If buying a 'house' in Ahmedabad is on your 'to-do list,' you should consider developing a location in Ahmedabad for good returns. Investing in properties with excellent metro connectivity is considered strategic in all metropolitan areas regarding rising prices and ease of commuting. Lucky for all Amdavadis, the nearby metro belt through the capital connects to Gandhinagar's IT center and electronics industry. It will ease some congested areas and provide efficient connectivity for commuters.
It was a great weekend! An action-packed and eventful Metro Phase-1 opening ceremony takes place on September 30, 2022. It is giving a new perspective to Ahmedabad to accelerate its development.
Prime Minister Modi said at the rally that today is an important day for India, urban connectivity, and 'Atmanirbhar Bharat' in the 21st century. He praised the soundproofing of the Vande Bharat Express. Here, the noise has decreased by a factor of 100 compared to his aircraft experience.
Prime Minister Narendra Modi kicked off Phase I of the Ahmedabad metro project between Thaltej and Vastral on Friday and took the train. This route has 18 intermediate metro stations.
The scenario of Property Investment in Ahmedabad: Before Metro
Property prices in Ahmedabad have remained flat, dropping around 3% in 2013 and rising just 2% in 2014. The announcement and construction of the subway have significantly increased the demand for land along the subway corridor, resulting in a significant increase in real estate values.
The scenario of Property Investment in Ahmedabad: After Metro
The Metro Phase 1 route includes two corridors. The North-South Corridor starts from his APMC, Vasna, and leads to the Motera Stadium, while the East-West Corridor continues from Thaltej to Vastralgam. If you are planning for a real estate investment in Ahmedabad, a location near the upcoming metro belt from Ahmedabad to Gandhinagar could be considered profitable.
It means that all areas are covered by the metro. Real estate prices go up. Before the start of Metro, property prices in these areas ranged from Rs. 5,000/sqft to Rs. 6,000/sqm. They were announcing the start of the subway service. The price has risen from Rs. 9500/sqm to Rs 10,000/sqm. Therefore, having a property to invest in Ahmedabad is a good option.
How did Other City’s Real Estate Markets respond to Metro Projects?
Mumbai Real Estate market
Historically, Andheri East served as a commercial district. However, in recent years, it has also developed as a residential area. With the subway operating in the area, the often-unbearable traffic was controlled, and the main roads were relatively free. It has a positive impact on housing demand.
The combined impact of mega-projects such as the Eastern Freeway, Monorail, and Subway positively impacts the suburban residential and commercial markets. Metro development is accelerating. Micro markets should benefit from these developments. Similar results are expected for upcoming metro lines in the suburbs of Malad, Kandivali, and Borivali. Having learned from Andheri's success, many real estate companies have already started projects in the area. Most of these projects have already been completed or will be completed in time for the subway's opening.
Pune Real Estate Market
The subway construction will bring about a significant change in land use. There are rumors that another administration plans to put the property to good use. There are plans to revamp the real estate market around the metro by building new business centers, entertainment units, restaurants, and shopping complexes. It will significantly change the patterns of use and demand across the city. Redevelopment of existing structures is also planned, leading to a higher density of areas around the metro. It has a positive impact on residential real estate as well as commercial real estate. People generally want to move to the suburbs, away from the city's crowds, because of the easy access to the main parts of the city.
Hyderabad Real Estate Market
Accelerated development of the Hyderabad Metro has benefited some areas along the line. Take Jalpari, for example. The community of Jalpari near Falaknuma Palace was once full of orchards. But with the new line soon to be extended to Falaknuma, the Japary area has become a hub of activity for builders and homebuyers. Most of the demand has been driven by NRI's purchase of investment properties, especially in areas like Thukgouda, which is close to Srisailam He Highway.
Chennai Real Estate Market
Before the construction of the Chennai Metro in 2015, apartments were priced at Rs 3,600 per square foot. 7,000/sq.ft in areas along metro corridors such as Ashok Nagar, Saidapet, Guindy, Washermenpet, Arumbakkam, and Perungudi after the metro operation. In addition to other factors, subway accessibility played a significant role in the increase.
