Ahmedabad Is Turning Into A Favourite Destination For Property Investors

Source: B Q Prime

Ahmedabad: An Emerging Epicenter for Real Estate Investment

In the vibrant tapestry of India's real estate landscape, Ahmedabad is fast emerging as a gem for property investors. The city has been capturing the attention of both homebuyers and investors. So, let's delve into the unique aspects that render Ahmedabad a prime destination for property investment.

A Metropolis on the Rise:

Ahmedabad is a thriving metropolis, and its exponential growth speaks volumes. With a population exceeding 8 million and a GDP crossing the impressive $68 billion mark, Ahmedabad stands tall as one of India's fastest-growing cities. It serves as a pivotal hub for various industries, including textiles, pharmaceuticals, chemicals, engineering, IT, and biotechnology. The city's educational prowess is equally noteworthy, with esteemed institutions like IIM Ahmedabad, NID, CEPT, and PDPU calling it home. Ahmedabad's accolades include being ranked as the best city to live in India according to the Ease of Living Index 2020 and being selected as one of the 100 Smart Cities under the Government of India's flagship program.

Seamless Connectivity:

Ahmedabad boasts excellent connectivity, both within the city and beyond. A well-established network of roads, railways, and an international airport ensures smooth transportation. The city's metro rail system, inaugurated in 2019 with 40 km of track and 32 stations, is set for expansion in its second phase, adding another 28 km and 22 stations. Additionally, Ahmedabad is an integral part of the Western Dedicated Freight Corridor, which will revolutionize freight movement between Ahmedabad and Mumbai. The city's inclusion in the Delhi-Mumbai Industrial Corridor (DMIC) further bolsters its prospects for industrial growth and economic prosperity.

Affordability and Variety:

Ahmedabad opens its doors to a diverse array of property options, catering to all budget ranges, from affordable housing to luxurious apartments. The city's average property price, hovering around ₹4,000 per sq ft, is notably lower than its metropolitan counterparts like Mumbai, Delhi, Bangalore, and Chennai. Several localities in Ahmedabad offer properties priced below ₹4,000 per sq ft, such as Nikol, Chandkheda, Narolgam, Ranip, New Ranip, Vejalpur, New Maninagar, Nava Naroda, Jagatpur Village, Ghuma, Vastral, and Naroda. These locales have seen a surge in demand and supply, driven by their affordability and connectivity. Conversely, neighbourhoods like Bopal, SP Ring Road, Shela, and Thaltej have witnessed property price appreciation due to their proximity to employment hubs and infrastructure development.

Rental Opportunities Galore:

Ahmedabad presents alluring rental returns, especially in the commercial segment. Various sectors, including IT/ITeS, BFSI, manufacturing, pharma, and e-commerce, are hungry for office space, driving the city's commercial real estate demand. In Q2 2021, Ahmedabad recorded a robust leasing volume of 1.2 million sq ft, buoyed by flexible workspace demand. The average rental yield for office spaces in Ahmedabad hovers around 8%, surpassing the national average of 6.5%. Even the residential segment offers promising rental yields, typically ranging from 3% to 4%, depending on the location and property type.

Ahmedabad's ascent as a preferred destination for property investors is no mere coincidence. The city's potential for future growth, coupled with its high quality of life, positions it as a compelling choice for those seeking real estate opportunities. If you're considering an investment in Ahmedabad, you can explore a multitude of options with Kunvarji Realty, a name synonymous with trust in Gujarat’s Real Estate Market. Additionally, stay informed about the latest market trends and insights through us. Happy investing!