Ahmedabad’s Booming Real Estate Sector
Ahmedabad's residential market was severely impacted by the Covid pandemic, experiencing a steep 69% year-on-year decline in sales volumes during the first half of 2020. However, the market has shown steady signs of recovery since then, with sales volumes increasing in each subsequent period. This recovery has been particularly pronounced in the first half of 2022, with sales volumes almost reaching pre-pandemic 2019 levels.
To keep pace with the growing population, Ahmedabad's real estate sector has experienced a surge, transforming itself into a market driven by end-users, rather than investors. The city's attractiveness to NRIs and investors has also contributed to its rising real estate market. Ahmedabad, the largest city in Gujarat, offers affordable property prices, excellent shopping centers, quality education, and facilities located along the Sabarmati River.
Several upcoming projects are also impacting the city's real estate, including the GIFT City project, a central business district located between Gandhinagar and Ahmedabad, which is currently under construction. This also increases the overall investment prospects in the city.