Real estate in Ahmedabad gets boost by infra development
Ahmedabad – The Ahmedabad city is undergoing a major transformation which include infrastructure development, new residential projects etc. In whole, the real estate market of Ahmedabad has gained stability and is now ready to see more growth in near future.
Many commercial and residential projects in Ahmedabad are likely to grow with their execution.
According to the developers, the Town Planning and infrastructure policy by the state government has contributed a lot for the growth of city. It is expected that these drivers will continue to do so in the near future.
The name of few major infrastructural projects which were completed recently in state are Outer Ring Road (ORR) project in Ahmedabad, Bus Rapid Transit System (BRTS) in Ahmedabad and Info City in Gandhinagar.
The completion of ORR project has impacted real estate market of Gandhinagar, Bopal, Ranip and Shilaj with increased demand of residential projects. This increased demand has automatically led to increased prices. ORR provides excellent connectivity to other parts of the city. This ORR stretch in Ahmedabad will soon become an affordable residential hub as planned by the new Growth and Development Control Regulation (GDCR).
Due to the completion of BRTS, the nearby localities like Kankaria and Vadaj reported growth and similar growth is expected in other localities like Bopal, Naroda and Gurukul. Info city in Gandhinagar provides build-up space, IT Plots, residential units, educational facilitates, lifestyle facilities etc.
Few other projects which are in queue are the Sabarmati Riverfront, Ahmedabad-Gandhinagar metro rail project and the Gujarat International Finance Tech-City (GIFT City).
Sabarmati Riverfront project, initiated by Ahmedabad Municipal Corporation (AMC) will also indirectly contribute to the economic development of the city. Along with restoring water, it will also attract tourists.
The cost of first phase of the metro project has been revised and finalised and is expected to complete in three and a half years. Although it will benefit many areas but the surrounding areas of Sarkhej Gandhinagar (SG) highway will be benefited the most.
The completion of GIFT city will provide quality infrastructural development which will facilitate the operations of many reputed finance and tech firms. The special economic zone (SEZ) will generate many employment opportunities which in turn will increase the demand of residential projects in and around Gandhinagar.
Besides these infrastructural developments, many commercial and residential projects are coming up in the city. These developments will also add fuel to the growth of real estate market of Ahmedabad.
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