New Projects for Residential Property in Ahmedabad

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Ahmedabad, India's 5th largest city, recently topped the list of the youngest buyers in market. According to statistics, among the population earning less than 10 lakh, more than 60% accounts for those who are keen to make a home purchase. This is a clear indication of the fact that the city's realty market is on an upswing. Though an 8% fall has been noticed in launch of individual residential units, the number of projects launched has increased appreciably. Most of the Ahmedabad housing property launches have been towards budget segment, as the demand mainly comes from that sector.  Among the areas that have seen maximum growth patterns are Vasna, Thaltej, Makarba, and Ranip.

Currently, a number of new projects have been launched. ISCON Platinum is Bopal is a 3-5 BHK residential project. It offers units in 1900-5700 sq. ft. are segment. Another project for property at Ahemdabad is by Devenandan Builders over Motera. Named 'Infinity', the project has been built over 3 blocks of 2 & 3 BHKs. The units have been developed with an area varying between 1300-1700 sq. ft.

Dharmadev, another prominent builder to buy property in Ahmedabad, has come up with affordable housing project at Vasna. The 2 and 3 BHK units priced in 17-34 lakh range shall be available for possession by December, 2014. Sambhav Infrastructure has launched its 'Stavan Ample' project at Gota. 2 BHK flats have been priced in the budget 29-32 lakh price bracket.

Explore Indian properties sites to know more about new residential projects launched across city.

Properties in Ahmedabad: On the Road to Development

While 2013 remained a 'down in dumps' year for Ahmedabad real estate, New Year is like a whiff of fresh year for its buyers. The city is witnessing a number of  infrastructural developments across different localities. One such development that is under consideration is the construction of  Mumbai-Ahmedabad high speed corridor. A route of 535 km and a journey of two hours shall be covered by means of  bullet trains, running at 320km/h. Such a project, when comes into picture, shall lessen the distances  between two states considerably.  But this is not the only major development that the city shall be seeing in near future. There are more in pipeline.

Another important development that is going to benefit the occupants of residential properties at Ahmedabad is establishment of basic civic amenities in newly developed towns. Such a step shall play a vital role in integrated town developments in the city. Lately, localities like Bopal, Narol, Sanand and Vejalpur have emerged as the colonies with high rate of residential development. Unlike previous times, the introduction of civic amenities shall be a great relief to the occupants.

Yet another development that is on cards is the establishment of 12 multilevel parking complexes. This step taken by Ahmedabad Municipal Corporation (AMC) is going to solve parking issues that arise due to lack of space. This multilevel parking is Ahmedabad properties shall include introduction of health and sports clubs under  flyovers, thus making good use of the available space.  The BRTS network shall be covered under Wi-Fi system, allowing people to remain connected all the time. AMC has also announced halving of the tax on rented properties. The authority has exempted different types of hospital taxes. This shall come as a big relief to tenants who had to spend on paying these taxes.

Sluggishness Remained a Dominant Phenomena for Properties in Ahmedabad in 2013

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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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Rates of 2 BHK Properties in Ahmedabad

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Unlike so many metros like Delhi, Mumbai, Gurgaon, and many more, Ahmedabad is a city where ones can look forward to the affordable residential houses. In most of its parts, the city offers homes that cost far lower than in other cities. Let us see the example of 2 BHK homes in its different colonies.

Two room property at Ahmedabad in eastern localities like Maninanagr, Ghodasar, Odav, Naroda, and Saraspur are available for buying in 15-20 lac range. Towards the higher end, however, the rate may touch 60 lacs; for example at Ghodasar, a 2 BHK house can cost up to 55 lacs. At Ranip, such a house comes at around 30 lacs. One of the costly localities in east is Shahibaugh: to buy a two room apartment here, a buyer may need to pay as high as 85 lacs.

In North, the rate of Ahmedabad real estate properties, for two room houses generally varies between 20-25 lacs. At Motera, New C.G. Road, Naroda and Chandkheda, such an apartment is available within this range. At Motera and Chandkheda, the higher rates, i.e. up to 40 lacs are also available for the buyers. At Ring Road, and Ranip, the prices are centered around 40-45 lacs.

In city-center, most of the colonies are costlier, as compared to other regions. The lowest prices of a two -room house starts at around 40 lacs: Gandhi nagar and SG Road are the twin localities where such rates are prevalent. However, in satellite, Vastrapur, an Drive in Road, the available range that is prevalent lies between 45-70 lacs. In South, the prime localities are Vejalpur and Gota. At both of these, two-room apartment can be purchased at an average value of 30 lacs.

Satellite, Vastrapur, Vejalpur are the plush localities known for well-developed infrastructure and presence of several business centers. These colonies have also witnessed good growth in IT sector; hence are responsible for generating good employment opportunities. 

Rates of 2 BHK Properties in Ahmedabad

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A home to textile mills and pharmaceutical companies, Ahmedabad is one of the budget localities to buy a 2 BHK house. The city ranking among the biggest creditors that contribute to Indian economy, keeps its head high, as far as, infrastructural development is concerned. It is also an important center for automobile industry. But, unlike other tier-1 cities like Delhi or Mumbai, it has not undergone mindless escalation in realty market. This can be seen form the fact that property in its several parts still wears the tag of 'affordable'. Analysis of the rates of 2 BHK residential properties below indicates that it is still under the budget of the buyers.

Consider a two-room property in Ahmedabad. Most of the buyers expect to make a buy of 2 BHK staring from around 20 lacs. And there are indeed several localities where a flat for buying is available at a price beginning at 20 lacs or even less. A few names worth mentioning here are Gota, Gandhinagarm Motera, Ghodasar, Maninagar, Vejalpur, S.G Highway, Naroda, Narol, Vastra, and Odav. At Vastra and Naroda, the rates are quiet low: the starting price falling in the range 10-15 lacs.

Noe consider the localities where the rates are a bit higher, i.e. two-room Ahmedabad housing properties falling in the range 20-30 lacs. Bopal, New C.G. Road, Vastrapur, Makarba, Satellite, Bodakdev, Chandkheda, C.G.Road, Vasna, Ambawadi, Anand Nagar, Thaltej, Nehru Nagar, Kanaria, and Shahbaug. The upper limit in these particular area too is variable, depending upon how developed the colony is and how is it fairing in terns of residential properties. The uppermost range varies between 35 lacs-70 lacs. For plush colony like Satellite, however, the property rate can be as high as 3.25 crore. The still costlier localities form a 2 BHK purchase include Gurukul, Ramdev Nagar, Pladi, Naranpura, and Mem Nagar: beginning at a price above 30 lacs and going as as high as 1 crore.

The maximum for 2 BHK flats in city are dotted in colonies like  Satellite, Maninagar, Gota, and Prahlad Nagar. These areas are doing very well in terms of IT development.

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