Janshil Realty: Ahmedabad on a growth path

Janshil Realty: Ahmedabad on a growth path: When one names Gujarat, the first thing which strikes the mind is Ahmedabad. It is the sixth-largest city and seventhlargest metropolita...

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Policy for smart cities soon

Prime Minister Narendra Modi’s government may have just announced the development of 100 new smart cities in its first budget last month, but the Gujarat government has already started preparing a new policy framework and roadmap for developing existing cities into smart cities.

It has planned a major brainstorming seminar in October when national and international experts will participate.

The Gujarat government is also planning to develop five new cities in anticipation of a major new scheme for the development new smart cities.

Additional chief secretary (ACS), urban development & urban Housing, G R Aloria, said: “We are already moving in the direction to convert our cities into smart cities by providing best smart and digital services to the citizens. E-nagar services which were launched recently are the first step in that direction.”

He said that the government is working on a policy framework for developing major cities and even municipalities into smart cities from where people will be able to get most of the civic and other services from their home by digital and mobile media. “We will conduct a major seminar in October in which brainstorming with national and international experts will be done on developing smart cities in Gujarat. After that, we aim to develop a policy and roadmap for developing smart cities,” he said.

He said they were awaiting the exact details on the proposed scheme plan by the Government of India. “Once it gets cleared, we will submit our draft proposal,” he said.

There is confusion whether the new scheme will be for redevelopment of present satellite towns or development of new greenfiled towns like Gandhinagar. Sanand, Kalol near Ahmedabad, the other side of river in Gandhinagar, few adjoining areas near Surat, Rajkot and Vadodara are also under consideration, he said.

“Land identification and other issues are ongoing. We are also preparing new city development plans for Surat, Rajkot and Vadodara along with Ahmedabad. Availability of transport, water supply and road connectivity are major issues that will be considered first,” he added.

Union finance minister Arun Jaitely in his budget speech had said: “The Prime Minister has a vision of developing ’100 Smart Cities’, as satellite towns of larger cities and by modernizing the existing mid-sized cities. To provide the necessary focus to this critical activity, I have provided a sum of Rs 7,060 crore in the current fiscal.”

Under the DMIC (Delhi Mumbai Industrial Corridor), Japan and Gujarat government are also planning eco-smart cities in Sanand, Changodar and Dahej.

Source: The Times of India, Ahmedabad

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Top 10 Localities of AHMEDABAD

If you are looking to buy a home in Ahmedabad, take a quick look at 10 of the most preferred localities of the city and what they are offering.

Bopal, Satellite, SG Highway, South Bopal, Prahlad Nagar, Gota, Bodakdev, Chandkheda, Thaltej and Maninagar have been rated as the most popular localities to buy home.

Bopal and South Bopal

Both these localities are preferred because of their affordable capital values. Even though these localities fall far from the city, they are well-connected through SP Ring Road. Significant development in the residential sector has increased the number of enquiries and conversion rate. The capital values in the locality range from Rs 2,950-3,750 per sq ft.

“Both these localities have all the basic infrastructure and still the property prices are low in comparison to Prahlad nagar, Satellite and Bodakdev,”

Satellite

Satellite, one of the expensive and well developed localities of Ahmedabad is second in the most preferred localities. Proximity to commercial offices in Prahlad Nagar and decent connectivity to rest of the city are two major factors driving people to this area.

The capital values of apartment here fall between Rs 4600 and Rs 6000 per sq ft.

Satellite gets its connectivity from SG Highway and 132 feet Ring Road. Bus services are provided by both Ahmedabad Municipal Transport Services (AMTS) and Bus Rapid Transit System (BRTS). It is located 3 km away from Vastrapur Railway station, 9 km from Ahmedabad Railway station and 15 km away from Sardar Vallabhbhai Patel International Airport.

SG Highway

Sarkhej-Gandhinagar (SG) Highway not only connects Ahmedabad to Gandhinagar but also gives connectivity to various localities within the city. At present most of the development both in industrial and residential sector is occurring in localities located along this highway.

 “Commercial set-ups and availability of several residential projects offering both ready-to-move-in and under construction properties at affordable prices are driving people towards the area,”

Prahlad Nagar

Commercial set-ups are the major reason behind the popularity of the area. Several multinational companies, BPOs, KPOs, etc are located in the area. Being one of the well-planned and developed areas of Ahmedabad it has all basic facilities such as schools, hospitals, banks, restaurants, malls, etc within the vicinity.

The property values range from Rs 5000 to Rs 7000 per sq ft. Upper-middle class and high class people generally buy properties here.

The area is located adjacent to SG Highway and is just 1km away from Vastrapur Railway station.

Gota

Gota is situated roughly 10 km from Ahmedabad. As it falls on the outskirts the property prices here are affordable varying from Rs 2600-3000 per sq ft. Hence, middle-class people are more attracted towards the area.

Bodakdev

Bodakdev is probably the most expensive amongst these locations with property prices ranging from Rs 4500-6500 per sq ft. senior executives, people at the managerial level in the companies located along SG Highway generally buy properties here.

