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The Mumbai-Ahmedabad bullet train project has gained momentum with the construction of an additional 394-m intermediate tunnel at Ghansoli in…...
Ahmedabad is India's biggest city, and it is constantly growing. Every business in the city, from textiles to real estate, has room for expansion. Ahmedabad's real estate market has always been thriving. However, as new industries and businesses seek to establish themselves in this area, the demand for real estate has skyrocketed. Builders and developers are always working to create high-quality buildings to meet the needs of individuals and businesses. The expanding demand is significant. A multiplicity of solutions are developing to meet the needs of all home buyers.
Residential sales in Ahmedabad have been gradually increasing during FY 2021. The second half of 2021 saw the sale of roughly 4,100 units, with nearly 3,100 sold in the quarter ending March 2022. So far, the west and north zones have accounted for 30% and 38% of total sales in the investigated quarter, respectively, while the east and south zones have created 25% and 7% of total sales. Ahmedabad finished the quarter with an estimated sale of 2,500 housing units. Ahmedabad, with a 20% affordability ratio, remains one of the most inexpensive marketplaces in the country. However, property prices in the city were expected to rise by 15-20% from April 2, 2022, according to the Confederation of Real Estate Developers Associations of India (CREDAI). Gujarat, owing to a 35% increase in the cost of raw materials, particularly steel and cement, in the last two months. Because purchasers anticipate a significant price increase, discussions and concessions have been minimal, and purchases are closing faster than before.
Although 2 BHK flats continue to be the most popular layout, there is a progressive movement in ticket size as purchasers prefer larger units and purchase 3 BHKs. Approximately 70% of purchasers in the city bought residences priced between Rs 50 lakh and Rs 1 crore, a sector that has gradually increased by roughly 8% over the previous three years, while the remaining 7% purchased apartments priced beyond Rs 1 crore. The majority of customers continued to choose ready-to-move-in social flats over under-construction units. Unsold inventory sits at 18,500 units and will take 7.4 quarters to sell.
Ahmedabad's residential sector increased 62.5% in Q2 2022, representing a two-fold increase. In the city, 6,990 new units were launched, with inexpensive and mid-segment housing accounting for around 45% of new releases. The East Peripheral market emerged as the top choice for purchasers searching for low-cost houses. Fashion and leisure categories drove healthy lease activity in Ahmedabad, mostly in superior-grade malls. Activity at mediocre and good-grade malls started to perk up after being sluggish throughout the outbreak.
The micro-market comprises a healthy mix of established and emerging areas along the SG Highway. Pinnacle Business Park, Synergy Tower, and Commerce House 5 are nearby employment centres. It has a solid social and retail infrastructure, including schools, hospitals, malls, multiplexes, and so on. Apex Heart Institute, Nirma University, Ahmedabad One Mall, Iscon Mega Mall, and other important facilities can be found here.
Ahmedabad's population has an overall sex ratio of 897 women for every 1000 males. The total literacy rate is 88.29%, with 92.30% males and 83.85% women literate. There is also a sizable group of merchants known as Banias who practise different sects of Jainism and Hinduism's Vaishnava sect. In addition to Hindus and followers of Jainism, Ahmedabad is home to approximately 300,000 Muslims. Christians constitute a minor proportion of the population, 0.72%. The city has just one synagogue and around 125 Jewish residents. Because of the city's enormous population of practising Jains and Hindus, vegetarianism is prevalent in the city's restaurants and hotels.
| Specifications | Census 2011 | Census 2001 |
| Approximate Population | 72.14 Lakhs | 58.17 Lakhs |
| Male | 3,788,051 | 3,074,556 |
| Female | 3,426,174 | 2,741,963 |
| Population Growth | 24.03% | 27.25% |
| Sex Ratio | 904 | 892 |
| Child Sex Ratio | 857 | 836 |
| Density per km2 | 890 | 719 |
| Area in Km2 | 8,107 | 8,107 |
| Total Child Population (0-6 Age) | 842,518 | 769,666 |
| Male Population (0-6 Age) | 453,790 | 419,249 |
| Female Population (0-6 Age) | 388,728 | 350,417 |
| Literacy | 85.31 | 79.50 |
| Male Literacy | 90.74 | 87.31 |
| Female Literacy | 79.35 | 70.83 |
| Total Literate | 5,435,760 | 4,012,140 |
| Male Literate | 3,025,463 | 2,318,295 |
| Female Literate | 2,410,297 | 1,693,845 |
The cost of living in Ahmedabad varies from Rs 10,000 to 1 lakh, depending on whether you are purchasing or renting a property, the cost of transportation to and from work, the cost of domestic services, the cost of childcare, and other factors. The cost of living is predominantly determined by the place and lifestyle you want. The cost of living in Ahmedabad is lower than in other cities like Bangalore, Mumbai, and Hyderabad. Ahmedabad, India's fifth most populated city, is one of the safest, least expensive, and most developed cities.
