Infrastructural growth aids in realty development ~ Janshil Realty

With the rising economic curve of Gujarat, Ahmedabad’s real estate is emerging as one of the most appealing investment areas for domestic, national and international real estate investors. Real estate consultants have already predicted huge potential demand of real estate in almost every sector including retail, manufacturing, hospitality, health care and technology. However, the maximum growth has been attributed to the flourishing IT sector. The city has been witnessing a new era of commercial development with the advent of IT parks, SEZs and ports.

Infrastructure supports realty growth

Ahmedabad being the commercial capital of Gujarat has been one of the front runner cities in terms of infrastructural development. In fact, Ahmedabad has been in news for its superior infrastructure and good quality of life. Many buyers are now making a beeline for property in Ahmedabad. Numerous foreign companies have set up their base in and around the city as the city is only around 400 km from Mumbai, 900 km from Delhi and also near to the port.

At a time when developers across the major property markets of India, such as Delhi and Mumbai, are complaining about poor infrastructure, Ahmedabad is probably the only major city where developers are not. With the government focusing on investment and improving infrastructure, Ahmedabad is poised to grow vertically, as well as horizontally .

The city has been well planned by both the AMC and AUDA. At present, the new area development has been spearheaded by AUDA. In fact, AUDA is putting all the efforts to increase the real estate development in the city. It has already taken up the responsibility of being accountable for infrastructure enlargement across the city and the suburbs.

Analysts point out that real estate growth and infrastructure development are two sides of the same coin. “Ahmedabad has very good storm water drainage, future ready ring road system, award-winning Bus Rapid Transport System (BRTS) and stable power supply, among a host of other things that provide a solid foundation for growth.“

Further, social infrastructure is also one of the unique selling propositions (USPs) of Ahmedabad and the city has evolved in terms of private and government education, offering some of the best institutes for students. Premier schools, colleges and hospitals have seen their way into Ahmedabad’s real estate sector. These infrastructural developments are likely to have an overall impact on the city’s residential and commercial growth scenario.At present, the real estate market in Ahmedabad offers a mix of product categories comprising of residential apartments, bungalows, twin bungalows, row houses, plotted schemes, farm houses, commercial as well as retail spaces.

“The city, endowed with all the features essential and ideal for growth, has seen some major infrastructure developments. Key projects in the form of SEZs, hotels, integrated townships; gated communities as well as specialty townships such as financial products townships and IT corridors have come up in a big way in the city. Also, the city is well connected, internally as well as externally through its elaborate transit systems, adding to its commercial value. Thus, the last decade has seen Ahmedabad transform into an urban modernity of international standards.“

In a nutshell

Ahmedabad’s real estate scenario is undergoing a rampant change, with a slew of infrastructure developments taking place in the city. However, despite of all the infrastructural development, a lot more has to be done. Large scale planned development in retail space, mainly malls, speed up of the most desirable projects i.e., Gujarat International Finance-Tec City (GIFT) and Metro-link Express for Gandhinagar and Ahmedabad (MEGA) and speedy development in metro rail project can further aid in the growth of Ahmedabad realty market. These developments are expected to have a positive effect on not only the real estate sector but on the overall economy of the city as well.

With all the industrialisation and infrastructural activities booming in and around the city, Ahmedabad is showing an increment in the real estate sector. Upcoming ventures and its following growth will surely tag Ahmedabad as ‘A city within a city’.

Source: The Times of India.