No appreciation in Ahmedabad property market
The data shared by Cushman & Wakefield (C&W) shows that the capital values of residential property in Ahmedabad has been slower than anticipated.
Even the posh areas in the city — Satellite, Vastrapur, SG Highway, and Prahlad Nagar — have grown at an mediocre seven per cent in the last 12 months ending June 2012.
The data shows that if an investor has invested in property in these areas located in the western part of the city, their investment has grown at a slower pace than even fixed deposits in a bank.
Be it the high-end houses costing over Rs 1 crore on the SG highway or mid-range homes in Satellite and Vastrapur – properties have shown no appreciation.
Real-estate experts further estimate that over 50,000 under-construction residential units in the western areas (SG Highway, SP Ring Road, Bopal, Vejalpur, New Ranip and New Prahlad Nagar) of the city will generate additional pressure on home prices in the city.
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