Delhi Real Estate Market
The Delhi Metro has been in operation for over 15 years and has made a significant impact on the real estate market in the area. The average property price in Dwarka in 2009 was Rs 5,000/sqm. The price increased in the following years, reaching Rs 9,500/sqft in 2018 due to its proximity to the metro station. Delhi's Nirman Vihar metro service started operating in 2010. Along this route, land prices have increased significantly (15-20%) from Rs. 16,667/sqft to Rs. 22,222/sqft - Rs. 22,778/sqft.
Many other states have impacted the real estate market through subways. Jaipur, Gurgaon, Nagpur, etc. are a few.
Scope For Property Investment in Ahmedabad
- It seems you feel interested in such things; let’s take you one layer down to the best Property investment in Ahmedabad. Here are a few benefits why investing in Ahmedabad Real Estate as a good option.
- Unlike many other metropolitan areas in India, real estate investment in Ahmedabad offers an excellent return on investment.
- The city also offers tremendous growth potential in the future.
- Since this is a Gujarat city, their business and industrial prosperity are increasing daily. Of course, this requires land and areas for industrial and commercial settlement.
- Also, the growth of the corporate sector has increased the number of employees and their housing, thus increasing the need for residential real estate.
- Several incumbents such as Tata, Ford, ONGC, and Maruti Suzuki have expanded their facilities in Ahmedabad, and others are following suit.
- Areas such as Maninagar, CG Road, Motera, and Bhopal are experiencing rapid infrastructure development.
- Many outsiders (NRIs and corporations) are investing in the city's real estate sector with the expectation of high returns.
- The competition is getting fiercer daily, with many big names entering the real estate industry.
Best Options for Real Estate Investment in Ahmedabad
Satellite is an established upscale residential area in the western suburbs of Ahmedabad. Satellite tops the list attracting huge real estate demand due to its well-developed infrastructure development and proximity to Navratna Business Park. The satellite has good connectivity with several major regions, such as Vastrapur, Bodakdev, Ambawadi, Mumathpura, and Vasna. Part of a luxury residential project.
Vastrapur is a residential area in the western suburbs of Ahmedabad. The Indian Institute of Management, a prestigious educational institution in India, is located in Vastrapur. Vastrapur is growing in importance and demand from many home buyers due to its excellent social infrastructure and affordable housing opportunities. Vastrapur is convenient to many areas, such as Bodakdev, Mahavir Nagar, Premchand Nagar, Ambawadi, and Bopal.
Located in the western suburbs, Prahlad Nagar is one of Ahmedabad's most famous and wealthy districts. The neighborhood lies along the sarkhej- Gandhinagar Highway and is surrounded by the famous communities of South Bhopal, Satellite, and Bodakdev. Prahlad Nagar is located between Sardar Patel Ring Road (NH-147) and 132 Feet Ring Road (NH 228), with good access to the inner and outer ring roads of the city.
Located on Sardar Patel Ring Road, Bopal is a fast-growing residential area in the western suburbs of Ahmedabad. Bhopal is a well-planned area, mainly consisting of multi-story apartment and villa projects, suitable for affordable and mid-range buyers. Many of these projects have been completed and are equipped with the latest conveniences. We also have several projects in progress. Gota is a growing residential area in North Ahmedabad. The area gained prominence following the construction of the Sarkhej-Gandhinagar (SG) highway, which connects Gotha with the rest of the city. Most apartments in this area are medium in size.
In addition to these areas, Maninagar, Motera, Chandheda, thaltej, and many others are attractive from a real estate investment perspective in Ahmedabad.
Find all the information about real estate and properties in Metro, Ahmedabad. So, make a wise decision to purchase Ahmedabad property as an investment. Try contacting D and C. He gives us the best real estate advice in Ahmedabad. For more information, please visit our website.