Sluggishness Remained a Dominant Phenomena for Properties in Ahmedabad in 2013

Ahmedabad Property at Makaan.com

The city of Ahmedabad has been ranked second in terms of affordability factor; the city has left metros like Mumbai, Gurgaon, and Delhi far behind in terms of inexpensiveness. A 1000 square feet of land costs Rs. 50 lakh, a figure which is far below the value in other metros. As far as real estate trends in 2013 are concerned, the market in this commercial city saw sluggishness. This was attributed to economical crisis and depreciating value of rupee as against dollar.

The trade gurus have predicted that there are only a slim chances that residential property at Ahmedabad shall see any considerable appreciation in rates. While Delhi Mumbai have seen high escalation, this city of Gujarat nowhere stands near them: a raise of 20-25% is hard to contemplate. The rental rates too have not seen any worthwhile appreciation. The snail-like pace is also attributed to the decline in interest of the investors in real estate here. As they can't hope of good gains, they are keeping themselves form making an investment . For NRIs, it is no longer a lucrative market. 2013 witnessed only a nominal number of inquiries this year. Many of them have also reduced their budget to around 50-70 lakhs.

But all is still not lot. Ahmedabad properties are at a leverage as far as their potential to grow is concerned. The city leads in retail, IT and education sectors; this factor plays a crucial role in determining the demand  of living spaces in both commercial and residential sectors. To add to this, a number of infrastructural developments going on are expected to  be good for real estate market. The upcoming Metro Rail Express Gandhian-Ahmedabad(MEGA) project is to be reviewed and revamped this year. AUDA(Ahmedabad Urban Development Authorities) is a development plan that was declared only recently.

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