Ahmedabad, the city well known for Art and Architecture is about to witness a big boom in the realty sector within next couple of years.

Lots of new developments are happening in the realty sector of the city.

With the ongoing pace, The city is expected to have large amount of new residential property units not less than 12,000 by the year 2012.

Most developments are expected to take place in the Northern and the Western parts of the city whereas the central Ahmedabad with areas like, Paldi, navrangpura, Ashram Rd, Vasna and Usmanpur are expected to show least developments.

The western part is coming up with residential plot schemes wherein all other areas are coming up with dwelling systems. According to a recent survey, a Housing Price Index ( HPI ) has shown 57% increase in the western parts, 55% increase in the northern parts and 17% increase in the areas like Bhadra, Dhudeshwar and Gaikwad Haveli since last year.

The city now is all set to become a shopper’s paradise too.

With already about 13 malls present in the city, 11 more malls with almost 5 million square feet of space are coming up in this single year in various parts like satellite, Gurukul, Wadaj, Chandkheda etc. With this there would be around 24 malls in the city by the end of this year which is a biggest influx of malls in the city history.

The city is increasingly becoming the next hot destination for domestic and alien investors, thanks to burgeoning education centers, IT parks, and other manufacturing industries. Since 2000, the city has transformed through the construction of skyscrapers, shopping malls, and multiplexes. The city has witnessed the establishment of scientific and research centers, the expansion of information technology parks, improvement in transportations and communications. Ahmedabad is the largest inland industry centre in western India, and enjoys a reputation of being an important commercial and industrial base. Two of the biggest pharmaceutical companies of India, Zydus Cadila and Torrent Pharmaceutical, are based in the city. In recent years many foreign companies have set up their sales offices and production units in Ahmedabad Robert Bosch, Hydraulic are to name a few.

Ahmedabad has an encouraging atmosphere for business and entrepreneurship. It’s proximity to Mumbai; the commercial capital of India serves their purpose. The city has always been accessible to the Western, Middle East, and African markets. A NASSCOM survey in 2002, on the ‘Super Nine Indian Destination’ for IT-enabled services, ranked Ahmedabad fifth among the top nine most competitive cities in the country.

Ahmedabad has received ‘AA’ grade with 30.97% share of total Market Potential Value (MPV) of the state of Gujarat. The city has undergone a slow but steady transformation that is being realized in the modern cityscape and its format, swank apartments and retail malls. The population of the city is estimated to reach 10 million by 2025. The city has more than 80 per cent of the urban population and home to large cooperates and state and district level public offices. According to a recent survey by RK Swamy- BBDO, Ahmedabad has seventh MPV among all the 784 cities in India. The total market potential value of the city is 220.63, which is indexed with Greater Mumbai as 1000, the city with maximum market potential. Ahmedabad is the only ‘AA’ graded city of Gujarat.

Ahmedabad has proven to be an ideal city attracting residential and commercial property due to excellent infrastructure. The city commits to meet expectations of investors. The State Government has envisaged of developing Ahmedabad into a world-class city through reforms and infrastructure development. It forces to make the city clean, livable, and productive has translated into the setting up IT parks in and around the city.

Since the declaration of Ahmedabad as a mega city in the last Union Budget, the real estate developers have geared up. The western parts of the city are booming areas for residential properties in the city. Real estate has been charged by improvements in road and public transportation and other infrastructure. Bungalows and apartments b are coming upon the new four-lane road developed from SG Road to the new Sardar Patel Ring Road. As the every city of India, the size of the residential market has been estimated at over Rs 1500 crores per year. The residential property has been risen 10% to 15% on an average. According to industry experts, it will go up to 20% to 40 %. The residential rates have been increasing at alarm rate. The land prices in and around the city has doubled because of better connectivity and wide roads. Market sources predict that around Rs. 700 crore will be investing in mall segment in the next two years. Some major retail players like Star India Bazaar, Shoppers’ Stop, Pantaloon and West- Side as well as international brands are eyeing the Ahmedabad market for its retail potential. Retailing is on the upswing with the highest number of multiplexes in the county located in Ahmedabad
Commercial property development is visible in areas like CG Road, SG road, Ambavadi and Navrangpura and driven by both end users and investors. Niho’s Scottish mall is coming up on main Ashram Road on 4.5 lakh square feet area at a cost Rs 180 crore. An NRI founded exhibition-cum convention centre at Ahmedabad at cost $ 9.2 million will further promote commercial activity in the city.
DLF has planned make 30 acre IT Park, simultaneously K Raheja Corporation coming with a huge IT SEZ project with an investment Rs 8000 million. Along projects for urban infrastructure development in the city including the Sabarmati riverfront project and integrated public transit system. They are Reliance’s SEZ near Jamnagar, Mudra SEZ of the Adanis, Dahej SEZ, and a biopharma park on the outskirt o Ahmedabad, two apparel parks, and a gems park. McDonald is planning to open eight more outlets this year. A lifestyle is being developed on 78 acres by Navratna with 300 bungalows. Large townships have also been planned by Adnani Developers. The developer has collaborated with Ahmedabad –based Ashima Group’s Saumya Construction to develop a 200- hectare integrated township called Shantigram. Retail king, Kishore Biyani, managing director, Pantaloon Retail India Ltd ( PRIL), feels Ahmedabad had been become more interesting not just for Indian but foreign investors as well .
Shopper’s Stop, After picking up space for a 35,000 sq ft on CG Road near Panchvati cross roads, it is now understood to have struck a deal for a 1.5 lakh sq ft hypermarket next to Iskon Temple on Sarkheja- Gandhinagar Road. Recently, Parsvnath Developers Ltd has been showing keen interest in the city. Recently, the developers has announced its five star hotel and commercial mall in Vejalpur. The project will be cost around Rs 250 crore and it will be a landmark complex in the city. The developers also launching Parsvnath City Centre, first of its kind luxury Mall cum multiplex, at an approximate cost of Rs 50 crore. The Central Government approved the construction of a new International terminal Building along with city and airside development at an Ahmedabad Airport at an estimated cost of Rs 290.92 crore. Shree Raj Tour and Travel declared a 42- storey hotel in Ahmedabad. The completion of Sadar Sarovar Project of dams and canals has achieved its purpose of improved supply of potable water and electricity for the city. The stat government is investing in water supply, electricity, and communications.
All of this development promises for real estate investing and selling, buying and leasing in Ahmedabad. Beside, a number of projects in the hospitability industry, sewerage system, education institutes, and other will give the city a facelift. Ahmedabad real estate scene also lend it self to new model including mixed used developments and service apartments. In the years to come, there will be a umpteen of choices in real estate categories of residential, rental, office space, and retail.