Ahmedabad’s real estate market has witnessed a rapid pace of development compared to other cities in India, and this is mostly driven by the high rate of industrial growth, as stated by a professional services and investment management firm. Quality infrastructure, highly competitive real estate costs, along with a robust law and order system make Ahmedabad a desirable residential and business destination.
Some Important Facts about Ahmedabad
- Ahmedabad stands No. 1 among Tier 1 cities due to rapid industrialization and infrastructure development.
- BRTS has improved overall connectivity.
- Several expressways pass through the city, such as Nh-8, 8A, 8B, and 8C, all part of the DMIC.
- The Ahmedabad-Vadodara Expressway that connects two vibrant economies in Gujarat: Ahmedabad and Vadodara.
- No other expressway in Gujarat is as strategically positioned as this highway, which has led to the flourishing of big-ticket corporate houses along this stretch, contributing to the region’s growth and, in turn, the Realty sector
- The under-construction GIFT City is located about 12 km from Ahmedabad International Airport
- The City has ample employment opportunities, social and civic infrastructure, and most importantly, capital values here are lower than those of many tier 1 Cities.
The Bus Rapid Transit has given a facelift to the outskirts of the city. There is also a plan to increase FSI and have a transit-oriented development along the BRTS corridor. These will further boost economic activity in this city. The City also has the Sabarmati riverfront project, which plans to provide large open spaces for public use. In addition, there is a proposal to connect Gandhinagar with Ahmedabad using the metro system. This is expected to increase real estate prices along certain sections of the metro corridor between Ahmedabad and Gandhinagar. Apart from the proactive development approach of the government and local authorities, Ahmedabad has another advantage — the cost of living is relatively lower compared to other large cities of India.
The residential real estate market in Ahmedabad is diverse. Residential units in the affordable category are available alongside houses and apartments in the ultra-luxury category. The advance retails landscape of the city also contributes to the residential real estate value. The GIFT City (Gujarat International Finance Tech City) that is proposed to be developed as a smart city, is also giving a fillip to the real estate value of the city. Ahmedabad has quality public transports inform of BRTS (Bus Rapid Transit System), and the best part is that Ahmedabad Bus Rapid Transit is the most successful in the country.