AHMEDABAD – THE HOTSPOT!

Ahmedabad's progress in terms of development in basic infrastructure such as electricity, water and roads has been making news since a while now.

This development is definitely yielding good dividends with top real estate companies targeting Ahmedabad - the proverbial goose that lays golden eggs.

Yes, property prices across the city have doubled since 2010.

While Godrej got a major chunk of its revenue in the last quarter from just one project, others like the Hiranandanis, Ajmeras, Tatas and the Adanis too have established their base in Ahmedabad.

Why?

The first probable reason is believed to be the convergence of industries in Sanand.

Apart from Tata, Ford and Peugeot, the town has multinational companies like Bosch, Hitachi Hi-Rel Electronics, Colgate Palmolive, Hyundai Transformers and AIA Engineering who have invested in land in that area.

Secondly, excluding the top three townships currently being constructed, including Shantigram and Garden City, around 16,000 apartments are being developed in Gujarat.

In the last three years, approximately 30,000 residential units and 10 million square feet of commercial (including retail) were made available in Ahmedabad. [Source: Internet]

Even now, there are a lot of projects to be launched.

[Some projects have even roped in celebrities like Amitabh Bachchan and Hema Malini for launching these projects.]

According to the data published in the socio-economic review of our state, Gujarat had a whopping 211% growth during 2004-05 and 2009-10.

Thirdly, a global property consulting firm, Jones Lang LaSalle (JLL), says, the residential real-estate prices in some of suburban locations of Ahmedabad now stand higher in the suburbs of larger cities like Bengaluru, Hyderabad, Chennai and Pune. [Source: Internet]

These trends are strongly indicative of Ahmedabad's growing stature at a national level as a credible investment destination in real estate.

With multinationals setting their businesses here, job opportunities and income levels are expected to rise in the coming years.

If you are still wondering why you should be investing in Ahmedabad, in a nutshell;

ü Commercial Capital of Gujarat

ü It is the 7^th largest metropolis in the country

ü It has the highest per capita purchasing power

ü 70% of investors in Indian stock markets are Gujaratis

ü It has been accorded status of a Metro City

ü The worlds’ cheapest car – NANO – is produced nearby

ü It has a population of more than 6 million – growing needs, expanding homes.

ü And of course, the Sabarmati Riverfront project... India’s first of its kind!

Agreed, that the current property market is slower than what it was a while ago… but over a 10-year span, Ahmedabad is expected to be a great investment destination, especially if it continues to attract the best talent and best companies at the rate it is doing currently!!!