Upcoming Metro Project Boosts Real Estate Market in Ahmedabad
The upcoming Metro Rail Project of Ahmedabad whose first phase has received approval is expected to cause a major boost in the real estate market of the city. The First phase shall be covering two corridors of North-South and East-West.
Any property buyer makes his or her purchase based on several factors, some of which include a good location, physical infrastructure and availability of basic amenities, suitable budget and communication. The approval of the Metro Rail Project which is expected to be covering APMC, Vasna to Motera Stadium in the North-South stretch and Thaltej Gam to Vastral Gam in East-West stretch will improve communication and transport across the city thereby imp acting real estate prices.
Metro belts in Ahmedabad and Gandhinagar are also being considered for investments that can promise good returns. Investing in residential properties with metro connectivity is considered ideal in most cities across India as price appreciation is more and commuting is also easier, says lead consultant of Capital Realtors, Nikunj Jain.
The metro line is planned to be laid through the main city of Ahmedabad and along the IT hub and Electronics Industry in Gandhinagar which will not only decongest the traffic marred areas of the city but also ensure rapid connectivity for commuters. It is also expected to significantly affect the future property buying trends.
Pricing: Since demand for property in an around the metro belt is expected to increase, the prices of property near this stretch have already started witnessing a rise and will go up further in the coming months. The rental market however remains unaffected. Investments are expected from the middle class who prefer to buy homes in close proximity to the metro.
Other projects: Apart from residential projects, banking and other forms of investment are also expected to increase in the metro belt. Harshil Estate consultant, Jitendra Soni states that returns for these investments are expected to escalate once the metro is functional rather than at present.
New projects and developments options have opened up in the areas of vacant land. Areas such as Sindhu Bhavan Road, Hebatpur etc. are expected to come up with new residential projects. Both buyers and sellers will now find ample reasons to invest in Ahmedabad finding scope for good returns.
Source: Indian Realty News
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