Ahmedabad is an important real estate market in the country, as yet it does not have the stratospheric prices which can be found in many other parts of the country. One of the most upmarket regions of the city is known as Satellite, it is home to some of the best property in Ahmedabad. As a relatively old and well developed part of the city, Satellite offers excellent amenities to those lucky enough to live there. Yet at the same time even at one of the most upmarket parts of the city, property at the locality even today can be purchased for as little as 50 lakhs.
The locality has a bounty of social infrastructure such as schools, specialized hospitals, malls as well as offices of large multinational organizations. Those living at the locality enjoy a high standard of living and many live in what may be considered some of the best apartments in Hyderabad. Due to the regions antiquity it is already a well-developed locality which offers some of the best opportunities to those seeking real estate in Ahmedabad. Many would describe the locality as perhaps even over developed due to a shortage of greenery and an abundance of road and concrete.
Despite being one of the most fully developed regions of Ahmedabad, the region is still the backdrop of a few upcoming projects in Ahmedabad. Such new developments may be found in the form of apartments ranging in size from approximately 1,500 square feet to 3,000 square feet in size and priced between 75 lakhs and 1 crore. Many such new projects at Satellite are being undertaken by some of top builders in Ahmedabad and a few such upscale units may sell at prices of 3 crore and above.
The prominence of Satellite as one of the top locations to own residential projects in Ahmedabad may have been in doubt a few years ago when prices dipped here, yet within less than a year prices rose higher than they had been before the fall in prices. Such a trend likely indicates a that even a future bottom for the market is likely to not be too far below where prices had last fallen and displays an aura of the locality in the minds of investors and buyers who are willing purchase property at Satellite at even slightly lower prices; the increased demand for which is likely what may have resulted in the subsequent increase in the price of property at Satellite.
Among the top 3 destinations for real estate in Ahmedabad, Satellite commands an exclusive position in the consciousness of a citizen of Ahmedabad. The name itself, “Satellite”, may conjure up images of an object placed high above the Earth looking down upon all those below, which may not be too incorrect in describing the gentry which live in this part of the city. Perhaps one pitfall of owing property in this part of the city may simply be the excess of humanity to be found here, as a large commercial center in the city, the locality is bustling with humans and their activities. For someone interested to own property in Ahmedabad with a quite atmosphere where they may not necessarily have to witness before them throngs of humanity, Satellite may well be suitable to pass as a prospective real estate destination.