becoming a futuristic city and the property scenario there is very soon going to match with Ahmedabad.
In Ahmedabad, affordable housing is the trend followed by need for integrated townships. The emerging trend of integrated township projects has also given new dimension to the city’s property picture. Even luxury housing sector is catching up fast. Luxurious housing projects are enjoying a new look trying out different product offerings and this has brought the crowd of investors into the luxury market. NRIs are also heeding the market in large numbers. It would be safe to say that luxury residential projects have stormed into this part of the world despite the slowdown. Yet another concept of weekend homes accompanied with resort and club facilities is growing at a fast pace.
Ahmedabad at its best
There are many factors, which have provided a boost to the real estate industry in Ahmedabad and Gandhinagar. The infrastructural development around the city, upcoming opportunities in major industries and companies and the growth in educational sector have made Ahmedabad one of the most convenient and affordable places to settle. The city has huge potential for future infrastructure development along with commercial development leading to new employment opportunities. In the recent times, commercial property is a very profitable avenue as many foreign companies have set up their sales offices in Ahmedabad and are likely to expand exponentially. Also, leading real estate companies are darting the property market of Ahmedabad for development of residential property. The city’s infrastructure is in its modernisation phase and the completion of major projects has improved the supply of potable water and electricity for the city, thus, making investment in real estate a very profitable option.
Gandhinagar too, has emerged as a place with excellent opportunities in real estate investment. A major commercial hub, the city has transformed significantly over the years by becoming one of the well planned areas in the state. The city has been developed in four phases having beautiful green cover that is attracting builders to develop housing complexes with good potential here. Previously seen as an administrative city, Gandhinagar has already developed as a trade capital of the state and now the residential realty is also growing at a fast pace in the region. Due to this growth of the residential realty, the property prices in Gandhinagar have seen a huge surge in the last few years. However, in contrast to the big cities, which have reached their saturation, the residential and commercial property in Gandhinagar is still affordable. As a result, the properties in Gandhinagar are high on demand among the investors who are looking for assured high returns.
Real estate market in Gandhinagar is growing owing to a number of reasons. The city has good infrastructure to support the building of residential complexes, societies and commercial space. Increasing development of shopping malls is attracting retailers and has spelt out a boon for shoppers. A city-based realtor avers, “Well-organised infrastructure and basic amenities have significantly contributed in the growth of residential property market in Gandhinagar. Even the better transportation system, enhanced infrastructural set-up, improved basic amenities, etc., are a few other reasons for the growth of residential realty in the region.”
With excellent connectivity to Ahmedabad, Anand and Vadodara, the city is attracting all the big and small developers. Educational facilities and opportunities for employment are also improvising so there will be a large number of people shifting here from all parts of India. With so many developments taking place here, the property prices are set to rise for sure. Overall, both the cities are witnessing an unprecedented property hike.