Real estate in Ahmedabad is moving ahead at a progressive rate setting new landmarks by promoting lifestyles which is matching international standards. Moreover, the ‘national capital’ status gives additional momentum to the flats in ahmedabad with a perfect mix of old and new.
The increasing foreign investments in real estate in Ahmedabad have opened new avenues for the commercial properties in Ahmedabad. The demand for office space reflecting international standards of the MNCs is in vogue. Established multi-nationals operating from Ahmedabad have created success stories for others to follow.
As more and more people plan to take a break from the routine 9 to 5 jobs and plunge into running their own businesses the demand for office space increases ten folds.
As far as purchasing a residential property is concerned the rich can do so at any point of time but the problem lies with the middle working class and the poor. The population explosion in Ahmedabad due to enormous migration of manpower increases the demand for residential properties. Both the government and the private developers have taken a note of this and are now targeting to provide affordable residential options. Many special schemes has been launched to construct townships for the poorer sections of the society.
Manpower availability, cheaper raw materials and cost effectiveness to run industrial units in the Ahmedabad region has sparked a row among industrialists to en cash the available resources as well as the opportunity.
There were days when one had to run in different directions to shop for necessities or luxuries and rush to eateries and movie theatres for enjoying spare time but the advent of shopping malls has changed the way. Right from your basic needs to entertainment options the multi storied malls have everything to offer. Malls have brought in the concept of everything under one roof. The real estate in Ahmedabad has a silent invader in the form of retail sector. Multiplexes and malls are mushrooming in every nook and corner of Ahmedabad.
Residential Sector of Ahmedabad:
Taking a closer look at the residential sector in the real estate market in Ahmedabad we can conlclude that the prices of residential properties are mainly driven by locations. Among the affluent class, Lutyen’s zone is a preferred posh locality. Residential properties in this area sell like hot cakes though at a breath taking price. The residents prefer not to part with their residential asset being aware of the worth of owning a house in this area. As the property demand in this area is high with a limited supply, the price of this region is extremely high. The prices in this area never see a downfall due to the elite neighborhood and historical significance of the location. Moreover, the area has well developed infrastructure and civic facilities as well. Owning a home in Lutyen’s zone earmarks high status in the Ahmedabad.
East Ahmedabad Real Estate:
The area is fast gaining acceptance as compared to the past. Treated as one of the most ignored regions of Ahmedabad, East Ahmedabad was home to only a selected few in the past having a low-income. The area was deprived of the basic facilities of schools, hospitals and entertainment options. However, at present, the area has been developed into a decent residential area leaving behind the cluttered and overshadowed structures and brimming with all the basic facilities. The property prices in East Ahmedabad are also increasing gradually in the wake of attention it is getting from the real estate developers.