Ahmedabad Property Rates

Location	Residential (Rs/Sqft)	Commercial(Rs/Sqft)
Ellisbridge	900 - 1400	2200 - 3700
Ashram Road	1100 - 1350	2500 - 4000
Navrangpura C.G.	1250 - 1600	2500 - 5000
Navrangpura	1000 - 1400	2000 - 3000
Naranpura	700 - 1000	1300 - 4000
Vastrapura	600 - 800	1400 - 2400
Satellite Road	750 - 1200	1100 - 5000
Ambawadi	700 - 1100	1300 - 2000
Drive-in - Road	600 - 800	1200 - 4000
Paldi	700 - 900	1200 - 3000
C.Girdharilal Road	700 - 900	2200 - 5000
Usmanpura	750 - 900	2500 - 4500

Commercial Property in Ahmedabad

Office Space:

• Investment options in Ahmedabad commercial property include property for office space, retailing, hospitality and many other options in all ranges and categories. Ahmedabad has excellent prospects for growth and real estate appreciation. Real estate, retail and financial services are seeing favorable times in Ahmedabad. Most leading private banks and nationalized banks have branches in the city.

• The BPO (Business Process Outsourcing) boom in Ahmedabad and Gandhinagar is fuelling demand for commercial properties in Ahmedabad like never before. Promptly following in the steps of BPO hubs like Pune and Bangalore, Ahmedabad is all set to fulfill the office space needs of MNCs who plan to set up shop here. Cheap real estate prices have become a boon for some 40 small and big BPOs already operating in the city. For instance, Mphasis BFL Ltd has leased 10,000 sq feet of office space.

• The rates if compared will give a clearer picture of the modest prices prevailing in the city. The capital value for office space in Ahmedabad is in the range of Rs. 1,200 to Rs. 4,000 per sq. ft which is up for Rs 1,200 per sq ft. In comparison, similar spaces will between Rs 2,000 and Rs 3,000 in Pune and anywhere between Rs 3,000 and Rs 5,000 in Bangalore. The yield on investment hovers around 10%-13 % for officespace.

Retail Space:

• Ahmedabad figures among the top five Tier II cities in spending power and retail potential. The value of retail space in Ahmedabad varies from Rs. 5,000 to Rs. 10,000 per sq. ft and the The yield on investment hovers around 12%-14 % for retailing.
  

• The city has become a focal point for retail activities. Big retail chains like Star India Bazaar, Shoppers' Stop, Big Bazaar and Pantaloons are entering the retail market in Ahmedabad. Apart from this, a number of international brands have shown interest. Retailing is very much on the upswing with the highest number of malls and multiplexes in the country located in Ahmedabad.

• SG Highway is the main commercial hub. There is frantic construction work underway for more supermarkets and big malls. Max Lifestyle has also taken up space. Local players such as V-Mart are expanding. Pantaloon group has chosen Ahmedabad for opening more than one Big Bazaar outlets. Big Bazaar works along the same lines as the economy model pattern of Wal Mart.

• IT giant Acer has opened three new malls in different areas of Ahmedabad with the partnership of leading IT hardware companies, Drupa Electronics, Source Communication (Karnavati Infotech) and Balaji Infotech. The move will ensure better outreach and comprehensive product knowledge and convenient access to the consumers.

Residential Properties in Ahmedabad

Real Estate Ahmedabad comprises flats, apartments, serviced apartments and bungalows, penthouses and townships. Small residential developments with bungalows schemes or apartment complexes are common. There is also a lot of demand for low-rise premium property.
The size of the residential market in Gujarat makes it the best time to invest in real estate in the city. From the previous year, property prices in Ahmedabad have increased by 10%-15%. Going by the number of bungalows and apartments being planned, Sola Road, Vadaj, Ghatlodia, and Gandhinagar are going to be hotspots residential properties in Ahmedabad.
Areas like Sheila, in South Bopal, and Ghuma, beyond Bopal are apparently good for bungalow schemes.



New Age Township projects in Ahmedabad

• There is a new found craze for setting up township projects in Ahmedabad. Areas around Ahmedabad towards Gandhinagar are also up for grabs. The Adani group is planning a Rs. 2000 crore plus mega township near Nirma University on SG highway. Other players eyeing the real estate market pie are also big names like DLF, K Raheja Group, Unitech, Parsvnath and some others.

• Ahmedabad residential real estate with new kinds of planning is becoming a trendsetter of sorts. A golf housing community project situated close to the Nal Sarovar Bird Sanctuary will be the first of its kind. The 600 acre Kensville project will have residential plots on the fairways. The Sahara Group has recently announced an integrated township project a shopping mall, multiplex, hospital, post office and petrol pump. It will offer eight categories of flats with the prices varying from Rs 5 lakhs to Rs 37 lakhs.

