subject: Good Investment Point - Ahmedabad [print this page] Ahmedabad The largest city of Gujrat with its rich history and cultural heritage makes the place unique. Despite fluctuating fortunes of its industrial base, the city has emerged as a vibrant city.
It has successfully transformed itself from an image of being just a textile city, capital market city, chemical city to that of an emerging multi-sector economy.
Infrastructure is the hallmark of economic development as the superstructure of a nation's overall wealth hinges on it. Going by the ever growing construction of skyscrapers, shopping malls and multiplexes, Ahmedabad is moving on fast. Investors and NRI Gujaratis have been attracted due to its mega city status and the strides it has made in terms of health care, cuisines and malls.
The city is witnessing a major construction boom and population increase. A rising center of education, information technology and scientific industries, Ahmedabad remains the cultural and commercial heart of Gujarat and much of western India. Retail and information technology are the upcoming sectors in the state. IT parks are being set up. Projects in the auto parts industry are being planned for the city.
There is a steady stream of people from other states coming into the city due to job and business opportunities here leading to higher demand. With a booming job market, there is an influx of people from neighboring cities like Rajkot and Baroda as well. This is probably why builders and investors from outside are making inroads into Ahmedabad
Current Ahmedabad real estate market is less expensive as compared to the neighboring localities and this is going to be a crucial factor - as more number of International players will establish their campus here.
The real estate in Ahmedabad is at such a high currently that it is attracting developers even from outside the city like renowned builders from Pune, Mumbai and other places. Some of them are Godrej Properties, Hiranandani Builders and Ajmera Group even as new companies foray into the property market of the city. Besides developers from across the country showing interest in city's realty, investors are also eager to pump in money in Ahmedabad property.
S.G Highway and Ambawadi are the places where IT companies are coming up with their campuses. Commercial areas are C.G road, S.G highway Satellite, Vastrapur. Bungalows and apartments are coming up on the new four-lane road developed from SG Road to the new Sardar Patel Ring Road. The high-end residential properties in Ahmedabad are investor-driven. Coming of SEZ will further boost real estate residential and commercial values because of increase in number of floating population.
The business sector and rapid industrialization will continue to be significant growth drivers for the Ahmedabad property market. Thanks to a very conducive environment provided by the State Government and the availability of skilled manpower, a number of corporates have made an entry into Gujarat, and the fact that Ahmedabad is the economic capital of the state makes it a preferred location for the Head offices and Regional offices of such industries and corporates. As a location for property investments, Ahmedabad certainly has good prospects in store for prospective investors
