Ahmedabad is among the top 10 cities to reside, invest and earn, according to a study conducted by Indicus Analytics. The city enjoys strategic location advantage of proximity to Mumbai. Going by the ever growing construction of skyscrapers, shopping malls and multiplexes, the city is moving on fast.
Skilled labour, availability of land, quality real estate, low operational costs, good connectivity and entrepreneurial culture are the city's strengths.
The Metro Rail Project is being planned with private sector participation. There are plans for upgrading the highway under a build, operate and transfer scheme. An arterial road network of 155 kms has been identified for Rs 950 crore Bus Rapid Transit System (BRTS) in Ahmedabad.
Residential real estate
With the industrial and commercial growth in the city, demand for residential property is increasing. The residential capital values in city are around Rs 1000- 3000/ sqft.
The rental values across Ahmedabad's localities have grown on an average by 100% in the last 3-4 months. Suburban and peripheral locations like Bopal, Ambli, Shilaj, Satellite, Memnagar, Vastrapur, Prahlad Nagar, Vasna and Paldi are the upcoming residential development zones.
Commercial real estate
The demand in commercial segment is fuelled by retailers and corporate houses, mainly private banks and stock broking firms. According to media reports, an astounding 25-40 lakh sqft of office space is expected to be added within a year.
Also the entry of retail giants such as Pantaloons, Reliance has led to an increased growth in the retail arena. A lot of new mall projects are coming up in the city. The hot areas for commercial development include Prahladnagar, Ashram road, C G Road, S G Highway and more.
Ahmedabad is fast flourishing into a popular choice for foreign investors. The cost of living in the city is still lower than in other metropolitans. With an improvement in its infrastructure and other facilities, it is no wonder that many new ventures are looking forward to the city.
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