Builders in India
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Ahmedabad’s real estate scenario is promisingly experiencing a huge surge of the demand of properties against the lower estimated demand. This progressive scene is the result of stabilized rates in the reality sector, especially of the commercial sector. According to an expert forecast, a large number of Special Economic Zones (SEZs) have been planned in Ahmedabad and around it that are going to give an incredible impetus to the progression of the region.
The present circumstances of real estate growth have given encouragement to developers to towards community-centric growth that would primarily focus on value oriented real estate products. The property scene in Ahmedabad is getting more lucrative as this city is being led primarily by banking, financial services and insurance, telecom; pharma; and textile sectors. Real estate is being encouraged towards gradual development because of involvement of small and medium enterprises; private companies, PSU banks; insurance firms; and IT and IT enabled companies.
Ahmedabad is India’s seventh largest city and the hub of textile and pharma industries. This former capital of Gujarat is a happening city and rightly called the commercial capital of the state and home to Asia’s leading management school IIM, Ahmedabad. Thanks to its proximity to Mumbai and Surat, Ahmedabad enjoys special attention from a commercial point of view.
Modern Ahmedabad is teeming with skyscrapers, shopping malls and multiplexes. As per a study by a realty consultant, Ahmedabad is in the league of top six cities in terms of real estate development. The other five cities are Mumbai, Delhi, Hyderabad, Bangalore and Pune. The western and the northern areas of Ahmedabad are witnessing more residential projects. In the eastern region of the city developers are launching several new projects.
With Ahmedabad raising its profile as a centre for medical tourism, management education, information technology, scientific industries, retail financial services the property market in all segments are benefiting.
The focus of the state government on infrastructure development is also helping the property market. The government is encouraging technology parks, education based townships, medical and healthcare townships, tourism-related townships, Logistics Park and residential townships. The Sabarmati riverfront development (SRFD) project will be a water shed and envisages a Singapore model push to the cityscape. Among the developers, Godrej Properties Ltd with its township project is the latest entrant to the city’s real estate sector.
Prominent localities for residential properties in Ahmedabad include Satellite, Prahlad Nagar, Bopal, Bodakdev, Vastrapur, SG Highway Vejalpur, Gurukul, Thaltej, Paldi, Ambavadi, Drive in road, Jagatpur Navrangpura; S P Ring Road; Naranpura; Ramdev Nagar; Vasna; Ghatlodia: Sanand and Mani Nagar West.
Residential properties in the outskirts of Ahmedabad are getting more focus from second home buyers. The impact of the GIFT City project in Ahmedabad’s real estate is very commendable and substantial. It is coming up between Ahmedabad and Gandhinagar as a global BPO and IT hub generating one million jobs and a consequent push to residential properties.
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