Property market overview October 2011 - Ahmedabad
Ahmedabad is the 7th most populous city in India. Real estate activities in the city have gathered pace over the past 2-3 years. Ahmedabad boasts of a relatively better city infrastructure with well maintained roads which have become a showcase for the city. Property prices in the city have been on an uptrend since Oct’09. In spite of an overall slowdown in property market owing to high interest rate and inflation, the city has experienced a near 13% jump in property prices over the past 7-8 months. Among areas, Ahmedabad West is the main property hot spot and sees maximum concentration among property seekers.
Top 5 localities in Ahmedabad on the basis of maximum real estate action are Satellite, Prahlad Nagar, Bopal, Bodakdev and SG Highway. The average per square feet (psf) rate for the city is around 4470/- although some new project launches have taken place in the premium segment as well.