Ahmedabad has a diverse choice of houses for sale and rent. These properties may be utilised for various purposes, including business, farming, and dwelling. A variety of properties in Ahmedabad are listed here.
Ahmedabad boasts a diverse assortment of ready-to-move-in houses. Gulbai Tekra, Aaryabhumi, Ambavadi, Kolat, and Dholera are some of the Ahmedabad neighbourhoods featuring high-quality ready-to-move-in residences. The layout of such buildings ranges from studio flats to large sizes of 6 BHK. Furthermore, the cost of renting ready-to-move-in houses ranges from 5,000 to lakhs per month, depending on the region, neighbourhood, furniture, facilities, and other considerations. Furthermore, the cost of acquiring such houses begins at 25 lakh and rises depending on the other aspects.
Studio flats in Ahmedabad are the most popular option for students and professionals from other cities to study or work. Satellite, Paldi, Jivraj Park, Ambawadi, Vasna, and Geratpur are some of the places in Ahmedabad with the cheapest luxury studio flats. The cost of renting a studio space begins at Rs. 5,000 and rises depending on the location, furnishings, flooring, and other considerations. The price of a studio space starts at 25 lakhs and increases depending on numerous aspects such as the market worth.
Ahmedabad, India's biggest city, provides several alternatives for renting and owning villas. The configuration of villas in Ahmedabad ranges from 2 BHK to 6 BHK. The buying price of a 2 BHK villa in Ahmedabad begins at 50 lakhs, while the rental cost starts at 12,500 for a villa with 2 BHK spaces. The price rises in response to demand, furniture, flooring, location, and other aspects. Mani Nagar, Ghodasar, Vastral, Ghuma, Science City, Santhal, and Bhadaj are the best places to rent or buy a villa in Ahmedabad.
Residential property is in great demand due to the expanding industrial and commercial sectors. But where in Ahmedabad are these industrial and commercial buildings located? The commercial properties in Ahmedabad that can be found are Nikol, Prahlad Nagar, CG Road, SP Ring Road, Satellite, Changodar, Airport Road, Usmanpura, and Ahmedabad Cantonment. Renting a business property in Ahmedabad begins at Rs. 7,500, while purchasing one starts at 17 lakhs.
The project provides seamless access to various major institutions, including Apollo Hospital, Narayana Multispecialty Hospital, Rajasthan Hospitals Ahmedabad, and the U.N. Mehta Institute of Cardiology. The Riverside School, Amrut School, Delhi Public School, Rachna School, and Kendriya Vidyalaya are all involved in the initiative. Nearby hotels and clubs include the Hotel Ritz Inn, The Metropole Hotel, Hotel Siddhartha Palace, Aloft Ahmedabad SG Road, and more.
Residential property in Ahmedabad is in demand and has been offered in various configurations by the builders. Starting from small studio apartments in Ahmedabad to lavish and large 6 BHK spaces, it has it all. From affordable to luxurious flats, the residential property in Ahmedabad has something in store for all. The cost of renting a residential space in Ahmedabad starts from as low as Rs. 5,000 for a studio apartment and the buying price starts from as low as 25 lakhs for a 1 BHK home. The top five localities where one can find the right residential space are Bopal, South Bopal, Gota, Thaltej, Mani Road, Bhadra, and Gidc Vatva.
The affordable capital values make these two localities a preferred choice among those looking to rent or buy flats in Ahmedabad. Although these localities are situated at a distance from the centre of the city, they have smooth connectivity via the SP ring road. The configuration of flats in Bopal Ahmedabad starts from as low as 1 BHK and is available up to 6 BHK. The cost of renting the space starts at a price of Rs. 13,500 for a 1 BHK space, and the cost increases as per the size, furnishing status, and other factors. The cost of purchasing flats in Bhopal starts from as low as 65 lakhs for a 2BHK space and increases with the preference of the buyer.
This locality comes under one of the most expensive and well-developed areas of Ahmedabad and is one of the most preferred places to buy and rent flats in Ahmedabad. The flats start from the configuration of studio flats and go up to 6 BHK large spaces. The cost of renting a studio flat starts from Rs. 5,000 and the cost of a 1 BHK space starts from Rs. 13,500. The price of renting is likely to fluctuate depending upon the space, size, furnishing, and other factors of flats in the satellite. The cost of purchasing flats starts at 51 lakhs for a 2 BHK flat in this posh locality. The price will increase depending upon the market valuation, furnishing status, and other factors of the flat.
Sarkhej-Gandhinagar Highway, also known as the SG Highway, connects Ahmedabad to the city of Gandhinagar. In a short time, this locality has become one of the most preferred areas for flats in Ahmedabad because of the conveniences available. Currently, most development in both industrial and residential sectors is taking place in this locality. The configuration of flats in the SG Highway locality starts with 1 BHK space and can go up to 6 BHK flats. The cost of renting a 1 BHK flat starts at as low as Rs. 9,000 and the cost of purchasing depends upon the market valuation. The price is likely to fluctuate depending upon factors like furnishing status, size, etc.
