In recent times Ahmedabad has emerged as an upcoming, well-rounded city of India that offers good quality of life. It has been selected as one of the 100 Smart Cities by the national government and there is an increase in industrial development in localities such as Sanand, which is fast becoming a hub for the automobile sector. According to recent reports, the sale of residential properties is booming too, with an increase of over 10% in the financial year 2017–18.
In addition, 1.5–2% migration to Ahmedabad and the growth phase that the property market is in making it a good time to invest here. Here’s a closer look at why you should consider Ahmedabad.
Development of new industrial hubs
With industrial developments such as the one at Sanand, the city of Ahmedabad is growing by leaps and bounds with scores of new industrial zones. As more such industrial parks come up around the city, more people will move here and the demand for housing and support infrastructure will increase further. So investing in a 2BHK flat in Ahmedabad now makes sense as you can expect it to appreciate in the near future.
While there is a lot of activity in the affordable housing market, luxury homes are also seeing good demand with many new projects like Samarth Stanza, Kishor Park, Savvy Studioz many more. If you too are looking to invest in a high-end apartment, consider posh areas such as Thaltej and Satellite.
Smart City advantage
Being selected as one of the 100 cities to be developed into a Smart City is providing Ahmedabad with a boost. You can expect the city to use technology and systems to provide a more comfortable living experience while ensuring amenities such as water, power, sanitation, public transport, education and healthcare are well managed create minimum wastage. So if you seek a better quality of life, investing in a home in Ahmedabad makes for an excellent choice.
While the infrastructure is expanding and so is the housing market, at present Ahmedabad has a host of areas that are already known as good residential localities. Take a look at what they are.
- Shahibaug, located on the eastern corridor, is a developed and well-planned area of the city with a variety of residential properties to choose from.
- Areas in north Ahmedabad such as New Wadaj and Sabarmati are also a good choice as there is rapid development taking place along the Sabarmati river.
- Locations along the SG highway such as near Nirma University also boast of good projects such as Pacifica Reflections which offers facilities such as a swimming pool, kids play area, intercom, clubhouse and rainwater harvesting.
Affordable options for first-time investors
With attention from all quarters, Ahmedabad is witnessing a rise in affordable housing options as well, especially in areas like Bopal, South Bopal and Chandkheda. Along with a government push, established real estate players such as Tata Housing, Adani Township and Real Estate and Arvind Real Estate are also starting their own developments in this region. As a result you can expect to buy a 2BHK flat in Ahmedabad for less than Rs.30 lakh, making it ideal if you’re buying your first home.
For additional help with finding the right home, in-person assistance for site visits, availing a loan and organising documents, consult Home Loans by Bajaj Housing Finance Limited. It’s your one-stop solution to making a smart real estate investment.