SG Highway runs right through the middle dividing the locality connecting it to the rest of the city.

Availability of physical and social infrastructure such as wide roads, schools, public transport, hospitals, banks, malls, etc in proximity makes Bodakdev further more favorable destination among home buyers.

Chandkheda

Chandkheda is least expensive among the top 10 localities. The capital values here range from Rs 2300-2850 per sq ft. “People working in ONGC, IT companies and colleges are the one buying property here.”

Apart from having its own Chandkheda Railway station, the locality gets its connectivity from SP Ring Road and 132 feet Ring Road. Bus services are provided by BRTS and AMTS.

Thaltej

Located in between SG Highway and Sardar-Patel (SP) Ring Road, Thaltej is one of the premium localities of Ahmedabad. The property prices here vary from Rs 4500-6000 per sq ft.

“Thaltej is mostly a residential area that is situated away from the hustle and bustle of the city. Less traffic, peaceful environment and affordable prices attract buyers towards it.”

AMTS provides the bus services here.

Mani Nagar

Proximity to industrial area, improved connectivity and robust development of basic infrastructural amenities are the reason behind the sudden emergence of this area in the list of preferred localities.

Capital values here range from Rs 2900 to 3500 per sq ft.

“People working in small and medium scale industries situated in Gujarat Industrial Development Corporation (GIDC) buy properties here.”

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Satellite Is The Second Most Preferred Location in Ahmedabad

Satellite has become the second most preferred locality in Ahmedabad for housing after Prahlad Nagar. This is due to its location, infrastructure growth and good social amenities. There are multiple reasons why Satellite has become such a sought-after locality.

Location and accessibility

Satellite is situated between two main highways: Sarkhej-Gandhinagar Highway (SG Highway) and 132 Feet Ring Road. SG Highway is a part of National Highway 8C and connects the area to Mumbai and Delhi. The 132 Ft Ring Road connects the area to other areas of Ahmedabad and the GIDC industrial areas. The Sardar Patel Ring Road is just about 6 km from the area. This ring road too connects the area to other important areas in Ahmedabad and the Odhav Industrial Estate.

There are several AMTS as well as BRTS buses on both the highways that provide accessibility to Satellite. The BRTS buses have significantly improved the accessibility. The Ahmedabad railway station is about 10 km from Satellite and the International Airport is about 15.5 km from the area.

Infrastructure

The area has a very good social infrastructure. There are several popular educational institutions such as Sardar Patel Institute of Public Administration and Ahmedabad International School as well as several training institutes within the proximity. There are a couple of hospitals such as Shalby Hospital and medilink Hospital,  that are close to Satellite. There are several restaurants and eateries in Satellite. The Cinemax and Wide Angle multiplexes are nearby. There are also banks, malls, parks and temples in the area.

Real estate trends

Satellite is an area popular among the middle-income buyers as the area is very much within the affordable range, though it is near the central part of Ahmedabad. The approximate property value in Satellite is about Rs 4300-5,600 per sq. ft. Most of the available configurations are 2 and 3BHK ready to occupy apartments. The approximate covered area of a 2BHK apartment is in the range of 900-1,200 sq. ft. and that of a 3BHK, is between 1,400-2,400 sq. ft. There are a few 4BHK apartments too available of the same dimensions. Some of the active builders. The approximate cost of a 2BHK apartment is about Rs 45-55 lakh while that of a 3BHK apartment is about Rs 80-120 lakh. There are also few high-end 4BHK apartments whose cost may go beyond Rs 2 crore of higher dimensions and available amenities. Property values in Satellite have been on continuous rise for the last 5 years. In the last three years, the average property value went up from Rs 4,300 to Rs 5,300 per sq. ft. marking an increase of 20 to 25 per cent.

The affordability factor of the area while having a very good connectivity and infrastructure has made satellite one of the most sought after places for residential properties in Ahmedabad.

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South Bopal most preferred locality

South Bopal is one of the most preferred locality in Ahmadabad  where capital values range from Rs 2700 to Rs 4000 per sq ft. A 3BHK apartment, having area between 1400 sq ft to 2200 sq ft, is priced between Rs 45 to 80 lakh. You will find a 4BHK apartment having 3200 to 3800 sq ft area in the price range of Rs 1 to 1.5 crore. Price of 3BHK independent house falls between Rs 70 to 80 lakh. Size of such houses here range from 200-250 sq yards. To buy a 4BHK independent house having 285 to 300 sq yards area one must shed Rs 1 to Rs 2 crore. Social infrastructure, such as schools, hospitals, banks, restaurants, malls, etc is present in near to locality. Most of the apartments available in these locality are part of gated communities that give sense of security and privacy to its residents.

Bopal and South Bopal are located some 15 km away from Ahmedabad city while Satellite is situated 7 km away from it. However, connectivity of this area is top notch. While Bopal and South Bopal get connectivity from SP Ring Road and Sanand – Sarkhej Road, Satellite is connected by 132 feet Ring Road and SG Highway. Bus services by Ahmedabad Municipal Transport Services (AMTS) or Bus Rapid Transit System (BRTS) are available. 

