The Ahmedabad Property Bubble Dripping Slowly

Ahmedabad Property at Makaan.com

With the news that the property bubble is swelling to its maximum in Ahmedabad, the predictions that it would soon burst too are circulating the circuit. The city followed Delhi and Mumbai trends in exorbitant price rise, thanks to the developers alleviating the rates to pocket more profits. The obvious result of this is that locating an affordable property at Ahmedabad has become problematic for a middle-class buyer. This resulted in downfall in demand and so, the demand-supply ration lost its balance. At present, there are localities where there are no takers for the properties built under world-class names. This will soon rupture the bubble and the price correction would indeed take place.

As a common buyer is not interested in getting hold of the inordinate Ahmedabad properties, several larger-than-life SEZ projects have come to a halt. This has already started pricking the bubble and it would soon puncture. Thogh the prices are still on a high in localities like Vejalpur, Satellite, Bodakdev, and Vastrapur, the overall rate in the city has noticed a decline of about 2% over last one year. The real estate developemnts are more prominent in the western region that includes localities like Bhopal and S.G. Highway.

The rates are touching a high in hot localities: in Satellite, the price rate stood at Rs. 4879/ sq. ft. and in Bodakdev, it is Rs. 5203/- this July. With a lower value of Rs. 3195 psf, Vejalpur can be seen as an affordable property at Ahmedabad. In the first quarter of 2013, a multitude of affordable apartments have been launched by some well-known developers; the new launches are seen in localities like Vastrapur, Satellite, Thaltej, Ranip, Naroda, Narol and Ashram Road. With the recent interest of some renowned names like Tat Housing, Godrej, and Adani initiating low-cost developments, the buyers from middle-class segment can now take a sigh of relief.

In spite of not-so-favorable trends in the city, buyers are still looking it as an investment option: the dearth of space and over-congestion in other metros has brought it to the limelight of people on the look out for property.

Over India's leading real estate portal, Makaan.com, buyers can look for properties for buying/renting/leasing. The properties from leading cities with an array of prices and amenities have been listed here.