Why is Ahmedabad becoming an increasingly popular real estate destination among buyers?
Ahmedabad – one of the fast-growing real estate destinations of the country, is attracting a majority of investors form various parts of the country. The transformation story of Ahmedabad form an urban landscape into a residential hub has been very interesting. Several factors can be attributed to the city’s fast-paced development, and few indispensable factors among them are – Expansion of city limits by Municipal Corporation, enhanced connectivity, steady development of infrastructure and increase in the number of industries.
The properties are relatively cheap than many famous areas across the country, and it is also an important reason for buyers flocking towards the place. Greater accessibility to both Mumbai and Delhi via Expressways and Railway lines deserves a mention. Boasting of a large number of Educational Institutions, the region’s socio-physical infrastructure is also very good. While excellent connectivity is touted to be one of the top reasons for investing in Ahmedabad, finest of health-care centres, the presence of sports stadiums, and close proximity to tourist spots are looked as other reasons for investment.
Famous realty developers like A Shridhar Construction, Harsh Realty, Amar Group and others have forayed to supply affordable flats in Ahmedabad. Moreover, the NRI is investing a lot in luxury segment, and hence the area is witnessing increased launches in luxury segments as well. Projects with built-in golf courses and other contemporary luxury amenities are in the pipeline. A recent report suggests that nearly 2 out of 3 under-construction projects are being built with luxury elements aimed at sufficing the needs of NRIs.
As said earlier, the influx of industries has led to the rise in the number of migrants, thereby boosting residential real estate demand further. Common rental, 2 BHK and 3 BHK flats in Ahmedabad are what they are after, and understandably so. That said, their focus is on the luxury segment too. Are there an adequate number of sources for supplying luxury units? Certainly no! But it’s expected to change sooner rather than later, as the increase in IT populace will attract even more real estate builders towards this part of the country
