Published On: Tue, Feb 3rd, 2015

Ahmedabad : A city of life

leftmidimgBy Accommodation Times News Services

Ahmedabad: Ahmedabad, a commercial capital of Gujarat, is the most favorable destination for real estate investments. Due to an excellent returns, local investors and NRIs are pouring an enormous investment in the city. The announcement of Rs 5,500 crore across seven mega cities in the country of which Ahmedabad is major development. Even Gujarat Institute of Housing and Estate Developers, a local authority has geared up to promote Ahmedabad as an investment destination.
Since the declaration of Ahmedabad as a mega city in the Union Budget the real estate activity has gained momentum in all its segments. An excellent infrastructure, housing large corporates and state and district level public office, the city has been ranked the seventh highest in Market Potential Value (MPV) among all the 784 cities in India.
The western parts of the city are prosperous areas for a residential segment. Many national developers have launched their residential projects with commercial facilities. Improved transport facilities and infrastructure have brought major activities in SG Road to the New Sardar Patel Ring road. Ahmedabad offers the latest trend of the market such as service apartments, villas and mixed use developments. In the next two year, the city will see Rs 700 crore investment in the mall segment by Indian and international retail players. The size of residential market of Gujarat has been estimated at over Rs 1500 crore per year and the residential market prices of Ahmedabad have shot by 10-15 percent an average. IT boom has led to expansion in the city. Commercial property development can be seen in areas like CG Road, SG Road, Ambavadi and Vanranpur.
The city with an industrial background is attracting a considerable FDI in the real estate market.
Ahmedabad, a commercial capital Gujarat, is ranked seventh in Market Potential Value.
The city, equipped with modern infrastructure and facilities, is emerging as a mega city.
Emerging areas such as Satellite, SG Road, Prahladnagar, opposite the Gujarat high court, and Science City on the outer parts of the city come under tier 2. Most of the residential apartments are coming up in these areas.
Commercial property development can be seen in areas like CG Road, SG Road, Ambavadi and Vanranpur.
Surat: Surat, a diamond city, is at its zenith point of development. Even though demand is high for both residential and commercial properties but the city is not meeting the demands. The scarcity of lands has force to developers to look beyond the city – Bamroli, Khajod, Sachin, Palsana, Puna Kumbharia Road and Mota Varachha, for residential and commercial projects. And the adding fuel in the out-skirts’ demand , The Surat Municipal Corporation has provided a requisite infrastructure which connect the suburbs. Real estate activity has been brisk in Vesu, Piplod, pal, Adajan and Varachha Road, where prices have been shot up considerably, then also the prices are affordable. Abama Road, Puna Gam, and the upcoming Kamrej Kadodara cross road are also being scouted by developers for residential projects in Surat. Real estate expertise predicts the upcoming Ichhapore Gems and Jwellery SEZ will bring more demand in the market. Infrastructure is currently weak in the cheaper localities like Bamroli, Khajod, palsana Road , Puna kumharia road, Dumbhal and Amroli. From investors’ point of view , it would be an ideal time to buy properties in these areas at the cheaper rates.
Cheaper land rates, well connectivity and trading hub are the main attractions but on the contrary developers are facing scarcity of lands in the city.
Out skirts Bamroli, Khajod, Sachin, Palsana, Puna Kumbharia Road and Mota Varachha are favored destination
Vesu, Piplod, pal, Adajan and Varachha Road are the heavy priced places.

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