realty

The state Government is very keen to develop Ahmedabad into a top-class city through major reforms and infrastructural development. The Government has a mission to make the city self-sustaining and soon as an emerging metro. Undoubtedly there are various reasons favouring the property boom in this city, like it plays home to several industries and premier educational institutions, and is backed by a strong tourism sector. Being a commercial centre and now a major educational hub, Ahmedabad invites mass from all corners of the state and country. Again, there are many pillars for a strong real estate foundation here. The accessible basic amenities like major connecting roads, transportation, municipal help and notable architecture, Ahmedabad becomes an apple of the eye for the realty developers. The realtors believe that Ahmedabad shares a prime location in India, and so a property investment here will be highly profitable. Due to the emergence of India as a low cost place, property investment in any city of India is an attractive deal for the NRIs and the multinationals to locate in the country and since Ahmedabad offers a variety of basic and modern facilities it clicks fairly well. Foreign investments in Ahmedabad are highly advisable since it fetches high returns due to the lenient and attractive FDI policies in the emerging economy. “Ahmedabad is emerging as a multisector economy. The Ahmedabad real estate market is slowly and gradually getting organised to become one of the largest contributors to the Gujarat economy,” says Ravi Hirpara, director of Jayshri Structures. He also adds that though offering a competitive platform, the current Ahmedabad real estate market is less expensive as compared to the neighbouring states and localities and this is going to be a crucial factor. Ahmedabad’s property picture is very competitive with a customer driven market and due to this it is a sound place for real estate investments. The organised workforce, significant contribution and investment from NRIs, the liberal policies of the state government on SEZs, and the enterprise of the local population are some of the factors that are responsible for the upward trends in Real Estate. The Ahmedabad property scenario is changing with a great pace and the market has revived well from last year’s slack and is slowly but surely picking itself up. However, a majority of the realtors believe that investing in pure lands will fairly give better returns than going in for residential houses and commercial shops. No doubt, there still remains a flowing demand for houses and the residential projects are serving well, but ten years down the line, a plot or an open land will fetch more and so it becomes advisable to materialise a deal into it. Not all investment in the city fetches good returns, blindfolded laying hands here and there leaves one in a great loss to reap. A perfect time and location also matters a great deal. The retail market in Ahmedabad has disappointed the developers. However, not all developers dismiss the retail infrastructure opportunity in the city; it is about investing in the right gist at a right time. Still the realty builders are cashing on the deep pockets of the local population and are laying out various commercial projects for the city. A number of retail malls are in pipeline and likely to finish in the near future. “We see a positive elevation in the Real Estate Industry of Ahmedabad. It has really evolved over the last couple of years wherein the developers are bringing in innovative ideas to enhance the living experience of enduser customers,” says Sachin Mehra, Director, Daemon Information Systems. The company which is managing the software systems for wide scale projects from Residential, Plotting, Commercial, Townships etc, believes in offering a stage to manage sales across by maximising sales opportunities and creating value for enduser customers. On an average around 40 percent of Gujarat is urban and 50 percent is set to become urban in the next 10 years and so in such a scenario more residential and commercials spaces, malls and parks development will become inevitable . Many infrastructure agencies are focusing on hospitability and tourism industry in Ahmedabad. Building five star business hotels, plazas and clubs seems to be a good idea in a city where industrialisation and business is on a threshold to expand. Looking at the brighter side, a thousand and one schemes are plotted in this city by big time developers. Nirav Hirpara, the co-director of Jayshri Structures comments that Ahmedabad’s property sector is burgeoning with developments as it comes across as an investor friendly market, assuring high returns on investments. He further suggests saying, “If you are looking for profitable investment options, go ahead and invest money in this city.” Many foreign architects and engineers are on the verge of creating a township spread across 300 lakhs square feet in Ahmedabad. With Niho coming up with an investment of Rs 180 crore, NRI funds gathered for exhibitioncum-convention centre, with DLF finalising for the city’s IT park and the SEZ projects by the Raheja Corp, Ahmedabad is likely to reach the peak of realty extensio