Growing Investment Opportunities in Ahmedabad

Published: 26th January 2010
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Ahmadabad is one of the fastest growing tier II cities of India. It is the commercial and cultural hub of Gujarat that is developing with the growing industrialization in the region. Known for its traditional textile industry, Ahmadabad is now becoming a centre of academics and IT and other industries. It is undergoing umpteen changes with varied developments in real estate and construction sector in the city. The boom in real estate is transforming the skyline of the city of Ahmadabad.



Ahmedabad is also popularly called 'Manchester of the East' for its thriving textile industry. But it is also identified with architectural delights as it is a wonderful fusion of both Hindu and Muslim architectural ideals. It is now generating state-of-the-art designs for residential, commercial and industrial properties like houses, retail shops, office buildings, etc. The city is also witnessing infrastructural developments in the form of flyovers, roads, etc.



The real estate developers of Ahmadabad are undertaking construction of various residential townships, glitzy malls and office spaces. The honchos of real estate like DLF, Unitech, Raheja Group, etc have also been developing various construction projects in the city. Developers like Saumya Constructions, N.G.Developers, Navratna, BGP Builders, etc are creating high standard residential buildings. Even a major player like Reliance is considering commercial development plans in Ahmedabad. The government is further encouraging various kinds of mini townships like Technology parks, medical and health care townships, logistics parks, etc.



The cityscape of Ahmedabad will further be improved with the permission for upcoming Ahmedabad-Dandi heritage route in Gujarat. The plan to introduce metro rail service in the city is no less than a boon to Ahmedabad infrastructure. The construction of another ring road is planned with three of them already existing. Ahmedabad seems to be converting into a metropolitan city soon with well planned infrastructure and contemporary amenities.



As expected, the rates of property in Ahmadabad have risen in due to various reasons. Firstly, the deficit between demand and supply for property due to the increasing need has led to a rise of 15-20 percent in property prices every year. Secondly, the changing face of city due to large scale infrastructural, retail and commercial activities by major real estate developers has directly led to higher property prices. Thirdly, there has been an increase in the spending powers of the inhabitants, thus, upping the rates of property.



Ahmedabad has also been gaining the position of a lucrative investment market for both the city dwellers and the NRIs. Its developing economy has instilled confidence in both investors and bankers to invest their money in the real estate sector. With the coming up of IT parks, SEZ parks, etc., real estate has brought about a boom in the investment market too. The aim of real estate developers of making Ahmedabad a self sustaining city and the good quality of life offered here attracts NRIs and others for both living and investing money in the city.



Well developed infrastructure, wide roads, improved connectivity and promise of a high class living has amounted to two to three fold increase in Ahmadabad property rates. Even after this hike in costs, it is much lower than the rates in metro cities. One of the reasons could be the boost in prospects of business in Ahmedabad. Easy availability of labor and the strategic location of Ahmedabad prove beneficial for businessmen. It is closer to Mumbai, one of the important business centers and to countries in Western, African and Middle East.



Ahmedabad offers great opportunities in both education and employment sector and this also helps encourage the real estate industry. It has world's most reputed institutes such as Indian institute of Management, Ahmedabad (IIMA) and National institute of Design (NID) that fetches students from all around the world. Students come in large numbers to study in these top schools and to work in highly progressing industries.



With so many activities lined up, Ahmedabad is an incomparably splendid place to invest in for both property buyers and property developers.



Deepika Bansal writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information. At 99 acres, you can advertise a property in India , search for a property, browse through Ahmadabad Real Estate and Properties.

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