This is one of the leading metros across the country and hence the real estate sector of the same is also developing at a rapid pace. The demand of residential properties is more in this city as well and hence one can see numerous projects here by some of the known developers.
Ahmedabad has shown a great hold in the residential market with 16.3% growth in the first half of the year 2016. When compared to the records of last 4 to 5 years, this is the best figure recorded in Ahmedabad Residential Market Report. At this position of the market, it is the best time for investors to invest in new project launches and purchase of resale properties. Positive growth in different sectors of the property is expected in the second half of 2017 and the first quarter of 2018. The residential market of Ahmadabad had a boom with the growing demand for apartments in the central areas of Ahmadabad.
The latest study done by the Associated Chambers of Commerce of India (Assocham) has listed Ahmadabad 5th in the list of unsold inventory. Even though the Ahmadabad real estate market has a demand for residential apartments, the study claims that Ahmadabad has 57500 unsold properties which are 20% of the residential properties still under-construction. Compared to other cities, Delhi NCR is at 35%, Mumbai at 27.6%, Bangalore at 24.9% and Chennai at 22.45%. Other information from the data recorded from the residential market report is:
- Sales volume of properties shows a hike of 13.2% in the first half of 2016.
- The growth in new property launch rose by 50%.
- Developers focused on developing Central Ahmadabad as the sales percentage rose by 135%.
- New property projects were launched in the prime locations of Ahmadabad, like Naranpura, Vasna and Paldi.
- The hub of major employment sector or the Ahmadabad North has gained popularity in the real estate market with demand for apartments in this area.
- Affordable housing projects are launched for the middle-class
- An opportunity for investment has taken place for the buyers as prices have fallen.
All the records mentioned above are produced on the basis of the residential market report and the record of the workings taken place in the Ahmadabad real estate market in the past six months. Data provided are subject to change when the next residential report is prepared.
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