The established and emerging commercial sets-ups are the main reasons that have made this locality a popular choice for flats in Ahmedabad. Many multinational companies are established in Prahlad Nagar, making it one of the best residential spaces in Ahmedabad. The configuration of flats in Prahlad Nagar starts with 2 BHK and goes up to 6 BHK. The cost of renting is quite affordable and starts from Rs. 25,000 for a 2 BHK flat, and the cost of purchasing is 65 lakhs for a 2 BHK home. The price of the flats is likely to change as per the factors like furnishing status, space, area, etc.
Gota is situated at a 10-kilometre distance from the centre of Ahmedabad. Since this locality is situated on the outskirts of the city, the prices of flats offered are quite affordable. People belonging to the middle-class section are more attracted to the flats constructed in this locality. The configuration of flats available in this locality starts with 2 BHK and goes up to 6 BHK. The cost of renting a flat starts at Rs. 38,000 for a 2 BHK space. At the same time, the purchasing costs start from 43 lakhs for a 2 BHK space. With the increase in price and the factors of the flats, the price will fluctuate too.
Chandkheda is one of the least expensive localities in Ahmedabad, with top-notch offers on flats. The configuration of flats starts with a space of 2 BHK and can go up to 6 BHK flats. The cost of renting flats in this locality starts from ₹22,000 for a 3 BHK space and the purchasing costs start from 34 lakhs for a 2 BHK flat. The price is subject to change with the market valuation, space and furnishing status of the space.
Thatlej is a locality situated between the Sardar-Patel (SP) Ring Road and the SG Highway and is one of the most premium localities to rent or buy a flat in Ahmedabad. The configurations of flats available here start from 2 BHK and go up to 6 BHK. The cost of purchasing starts at 64 lakhs for a 2 BHK space, and renting costs for a 2 BHK flat start from Rs. 21,000. The price of flats in Thaltej is likely to fluctuate depending upon factors like furnishing status, area, etc.
Ahmedabad is the cheapest of the top eight cities in the nation for property buyers in the first half of 2022. Regarding the house purchase affordability index, Ahmedabad increased from 46% in 2010 to 25% in 2019 and 22% in 2022. However, Ahmedabad's most remarkable result was a 20% in 2021, with the affordability index rising after the epidemic. New product releases increased by 25% over the same period to match growing demand. According to developers, increased bookings may be attributed to a recovery in market mood fueled by the need for more excellent residences. Furthermore, several transactions were completed after the announcement of a rise in home prices.
The below-mentioned list has the following new real estate projects:
Gujarat has been among the developing states in implementing and accepting the Real Estate Regulation and Development Act. Gujarat Real Estate Regulatory Authority (GUJ RERA) was constituted by Notification No. 23, dated March 8, 2017, by the Gujarat government for the regulation and development of the real estate industry in the state of Gujarat. It established the regulatory authority to assist homebuyers as well as to register builders, promoters, and real estate brokers. Roughly 3.8k real estate projects have been registered successfully under Gujarat RERA, and the administration has given 702 registration certificates to its agents. Some of these projects are:
Several NRIs are expected to invest in Ahmedabad this year, up to 32% according to several reports. The city is expected to witness an increased inflow of migrants and an increase in property prices soon due to its stable absorption and consumption of residential and commercial property. There are several notable neighbourhoods in Ahmedabad that are ideal for families. The new investment opportunities in Ahmedabad as a result of increased development initiatives in these areas are Prahladnagar, Vastrapur, Chandkheda, Motera, Satellite, Gota, Navrangpura, Bopal, Thaltej.
Ahmedabad is one city that has seen a massive makeover in the last decade to become a significant real estate market. The town has grown infrastructurally and strategically, fueling a broad real estate boom in numerous locations. The area's proximity to major industrial zones and employment centres has also increased the demand for residential real estate. Residents can access various educational institutions, retail malls, and hospitals, including the Gulmohar Park Mall, Iscon Mega Mall, DPS Bopal, Shalby Hospital, and the Shanti Asiatic School. The Ambli Road and SG Highway, as well as a solid local train network, provide excellent access for inhabitants.
The builders behind all of these residential projects have years of experience in the field. Their goal is to provide you with your dream home in a premium location in Ahmedabad. Residential projects in these areas are close to medical facilities, shopping malls, schools, and entertainment facilities. These renowned builders of Ahmedabad also design every apartment/flat with diligence. There is a proper ventilation system in every house, as well as greenery and great views from the balcony. There are several top real estate companies in Ahmedabad such as Sun Builders, Maruti, Dharmadev, Deep Group, HN Safal, Shayona Land Corporation, Sangani Infrastructure India Pvt. Ltd., Bakeri, Sangath IPL, Adani Realty, Bsafal, and Vishwanath Group.
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