• Moreover, the capital value on offer for residential properties in Ahmedabad is fairly low, reasonable and affordable in comparison to other Tier II cities in India. The rates vary from Rs. 600 per sq yd to Rs. 1100 per sq yd for plots ranging from1000 sq yd to 3500 sq yd. The prices are amazingly low. A 4-BHK apartment with Jacuzzis, shower cubicles, air-conditioned foyers, gyms and terrace gardens with lawns commands Rs. 70 lakhs in Ahmedabad.

• The upmarket locations in Ahmedabad have prices lower than what would match their snob value. Even apartments under construction are giving a 20% appreciation in two months. The current average rate for residential property in Ahmedabad is Rs. 1400 per sq ft to Rs. 2000 per sq. ft. A smaller budget will mean Rs. 1000- Rs.1500 per sq ft for a 3-BHK apartment.

• NRIs with post retirement plans to return to India can now have better reasons to invest in Ahmedabad rather than in any other Indian city when they complete their stint abroad. Ahmedabad real estate also calls for investment plans at a reasonable price away from home. Mostly NRI buyers who have been bought into the idea of second home on a visit to Ahmedabad after a long time.

New standards

• The growing trend for demand in residential properties in Ahmedabad has encouraged many developers to invest in the city. Developers like the Heritage Group have projects of all kinds including bungalow schemes and farmhouse schemes and have plans for service apartments as well to serve IT parks.

• There are promising collaborations taking place. Adani, for instance will work with Ahmedabad-based Ashima group's Saumya Constructions on a 200-hectare integrated totally self sustaining township project called Shantigram. The township is slated to be a mix of apartments, individual bungalows, shopping malls, offices and entertainment complexes complete with facilities like a civic centre, golf course, cricket ground, a recreation club, hotels, restaurants hospitals, schools and a couple of higher education institutions.

• With growing investment opportunities Service Apartments has come to be seen as a better and affordable alternative to a hotel room for those traveling to Ahmedabad for vacation or for work. It offers the comfort of home without the hassles involved in getting utility connections, furniture purchases, maid services and expensive rental deposits.

Latest Real Estate Projects in Ahmedabad

Ahmedabad is known for its spending power and retail potential. It is abuzz with retail activities. Pantaloon Retail is planning to open its fifth central mall in Ahmedabad by 2009. Its retail chain, Big Bazaar will set up 12 more stores there. Pyramid Retail has signed up for property here. Liberty Shoes has set up Foot mart Retail and is opening its flagship store in Ahmedabad.

1) Ganesh Housing Ltd., which has constructed the first ever project to have earthquake resistant scheme plans to set up an IT park for Rs. 700 crore. The company which has a research and development team to analyze traditional and new technology has introduced Wi-Fi enabled 'Smart Homes' with digital security and solar passive architecture.

2) Multiplexes have been dotting the landscape of Ahmedabad. There are major projects under implementation. City Pulse will come up on a proposed area of 10 acre in Maninagar, a new development that has come up adjacent to the old city area on a lake.

3) Major builders in the city including N.G Developers, Navratna, BGP Builders and Saumya Constructions have their hands full in commercial projects. Other players looking at reaping the benefits in the real estate market are also big names like DLF, K Raheja Group, Unitech, Parsvnath and some others. Construction giant DLF is investing in a project that has been identified for urban infrastructure development in the city along with the Sabarmati riverfront project and integrated public transit system.



4) The Adani group is planning a Rs. 2000 crore plus mega township near Nirma University on SG highway.

5) Ahmedabad with new kinds of planning is becoming a trendsetter of sorts. A golf housing community project situated close to the Nal Sarovar Bird Sanctuary will be the first of its kind. The 600-acre Kensville project will have residential plots on the fairways. It is not very highly priced. The rates vary from Rs.600 per sq yd to Rs. 1100 per sq yds for plots ranging from 1000 sq yds to 3500 sq yds.

6) Architect Hiren Patel is involved in a project called Vraj gardens which will have private farm houses and bungalows with customized designs. The project aims to incorporate landscaped gardens, extensive water features, gazebo seating outside, glass corridors between rooms and other features.

7) One of the projects of Heritage Group called the 'Heritage Skies' is being designed by architect Hafeez Contractor. It will create new point of reference for real estate in Ahmedabad in terms of detailing and certain other features. The Heritage Group has projects of all kinds including bungalow schemes and farmhouse schemes. A lifestyle community is being developed with 300 bungalows

8) The most talked about Niho's Scottish Mall will be spread over an area of 4.5 lakh sq ft. at a cost of Rs. 180 crore. The proposed exhibition cum convention center at Ahmedabad would involve investment of $9.2 million, which will further boost commercial activity in the city.

Real Estate Trends For NRI In Ahmedabad

Real Estate Trends For NRI

The Gujarat government envisages Ahmedabad as a world class city. In pubic-private partnership, it is looking to upgrade the city to make it, clean, viable and self sustaining.

Better acknowledged to be the capital city of the state of Gujarat, Ahmedabad is the seventh largest metropolis of India. A city more popular for its industrial background, it is growing and new areas in the outskirts are becoming well off suburbs. This makes Ahmedabad a real place of growth.

