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Ahmedabad real estate sector has always been impressive and is mainly an investors market. In spite of the city has many modern architectural projects lined up, it still hasn’t lost its old world charm and warmth. The landscape of the city is a melting pot of both old and new. Being an investor-centric market, the sellers and builders respond to the demand of the people through offers and discounts. There has been a huge growth in the supply of luxury housing.
Gujarat's realty hub and a big industrial city of India, Ahmedabad, also known as the Manchester of East is a rapidly flourishing metropolitan city. Availability of numerous employment opportunities is making it one of the most populated cities of the state.
Increased flows of investment by NRIs, migrants working in industrial sectors and non-resident Gujaratis spurt residential property market in the city. Since the city is on the path of infrastructural progress, investments in realty market seem to be an attractive proposition and thus, people invest fairly in these markets.
Among the widely demanded properties are 3, 4 and 5 BHK apartments, villa or Bungalows. Places like Maninagar, Prem Nagar, Sola and other sectors on the SG highway with average property price prevailing between 25 lacs – 40 lacs are in huge demand by home buyers. Leading suburb markets such as Bhopal, Ambli, Satellite, Prahlad Nagar, Paldi Shilaj, Vastrapur, etc are fast emerging to be the upscale residential destination.
These areas are witnessing rapid transformation due to development of IT SEZ, ports, GIFT city, and metro rail links, significantly adding to boost the real estate sector. Besides setting up of infrastructure for Ring Road system, electricity supply, and BRTS corridor developmental activities, the plans for launching a bullet train between the city and Mumbai set Ahmedabad on the fast track to growth. Commercial real estate market is expanding with the addition of 20-40 lakh sq. ft office space in the financial year. Ongoing developmental activities inviting new ventures to the state's commercial capital have intensified the scope of growth in the city. Many leading real estate developers are bringing projects to absorb increased demand for office space and residential spaces in Ahmedabad.
Owing to its unique global positioning close to the Maximum city Mumbai, Ahmedabad has eventually emerged as a crucial center for residing as well as earning in the west of the country. According to market analysts, the future of this city is very bright with flourishing real estate and jobs markets.