Ahmedabad: A Smart City for Buying a Home

Jul 07, 2017 7:15 IST 720 views

Written by Anand Parmar

Thanks to the strategic location of Ahmedabad! The largest and former capital city of Gujarat is easily accessible to the African and Middle East markets. Being a centre of education, politics and trade & commerce, this attracts people from varied regions.

It houses a myriad of public and private sector companies, famous Indian Institute of Management, national and scientific institutions like Indian Space Research Organization (ISRO) and Physical Research laboratory (PRL).The increasing population accelerates the demand for housing. National Highway 8 connects Delhi to Mumbai, and it passes through Ahmedabad. Metro Rail is under construction and the length of the line is expected to be around 40 km. Infrastructure projects like Outer Ring Road & Bus Rapid Transit link areas within the city with ease. Buying a home in Ahmedabad is worth and we will suggest you 5 areas in this regard -

1. Bopal and South Bopal - Both these localities are preferred because of their affordable capital values. Even though these localities are far from the city, they are well-connected through SP Ring Road. Real estate agents active in the area say that they have seen an increase in the number of enquiries in past few months. The capital values in the locality range from Rs 2,950-3,750 per sq ft.

2. Satellite - Satellite, the expensive and well developed colony of Ahmedabad is at top in the list of most preferred localities. Proximity to commercial offices in Parhlad Nagar and decent connectivity to rest of the city are two major factors driving people to this area.

The capital values of apartment here ranges between Rs 4600 and Rs 5850 per sq ft. Satellite gets its connectivity from SG Highway and 132 feet Ring Road. Bus services are provided by both Ahmedabad Municipal Transport Services (AMTS) and Bus Rapid Transit System (BRTS). It is located 3 km away from Vastrapur Railway station, 9 km from Ahmedabad Railway station and 15 km away from Sardar Vallabhbhai Patel International Airport.

3. Gota - Gota is situated roughly 10 km from Ahmedabad. As it falls on the outskirts, the property prices here are affordable varying from Rs 2600-3000 per sq ft. Hence, middle-class people are more attracted towards the area. The locality however has all basic facilities and offers easy commuting to rest of the city through SG Highway.

4. Chandkheda - Chandkheda is least expensive among the top 10 localities. The capital values here range from Rs 2300-2850 per sq ft. People working in PSU companies, IT sector and Govt. colleges are here usually home buyers. Apart from having its own Chandkheda Railway station, the locality is connected to SP and 132 feet Ring Road. Bus services are provided by BRTS at regular intervals.

5. Maninagar - Proximity to industrial area, improved connectivity and robust development of basic infrastructural amenities are the reason behind the sudden emergence of this area in the list of preferred localities. Capital values here range from Rs 2900 to 3500 per sq ft. Several home buyers are those working in small and medium scale industries. For residential projects, the average price in the city varies from Rs 1800 to Rs 9,500 per sq. ft. IIFL Home loans, a leading housing finance company has 250+ approved projects, legally and technically verified.

Disclaimer
All content provided on this blog is for informational purposes only. The opinions provided herein are solely of the author and do not, in any which way, reflect the view(s) of IIFL Home Finance Limited. The author makes no representations with regard to the accuracy or completeness of any information available on this blog/site/ link on this site and shall not be liable for any errors or omissions on the account of the information provided herein. The information provided herein is basis the current market pattern and subject to change from time to time.

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