Ahmedabad is fast flourishing into a popular choice for foreign direct investments (FDI) such as joint ventures and real estate investments. Although, the transformation of the city is slow and steady but the past few years have witnessed major industrial development. The cost of living in the city is still lower than may be in other metropolitans.

With an improvement in its infrastructure and facilities, it is no wonder then that many new ventures are looking forward to the city. This may serve as a decent investment option for NRIs pondering over to yield good returns in near future, as the real estate prices in Ahmedabad are sure to take a jump.

The construction activities and new real estate projects in Ahmedabad have pushed property rates to new highs. As a location for property investments, Ahmedabad certainly has good prospects in store for prospective investors with a fair share of risk and this might be one of the key reasons for investments being marginal.

Ahmedabad enjoys a very strong connection with Gujarati NRIs, whose spending power and industrial skills have encouraged a healthy shift in property rates of late. Ahmedabad commercial real estate is still on infant stage and is developing in and around C.G Road and Ashram Road, along with the old city area. Staying in step with demand, the present supply of commercial space is determined to be 0.3 million sq. ft. with an absorption rate of 60-65%. However, the market is expected to zoom in the wake of new construction activities.

This commercial city of Gujarat is likely to grow by leaps and bounds in the next few years. The old city area and Sahibag, located north of it, are regarded as the old residential areas. Western side of Ahmedabad is gaining popularity as new residential areas, between Inner ring road and C.G. Road, such as Bodakdev , Satellite, Vejalpur, Jodhpur, and Vastrapur.

Real Estate Development In Ahmedabad

Real Estate Developments In Ahmedabad

Ahmedabad is proving to be an ideal city for acquiring residential and commercial property due to excellent infrastructure that the city has and the kind of facilities it offers. The Center's announcement that it will invest Rs. 5,500 crores across seven mega cities in the country of which Ahmedabad is a major development. Gujarat Institute of Housing and Estate Developers has shown keen interest in promoting Ahmedabad as an investment destination.

Ahmedabad has high affluence and several real estate developers in Ahmedabad, brands and organizations are setting their sights on them. There is a strong sentiment for real estate investments; Ahmedabad presents excellent prospects for growth.

Since the declaration of Ahmedabad as a mega city in the last Union Budget the real estate activity has gained momentum. The recent real estate trend in Ahmedabad is inclined towards residential, commercial including retail activities. With 80 per cent of the urban population of Gujarat, housing large corporate and state and district level public offices, Ahmedabad has been ranked the seventh highest in Market Potential Value (MPV) among all the 784 cities in India.

The western parts of the city are thriving areas for residential properties in Ahmedabad. The integrated townships are the norm; major players like Sahara Group, Adani Group to name a few are launching them. The one being developed by Sahara will house a shopping mall, multiplex, hospital, post office and a petrol pump.

Areas in Ahmedabad which have seen improvements in roads and public transportation and other infrastructure are coveted areas for real estate activity. Bungalows and apartments are coming up on the new four-lane road developed from S.G Road to the new Sardar Patel Ring Road. The high-end residential properties in Ahmedabad are investor-driven.

All of these developments bode well for real estate investing and selling, buying and leasing. Ahmedabad real estate scene is open to trying out new models including mixed use developments and service apartments. The total investment in malls over the next couple of years is pegged at Rs 700 crores.

A number of retail players like Star India Bazaar, Big Bazaar, Shoppers' Stop, Pantaloon and West Side; including international brands are eyeing the Ahmedabad market for its retail potential.
Ahmedabad offers great infrastructural base and excellent opportunities for commercial purposes.

Godrej to put Rs5000 crore into Ahmedabad

Ahmedabad: Scores of affordable homes, costing about Rs25 lakh each, may soon settle in Ahmedabad, in what could be the most ambitious business foray the city has ever seen.

The homes will be developed as part of a Rs5,000 crore project --spread across 300 lakh sq ft -- planned by Godrej Properties, a real estate vertical of the Godrej group. Adi Godrej, the Godrej Group chairman, said that the construction for the project would begin soon.Industry experts believe that when the project materialises, it will be the largest ever of its kind in Ahmedabad. Till now, the Rs1,000 crore residential project of the Sahara City Homes represents the city's biggest township project.

Godrej, who visited the city to preside over the Nirma university convocation, told DNA, "Considering the demand for affordable homes in Gujarat, Godrej will develop a huge residential project." He said his company had signed an MoU with the state government for the project during the Vibrant Gujarat summit.

Godrej said the project would incorporate commercial and retail complexes. "We will go for private land acquisition and ensure that the project will come under the Ahmedabad Municipal Corporation (AMC) area between Ahmedabad and Gandhinagar," Godrej said.

In the Vibrant Gujarat Summit 2009, the company had signed an MoU for developing integrated mixed-use township project in Ahmedabad. "We want to offer houses for around Rs25 lakh," Godrej said. As for the funding for the project, Godrej said, "Most of funding will come through bookings and the rest will be financed through internal accruals."