Read More About Ahmedabad & it's Real Estate Property Market
Ahmedabad also popularly known as ‘Amdavad’ among the locals is the largest city and former capital of Gujarat.
It is the administrative headquarters of the Ahmedabad district and also hosts the Gujarat High Court.
With a population of more than 7.2mn and an extended population of approx 8.4mn, it is the fifth largest city and seventh largest metropolitan area of India.
The city is located on the banks of the Sabarmati River, about 30 km from the state capital Gandhinagar.
Ahmedabad has emerged as an important economic and industrial hub in India.
It is the second largest producer of cotton in India, and houses the second oldest stock exchange in the country.
Cricket is a popular sport in Ahmedabad, and the 54,000-seat Sardar Patel Stadium a popular venue for matches.
The liberalisation of the economy has increasingly driven the city's economy towards tertiary sector activities like commerce, communication and construction.
Ahmedabad's increasing population has resulted in an increase in the construction and housing industries.
In 2010, it was ranked third in Forbes's list of fastest growing cities of the decade.
In 2012, The Times of India chose Ahmedabad as the best city to live in India.
As of 2014, the city’s estimated gross domestic product was approx US$119bn.
POPULAR TOURIST ATTRACTIONS:
Gandhi Ashram: A popular venue among tourists, it was home to Mahatma Gandhi and many other freedom fighters during the country’s struggle for independence. Hosts a museum filled with memorabilia related to the Mahatma Gandhi and the freedom struggle.
Kankaria Lake: Built by Sultan Kutubuddin in the 15th century, this 2.25kms lake includes a beautiful garden at its center called Nagina wadi. Also includes many other attractions like a toy train, food stalls, water rides and a tethered balloon ride that are popular among both adults and kids.
Sidi Sayed Masjid: Built in 1573, its one of the oldest mosques in the country. Still featuring the original marble stone on its wall, the mosque is also popular for its intricate Jaali (Net) that is often used to symbolize the city.
Manek Chowk: The venue for traditional and modern street food, this popular street located near Bhadra court has a variety of fast food options that range from local favourites to traditional Indian, Punjabi, Chinese, Mexican and Continental varieties
Lal Darwaja: A favourite haunt among shoppers and bargain hunters looking to buy traditional items in the city. It’s crowded with back-to-back stalls selling everything from cheap cosmetics, shoes, apparel and bags at thruway rates.
Vastrapur Lake: Located in the western part of the city it is the pride of Ahmedabad. Post its revamp in 2002 by the city’s municipal corporation it is a popular venue for walks among the city’s denizens during the mornings and evenings.
Motera Stadium (Sardar Patel stadium): This 54,000 seater cricket stadium at Motera is the state’s largest stadium built in 1982. It is a popular venue for many state-level, national-level and international cricket fixtures.
Jama Masjid: One of the city’s oldest mosques built in 1424 during the rule of Ahmed Shah. It has 15 domes and 260 spires. Once reserved for the private use by the Sultans, the mosque today is open to the public to offer prayers.
Ahmedabad lies at 23.03°N 72.58°E in western India at 53 metres above sea level, on the banks of the Sabarmati River, in north-central Gujarat.
It is the administrative headquarters of the Ahmedabad district and is administered by the Ahmedabad Municipal Corporation (AMC).
According to the 2014 census the population of Ahmedabad metropolitan area was approx 7,250,000.
It has an average literacy rate of 89.62 percent, with about 93.96 percent of the men and approx 84.81 percent of the women literate.
The city is home to a large population of Vanias (traders), belonging to the Vaishnav sect of Hinduism. Most of its residents are native Gujaratis.
In 2008, there were 2273 registered non-resident Indians living in Ahmedabad.
In 2010, Forbes magazine ranked Ahmedabad as India’s fastest-growing city and listed it as the third fastest-growing in the world after the Chinese cities of Chengdu and Chongqing.
In 2011, it was rated India's best megacity to live in by leading market research firm IMRB.
Three lakes lie within the city's limits—Kankaria, Vastrapur and Chandola.
