Ahmedabad is the fifth largest city in India. A large population and a growing labor force have helped India emerge as a major economic and industrial center. An influx of professionals, especially after the pandemic, has boosted residential property sales in the country.
A total of 8197 residential units have been sold in Ahmedabad till June 2022. That’s up from 4,208 units in the same period in 2021. Sales are up, with a 3% increase in house prices.
Moreover, Ahmedabad saw a 67% increase in new housing projects in early 2022. By mid-2022, 10,385 apartments were completed, and in the same period of 2021 – 6,226 new apartments.
Let us understand how investing in residential properties in Ahmedabad can be profitable:
Top reasons to invest in real estate in Ahmedabad
Below are some reasons that will motivate you to invest in residential properties in Ahmedabad:
- Cleanliness and first-class amenities –
Ahmedabad’s modern residential areas are famous for their advanced amenities and vast green spaces. The city has clean, well-maintained streets and pollution levels are low. According to Swachh Survekshan 2020, Ahmedabad is the fifth cleanest city in India.
- Education Hub –
Now the city has become a major educational center. Many students from all over the country come to this city for quality education. IIM Ahmedabad, the dream business school of all MBA aspirants, is located here. Therefore, investing in residential places in Ahmedabad seems to be worth it.
- Hub of Employment –
This city is full of job opportunities. Many operating units of world-renowned companies such as Tata Motors, Suzuki, Honda, and Hero Moto Corp make it a major hub for the automotive industry. Furthermore, development and connectivity are the main reasons that attract investors to the city.
Things to keep in mind before buying a residential property in Ahmedabad
Following are some things to consider before buying a residential property in Ahmedabad.
- Research well–
Since the cost of real estate depends on the level of development of the area, you should do careful research and choose a location according to your budget and also check the schools, colleges, markets, hospitals, and other facilities available in the area.
- Check the developer’s credentials-
All reputed builders in Ahmedabad comply with the Real Estate (Regulation and Development) Act, 2016 (RERA). The idea is to invest in a property that is built by a reputed builder that adheres to the provisions of RERA. The Government of India has enacted this Act to protect the interests of buyers in real estate and to establish an arbitration mechanism for the speedy redressal of complaints.
- Connectivity-
This is another factor to consider before investing in residential property. The place where you invest should have good accessibility to railway stations, airports, and educational institutions.
- check out the neighborhood-
No one wants to live in an unhygienic area. Prospective buyers always prefer to live in a residential property in a safe and clean environment. Check the location of cleared streets and the condition of the neighborhood before you decide to buy.
