Evolution of Ahmedabad Real Estate
Arunima Nair
- 8th Mar 2019
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Do you consider yourself a potential property investor?
Are you looking to move? Probably to a city that welcomes you with its best assets?
Being honest about real estate investments, it isn't as simple as it may seem, but we could help you make up your mind quicker with easy steps to guide you.
Every potential homebuyer has hundred queries on their mind when investing their money in a property in a specific locality.
For instance..
Is the project safe to invest in?
Is the price right?
Is the seller genuine?
What’s the background of the city that I am thinking of investing in?
All these questions can get over bearing after a point and cannot be answered to, in one go on any real estate article. However we try to answer some of the frequently asked questions for homebuyers looking for investing in the Ahmedabad real estate market.
So now all you’ve got to do is to sit back and relax while we guide you through this article.
First let's take a quick peek into the history.
Ahmedabad commonly known as Amdavad in gujarati, was founded on February 26, 1411 by Sultan Ahmed Shah to serve as the capital of the Gujarat Sultanate, and was named after him. A military cantonment was established under the British rule and the city infrastructure was modernized and expanded.
In 1960, with the establishment of the state of Gujarat, Ahmedabad gained prominence as the commercial capital of the state. The city is witnessed a major construction boom and population increase since then. It is said to be a rising centre of education, information technology and scientific industries, Ahmedabad remains the cultural and commercial heart of Gujarat and much of western India.
The architectural history of this city can easily stretch across the last millennium. Hindu craftsmanship fused with the Sultanate and Islamic architecture, gave rise to the Indo-Saracenic style.
Now that we have an idea about its history, let’s look into the frequently asked questions about Ahmedabad
Q: Why is it a good idea to invest in Ahmedabad?
● A perfect representation of modern and traditional
The booming real estate market in this bustling city has something for everyone. With numerous projects, you can choose from 1 BHKs, 2 BHKs to premium villas, and that too in your budget range.
A wise choice, Ahmedabad has abundant new-age projects that meet all the set guidelines for the realty market. Also, the above reasons make it one of the best cities in India. If you plan to invest money in Ahmedabad, it is time to materialize your dream.
Q: Which are the most popular real estate pockets of Ahmedabad?
Bopal, Chandkheda, SG Highway ( near the Vishnu Devi Circle and near the Nirma University) and Gota are among the majorly popular real estate destinations which have the highest of demand.
Q: What is the average property price for 1 2 3 AND 4 BHK respectively in Ahmedabad?
A homebuyer/investor can purchase a 1 BHK property in Amdavad for a starting price of Rs 17.50 lakhs while a 2 BHK property will cost around Rs 33 lakhs. The 3 BHK property could start from as much as 72 lakhs and more where as a 4bhk can go up to Rs 1.74 crores. If you are looking for further higher configurations within a property the average prices could as far as Rs 7.50 crores.
Q: Which are the best localities to buy a house in Ahmedabad to be put on rent ?
Business areas naturally fare well whereas for the working professionals areas like the Chandkheda, Motera, Sarkhej, near SG Highway, and others like Thaltej and Vastral, are quite popular. There are more than 11,400 properties available on rent in Ahmedabad and the rental range varies from Rs 5,000 to Rs 1.50 lakh each month.
Q: How has the average rate of property in Ahmedabad real estate market changed over the course?
We can answer this better with the help of a graph check it out below (the average market price changes from 2009 to 2019) in Ahmedabad.
Q: How will RERA Ahmedabad help?
The Real Estate Law made sure that every Indian state (except Kashmir) should have a state real estate regulatory authority in short - (RERA).
The city Ahmedabad falls within the regulatory authority of Gujarat. In the absence of a structured marketplace, the RERA aims to make home-buying easy, systematic and transparent. The authority displays the details of the project and developers on its website while the homebuyers can make their decision.
Since it is also an enforcing authority, it also passed a circular which made clear that defaulting developers would have to pay a penalty.
Such a provision ensures that a developer is rolling out a legal and a safe project into the property market hence you can now easily get access to the best RERA-compliant project and a registered agent.
Q: Where can one find affordable housing destinations in Ahmedabad city?
If you are looking at a property as much as Rs 50 lakh or less then you may want to consider localities like Bopal, Chandkheda, Gota, Makarba, Sanathal, SG Highway, Shela and Thaltej, does not affect the connectivity, Ahmedabad works smooth in such matters.
Q: What about plotted developments in Ahmedabad?
If you are planning to make investments in plots, there are more than 100 different projects to choose from. The price starts from Rs 4.6 lakh and goes up to Rs 72 lakh depending upon the size and location of the plot. You may want to consider Bavla, Bholad, Changodar, Dhokla, Dholera, Fedara, Kamiyala, Mandal, Mankol, Nalsarovar, Nava Naroda, Rethal, Sachana, Sanand, Shilaj and Vataman, for plots
Disclaimer: The views expressed above are for informational purposes only. We do not guarantee the accuracy and completeness of the information and shall not be held responsible for any action taken based on the published information.
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