According to the Bureau of Indian Standards, the town falls under seismic zone 3, in a scale of 2 to 5 (in order of increasing vulnerability to earthquakes).
Ahmedabad is divided by the Sabarmati into two physically distinct eastern and western regions.
The eastern bank of the river houses the old city, which includes the central town of Bhadra. This part of Ahmedabad is characterised by packed bazaars, the pol system of closely clustered buildings, and numerous places of worship.
The western part of the city houses educational institutions, modern buildings, residential areas, shopping malls, multiplexes and new business districts which are centered around roads such as Ashram Road, C. G. Road and the Sarkhej-Gandhinagar Highway.
Ahmedabad has a hot, semi-arid climate with marginally less rain than required for a tropical savanna climate.
There are three main seasons: summer, monsoon and winter. Aside from the monsoon season, the climate is extremely dry.
The weather is hot from March to June; the average summer maximum is 41 °C (106 °F), and the average minimum is 27 °C (81 °F).
From November to February, the average maximum temperature is 30 °C (86 °F), the average minimum is 15 °C (59 °F), and the climate is extremely dry.
Cold northerly winds are responsible for a mild chill in January. The southwest monsoon brings a humid climate from mid-June to mid-September.
The average annual rainfall is about 800mm (31 in), but infrequent heavy torrential rains cause local rivers to flood and it is not uncommon for droughts to occur.
The highest temperature recorded is 48.5 °C (119.3 °F).
Some of the most visited gardens in the city include Law Garden, Victoria Garden and Bal Vatika.
JOBS & EMPLOYMENT OPPORTUNITIES:
The gross domestic product of Ahmedabad was estimated at US$119 billion in 2014.
The RBI ranked Ahmedabad as the seventh largest deposit centre and seventh largest credit centre nationwide as of June 2012.
The city is the largest supplier of denim and one of the largest exporters of gemstones and jewellery in India.
The automobile industry is also an important economic driver to the city; after Tata's Nano project, Ford and Suzuki are planning to establish plants near Ahmedabad.
Two of the biggest pharma companies in India — Zydus Cadila and Torrent Pharmaceuticals – are also based in the city.
The Nirma group of industries, which runs a large number of detergent and chemical industrial units, has its corporate headquarters in the city.
The city also houses the corporate headquarters of the Adani Group, a multinational trading and infrastructure development company.
A NASSCOM survey in 2002 on the "Super Nine Indian Destinations" for IT-enabled services ranked Ahmedabad fifth among the top nine most competitive cities in the country.
Ahmedabad is the second largest cotton textile centre in India after Mumbai and the largest in Gujarat.
Gujarat Industrial Development Corporation has acquired land in Sanand taluka of Ahmedabad to set up three new industrial estates.
TRANSPORT & CONNECTIVITY:
Ahmedabad is one of the six operating divisions in the Western Railway zone.
It is well-connected by rail to other cities in the state and most major Indian cities.
Ahmedabad railway station, locally known as Kalupur station, is the main terminus. There are 11 other stations, including Maninagar.
The state government has initiated a feasibility study into the possibility of a mass-transit metro system for the cities of Ahmedabad and Gandhinagar.
Plans include the setting up of a new company – Metro Link Express for Gandhinagar and Ahmedabad (MEGA) – to execute the project.
NH- 8 linking Delhi to Mumbai, passes though the city and also connects it to the state capital Gandhinagar, Delhi and Mumbai.
NH 8-C also links Ahmedabad to Gandhinagar. It is connected to Vadodara through NE 1, a 94 km-long Expressway with twin exits.
This Expressway also forms part of the Golden Quadrilateral project.
The city also has a Bus Rapid Transit System (BRTS), which bagged the Sustainable Transport Award in 2010 instituted by the Institute for Transportation and Development Policy for reducing carbon emissions and improving residents' access.
The Ahmedabad Municipal Transport Service (AMTS), administered by the Ahmedabad Municipal Corporation, operates the public bus service in the city with a network of 750 buses.
The city also has an international airport - Sardar Vallabhbhai Patel International Airport – located approx 15 km from the city centre, which operates domestic and international flights.
