Real Estate trends for NRIs

The Gujarat government envisages Ahmedabad as a world class city. In pubic-private partnership, it is looking to upgrade the city to make it, clean, viable and self sustaining. Better acknowledged to be the capital city of the state of Gujarat, Ahmedabad is the seventh largest metropolis of India. A city more popular for its industrial background, it is growing and new areas in the outskirts are becoming well off suburbs. This makes Ahmedabad a real place of growth.

Ahmedabad is fast flourishing into a popular choice for foreign direct investments (FDI) such as joint ventures and real estate investments. Although, the transformation of the city is slow and steady but the past few years have witnessed major industrial development. The cost of living in the city is still lower than may be in other metropolitans.

With an improvement in its infrastructure and facilities, it is no wonder then that many new ventures are looking forward to the city. This may serve as a decent investment option for NRIs pondering over to yield good returns in near future, as the real estate prices in Ahmedabad are sure to take a jump.

The construction activities and new real estate projects in Ahmedabad have pushed property rates to new highs. As a location for property investments, Ahmedabad certainly has good prospects in store for prospective investors with a fair share of risk and this might be one of the key reasons for investments being marginal.

Ahmedabad enjoys a very strong connection with Gujarati NRIs, whose spending power and industrial skills have encouraged a healthy shift in property rates of late. Ahmedabad commercial real estate is still on infant stage and is developing in and around C.G Road and Ashram Road, along with the old city area. Staying in step with demand, the present supply of commercial space is determined to be 0.3 million sq. ft. with an absorption rate of 60-65%. However, the market is expected to zoom in the wake of new construction activities.

This commercial city of Gujarat is likely to grow by leaps and bounds in the next few years. The old city area and Sahibag, located north of it, are regarded as the old residential areas. Western side of Ahmedabad is gaining popularity as new residential areas, between Inner ring road and C.G. Road, such as Bodakdeo, Satellite, Vejalpur, Jodhpur, and Vastrapur.