As the largest city in one of the most wealthy and industrialized states in the country, the importance of Ahmedabad cannot be ignored, neither can the scope and potential of the cities real estate market.
With more than 300 new projects in Ahmedabad under construction, the city seems to be gearing up to embrace the future. As a city which is planned to be a part of the Delhi Mumbai Industrial Corridor, citizens of Ahmedabad realize the great things that lay ahead for their city.
Although a lot of the new projects in Ahmedabad are priced well below 1 crore, there are many new properties in Ahmedabad which are priced significantly higher. It appears that the citizens of Ahmedabad, like those in other cities, would like to spend what they have earned.
One such multi crore property by Nishant Construction at Jodhpur Village in Ahmedabad offers 4 and 5 BHK apartments in Ahmedabad at prices which range between 2.9 crores to 3.9 crores. The carpet area of the smaller apartment is a little below 4000 square feet and that of the larger 5 BHK apartment is over 5100 square feet. The property is scheduled to be completed within a few weeks and offer an opportunity to purchase luxury apartments in Ahmedabad.
Another upcoming property in Ahmedabad which caters to premium home buyers is located at Ambavadi and is being built by Sun Builders. With prices ranging from 1.4 to 2.0 crore the apartments under construction are within the rich of many upper middle class homes. The said project is expected to be completed by March of next year.
As we seek out new projects in Ahmedabad, we find a comparative paucity of new homes under construction which cost greater than 2 crores. One property which breaks the trend by Addor at Gulbai Tekra has prices for 4 BHK homes ranging from 3.3 to 3.6 crores. The property is to be ready for occupancy by September of this year. The apartments at this upcoming development range in size between 5100 to 5400 square feet.
A notable new property at Ambli in Ahmedabad offers luxury apartments in Ahmedabad at prices that range between 3.1 crore up to 4.2 crore. With flats of only 4 BHK and 6 BHK in the development it stands to cater to mostly families or in some cases real estate speculators. The property is under development by Sanskrut, the expected date of completion is December of 2018. The property has already appreciated by a little less than 8 %.
While the state of Gujrat is one of the wealthiest in the country and Ahmedabad may well be the beating heart of Gujarat, relatively few of the new upcoming projects in Ahmedabad seemed to indicate a strong bias towards luxury housing in the state capital. Much of housing under construction in the state capital caters to the budget home buyer and is priced close to 10 lakhs. There may be little to indicate that home buyers in Ahmedabad were keen to own new super luxury apartments in the city.