It is the busiest airport in Gujarat and the eighth busiest in India with an average of 250 aircraft movements a day.
The Fedara International Airport is proposed near Fedara. It will be the largest airport in India with a total area of 7,500 hectares.
Ahmedabad is the commercial capital of the state and in recent times has become the symbol of the state’s progress on the infra development front.
The uninterrupted electricity and water supply, the wider roads and the rapid bus transit system (BRTS) have helped the city to cement its position as a manufacturing hub.
Careful planning and key infra projects undertaken by the Ahmedabad Urban Development Authority has resulted in the well-rounded growth of the city on the infrastructure front.
Despite growth in population from about 4.5mn in 2001 to 6.4mn in 2011, Ahmedabad has not imploded either due to traffic congestion or illegal constructions.
Its physical contours have clearly been shaped and moulded, unlike other Indian cities, many of which have not been able to accommodate population growth.
Urban planning in Ahmedabad is an age-hold tradition with the first town plans being drawn up almost a century ago, in 1915.
Ahmedabad’s concentric road network is also a huge asset in preventing congestion and facilitating peripheral expansion.
There are five clear rings and 17 radials of reasonable size, starting from the city centres and going straight out to the periphery.
Though traffic congestion has risen in recent times, it’s considerably lower than other metros due to the extensive road network and well-developed multi-modal public transport facilities.
Ahmedabad’s BRTS service, in particular, has attracted much attention for its detailed design and smart implementation.
With improved infrastructural facilities, many new manufacturers of automobiles, engineering and instruments have established themselves in the city.
Gujarat is an integral part of the Delhi Mumbai Industrial Corridor (DMIC), which aims at developing a network of industrial zones. Ahmedabad is expected to be an important link in this vital corridor.
REALTY MARKET OVERIVEW:
Ahmedabad’s real estate market is booming because of the huge growth of its industrial sector and excellent pace of urban development, both in commercial and residential terms.
It is the largest city of Gujarat, and also its commercial capital with a strong base of leading textile, pharmaceutical and chemical industry majors.
Apart from being a well-established education centre (with national institutes like IIM, NID and CEPT) Ahmedabad has also established itself as a major IT/ITeS and retail destination.
Mumbai-based realty developer Hiranandani Constructions has acquired a 30-acre land parcel near Sanathal junction on SG highway close to Ahmedabad and is looking to develop a mixed-use project with an investment of approx INR 1,000cr.
Apart from this, the company has also entered into an agreement with the state government wherein they have been allotted a 250,000-sq ft of built-up area to build a commercial complex at an estimated investment of INR 125cr.
Areas between Ahmedabad and Gandhinagar, such as Motera, Chandkheda, New C G Road, Vaishno Devi, SG Highway and Adalaj are expected to see maximum real estate development moving forward.
Developments of major projects along the corridor such as Riverfront, Gift City, IT parks (TCS, Infocity, and Raheja) are major realty drivers in the vicinity.
Proximity to the airport, railway station, BRTS corridor and proposed metro line are the added advantage to other developing areas in the city.
Flats, apartments, serviced apartments, bungalows, penthouses and township properties are cropping up all over to meet the demand. In the past, residential development in the city limited to individual bungalows.
New bungalow schemes can be found on the outskirts of Ahmedabad city, along the Sardar Patel Ring Road coming under zones R2 and R3.
The scarcity of land and expensive real estate prices in the city have ushered in a demand for apartments in the form of high-rise towers that are now mushrooming in the city.
Prime residential property areas in Ahmedabad include: Shahibaug (in the north), Satellite, Bodakdev, Vastrapur, Prahlad Nagar, Thaltej (in the west), Maninagar and areas around Kankaria and Chandola Lake in the southern and eastern parts of the city.
Expected growth corridors for realty development here are SG Road (Sarkhej-Gandhinagar Road), Sardar Patel Ring Road, Maninagar and on the north side of the Inner 132 ft Ring Road in areas like Nirnay Nagar and Ranip.
SG Road and Sardar Patel Ring Road in particular have witnessed a lot of residential bungalow/farm house type developments in the recent years.