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Twin cities of Ahmedabad and Gandhinagar on the rise

Ahmedabad’s property picture is very bright at the moment. The city is dragging its sister city on the same lines of boom, making Gandhinagar as one of the most viable options for property investment in the recent times. Major thrust has been provided to the twin city with the good network of BRTS connecting Ahmedabad and Gandhinagar.

Gandhinagar is taking all the possible steps towards becoming a futuristic city and the property scenario there is very soon going to match with Ahmedabad.

In trend

In Ahmedabad, affordable housing is the trend followed by need for integrated townships. The emerging trend of integrated township projects has also given new dimension to the city’s property picture. Even luxury housing sector is catching up fast. Luxurious housing projects are enjoying a new look trying out different product offerings and this has brought the crowd of investors into the luxury market. NRIs are also heeding the market in large numbers. It would be safe to say that luxury residential projects have stormed into this part of the world despite the slowdown. Yet another concept of weekend homes accompanied with resort and club facilities is growing at a fast pace.

Ahmedabad at its best

There are many factors, which have provided a boost to the real estate industry in Ahmedabad and Gandhinagar. The infrastructural development around the city, upcoming opportunities in major industries and companies and the growth in educational sector have made Ahmedabad one of the most convenient and affordable places to settle. The city has huge potential for future infrastructure development along with commercial development leading to new employment opportunities. In the recent times, commercial property is a very profitable avenue as many foreign companies have set up their sales offices in Ahmedabad and are likely to expand exponentially. Also, leading real estate companies are darting the property market of Ahmedabad for development of residential property. The city’s infrastructure is in its modernisation phase and the completion of major projects has improved the supply of potable water and electricity for the city, thus, making investment in real estate a very profitable option.

Gandhinagar’s glory

Gandhinagar too, has emerged as a place with excellent opportunities in real estate investment. A major commercial hub, the city has transformed significantly over the years by becoming one of the well planned areas in the state. The city has been developed in four phases having beautiful green cover that is attracting builders to develop housing complexes with good potential here. Previously seen as an administrative city, Gandhinagar has already developed as a trade capital of the state and now the residential realty is also growing at a fast pace in the region. Due to this growth of the residential realty, the property prices in Gandhinagar have seen a huge surge in the last few years. However, in contrast to the big cities, which have reached their saturation, the residential and commercial property in Gandhinagar is still affordable. As a result, the properties in Gandhinagar are high on demand among the investors who are looking for assured high returns.

Real estate market in Gandhinagar is growing owing to a number of reasons. The city has good infrastructure to support the building of residential complexes, societies and commercial space. Increasing development of shopping malls is attracting retailers and has spelt out a boon for shoppers. A city-based realtor avers, “Well-organised infrastructure and basic amenities have significantly contributed in the growth of residential property market in Gandhinagar. Even the better transportation system, enhanced infrastructural set-up, improved basic amenities, etc., are a few other reasons for the growth of residential realty in the region.”

With excellent connectivity to Ahmedabad, Anand and Vadodara, the city is attracting all the big and small developers. Educational facilities and opportunities for employment are also improvising so there will be a large number of people shifting here from all parts of India. With so many developments taking place here, the property prices are set to rise for sure. Overall, both the cities are witnessing an unprecedented property hike.

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Growth in Ahmedabad and beyond

Ahmedabad's real estate market is booming because of to the huge growth of its industrial sector and overall high rate of development, both in commercial and residential terms. It is the largest city of Gujarat, and also its commercial capital. It is rich in textile, pharmaceutical and chemical industries. Apart from being a well-established education centre (with national institutes like IIM, NID and CEPT) Ahmedabad has also established itself as a major IT/ITeS and retail destination. The combination of the favorable factors naturally makes it a highly desirable residential destination.  
Flats, apartments, serviced apartments, bungalows, penthouses and township properties are cropping up all over to meet the demand. In the past, residential development in Ahmedabad was predominantly in the form of individual bungalows, and even today new bungalow schemes can be found on the outskirts of Ahmedabad city, especially along the Sardar Patel Ring Road coming under zones R2 and R3. However, the scarcity of land and expensive real estate prices in the city have brought in the trend of apartment houses in form of high rise towers in the city. 
The prime residential areas in the city are Shahibaug (in the northern part of the city), Satellite, Bodakdev, Vastrapur, Prahladnagar, Thaltej (in the western parts of the city), Maninagar and areas around Kankaria and Chandola Lake in the southern eastern parts of the city. 
The growth corridors for real estate development are the SG Road (Sarkhej-Gandhinagar Road), Sardar Patel Ring Road, Maninagar and on the north side of the Inner 132 ft Ring Road in areas like Nirnaynagar and Ranip. SG Road and Sardar Patel Ring Road in particular have witnessed a lot of residential bungalow/farm house type developments in the recent years.

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