Migrant workforce pushing housing demand in Ahmedabad

With Ahmedabad gradually developing into an economic hub in the west of India, professionals migrating to the city prefer to buy property here instead of buying in their home cities or taking an accommodation on rent. The workforce that is primarily between the age group of 28 to 35 is now pushing the housing demand in the area, according to experts.

“Almost 40 per cent of the working population in Ahmedabad is migrant, coming from some or the other city within the state or country. Most of them have stable jobs and do not mind buying a house rather than spending money on rent,”

However, as these buyers are mostly young with limited salaries, demand is mostly seen for properties up to Rs 30 lakh. of the total demand for properties across budgets, city witnessed 16 per cent demand for properties up to Rs 30 lakh. In comparison to this demand, the supply for properties up to Rs 30 lakh stood at 13 per cent during the same quarter.

While Rs 30 lakh budget remains a constraint for most they also prefer localities based on the time of commute and proximity to commercial centres. For instance, new apartment projects of South Ahmedabad have become a favourite among these buyers, as apartments come within Rs 30 lakh budget.

Good connectivity to Corporate Road and Prahalad Nagar, key commercial hubs of Ahmedabad add value on their investments. Localities in and around Prahalad Nagar, such as Vasna, Bopal and Vejalpur are in great demand and offer properties in the range of Rs 20 to 30 lakh. “South Ahmedabad has plenty of options. Vasna for instance has seen few projects by developer who are targeting these younger professionals and bringing out projects at a price range that would suit their pockets,”