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Residential Properties in Ahmedabad

Real estate Ahmedabad comprises flats, apartments, serviced apartments and bungalows, penthouses and townships. Small residential developments with bungalows schemes or apartment complexes are common. There is also a lot of demand for low-rise premium property.

The size of the residential market in Gujarat makes it the best time to invest in real estate in the city. From the previous year, property prices in Ahmedabad have increased by 10%-15%. Going by the number of bungalows and apartments being planned, Sola Road, Vadaj, Ghatlodia, and Gandhinagar are going to be hotspots residential properties in Ahmedabad. Areas like Sheila, in South Bopal, and Ghuma, beyond Bopal are apparently good for bungalow schemes.

New Age Township projects in Ahmedabad
There is a new found craze for setting up township projects in Ahmedabad. Areas around Ahmedabad towards Gandhinagar are also up for grabs. The Adani group is planning a Rs. 2000 crore plus mega township near Nirma University on SG highway. Other players eyeing the real estate market pie are also big names like DLF, K Raheja Group, Unitech, Parsvnath and some others.

Ahmedabad residential real estate with new kinds of planning is becoming a trendsetter of sorts. A golf housing community project situated close to the Nal Sarovar Bird Sanctuary will be the first of its kind. The 600 acre Kensville project will have residential plots on the fairways. The Sahara Group has recently announced an integrated township project a shopping mall, multiplex, hospital, post office and petrol pump. It will offer eight categories of flats with the prices varying from Rs 5 lakhs to Rs 37 lakhs.

Moreover, the capital value on offer for residential properties in Ahmedabad is fairly low, reasonable and affordable in comparison to other Tier II cities in India. The rates vary from Rs. 600 per sq yd to Rs. 1100 per sq yd for plots ranging from1000 sq yd to 3500 sq yd. The prices are amazingly low. A 4-BHK apartment with Jacuzzis, shower cubicles, air-conditioned foyers, gyms and terrace gardens with lawns commands Rs. 70 lakhs in Ahmedabad.

The upmarket locations in Ahmedabad have prices lower than what would match their snob value. Even apartments under construction are giving a 20% appreciation in two months. The current average rate for residential property in Ahmedabad is Rs. 1400 per sq ft to Rs. 2000 per sq. ft. A smaller budget will mean Rs. 1000- Rs.1500 per sq ft for a 3-BHK apartment.

NRIs with post retirement plans to return to India can now have better reasons to invest in Ahmedabad rather than in any other Indian city when they complete their stint abroad. Ahmedabad real estate also calls for investment plans at a reasonable price away from home. Mostly NRI buyers who have been bought into the idea of second home on a visit to Ahmedabad after a long time.

New standards
The growing trend for demand in residential properties in Ahmedabad has encouraged many developers to invest in the city. Developers like the Heritage Group have projects of all kinds including bungalow schemes and farmhouse schemes and have plans for service apartments as well to serve IT parks.

There are promising collaborations taking place. Adani, for instance will work with Ahmedabad-based Ashima group's Saumya Constructions on a 200-hectare integrated totally self sustaining township project called Shantigram. The township is slated to be a mix of apartments, individual bungalows, shopping malls, offices and entertainment complexes complete with facilities like a civic centre, golf course, cricket ground, a recreation club, hotels, restaurants hospitals, schools and a couple of higher education institutions.

With growing investment opportunities Service Apartments has come to be seen as a better and affordable alternative to a hotel room for those traveling to Ahmedabad for vacation or for work. It offers the comfort of home without the hassles involved in getting utility connections, furniture purchases, maid services and expensive rental deposits.

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