5 Costliest Localities In Ahmedabad
Eying a luxury property in Ahmedabad? The city's most desirable pin codes are commanding in crores, justifying the brand that it represents, the value that it adds to your real estate portfolio and the king-size feeling that it lends to a prospective home buyer. Here is a look at some of the luxury locations of Ahmedabad.
Bodakdev
At Rs 7,000 per sq ft, average capital values in Ahmedabad's Bodakdev is a reflection of the kind of housing brands that are entering this market. Do not be surprised to see projects commanding as much as Rs 10 crore in this locality. Spacious homes spread over 11,000 sq ft are up on sale.
A 3BHK unit could ask for as much as Rs 1.30 crore while 4BHK units command Rs 3.50 crore on an average. 5BHK and 6BHK units for those who wouldn't be taken aback by the prices in the market are up for sale for Rs 8 crore and above. Over the last 48 months, prices have grown yet again, by 20 per cent.
Ambli
On an average, capital values in Ambli stand at Rs 7,000 per sq ft. Property listings suggest that you may have to reserve a budget of Rs 1 crore even if you are looking out for a 2BHK unit. 3BHK units can command as much as Rs 1.60 crore while 4BHK units and higher configurations will need you to keep aside almost Rs 3 crore to 6 crore. In return, you would have access to some of the best housing brands and lifestyle amenities the housing industry can offer.
Ambli's pricing has always been on the higher side, with average values being close to Rs 6,000 per sq ft even in April 2013.
Satellite
At Rs 6,580 per sq ft, Satellite is a coveted destination for those looking at lifestyle over the price. 3BHK and 4BHK units herein may cost you anywhere between Rs 1.30 crore to Rs 3.50 crore which again would vary depending upon the brand of the developer, amenities provided to the potential buyer, exact location of the unit and age of the building.
In April 2013, average prices stood at Rs 4,700 per sq ft and thereafter Satellite seems to have been an investor's delight.
This area offers an array of housing options to the home buyers ranging from affordable apartments to luxury villas. This region has seen a lot of commercial and retail development in the past few years with numerous malls, 5-star hotels, restaurants and commercial buildings coming up.
Prahlad Nagar
With property values touching Rs 6,500 per sq ft on an average, Prahlad Nagar is a notable real estate market. What works for this locality is its easy connectivity, development and the variety of housing options it offers to those on a budget and preferring to rent or those looking to buy. Even on the yield meter, the returns on investment and the rental potential is high, making it an ideal destination to park your money.
Thanks to IT companies, KPOs, outsourcing companies, Prahlad Nagar gets an additional boost. On an average, you would need as much as Rs 84 lakh for a 2BHK unit, Rs 1.15 crore for a 3BHK unit, Rs 2.45 crore for a 4BHK unit and still luxurious properties would command as much as Rs 5.80 crore.
Ambavadi
Average property values in the locality stand at Rs 6,200 per sq ft and a cursory glance of listings on PropTiger will tell you that capital values are anywhere in the range of Rs 60 lakh to Rs 4.30 crore. In fact, as per a study by PropTiger, luxury inquiries and searches in this region are the maximum unlike most other localities in Ahmedabad where demand for affordable properties is maximum.
On an average, you would need to shell about Rs 70 lakh for a 2BHK unit, Rs 1.35 crore for a 3BHK unit and Rs 2.35 crore for a 4BHK unit.
Given the historic peak between the year 2013 and 2017, prices have fallen from Rs 6,875 per sq ft to the current average of Rs 6,200 per sq ft.
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These were the top five costliest localities in Ahmedabad in 2016, read on...
Ahmedabad, one of the fastest-growing cities in terms of industrial growth, is a promising real estate market, too. The city, which was named the best city to live in India by The Times of India in 2012, and was ranked the third-fastest-growing city by Forbes in 2014, has seen growth in buyers' and investors' interest in the recent past, especially in the luxury housing segment.
We look at the five localities in Ahmedabad where property rates have been the highest in the six months to June 2016. Offering premium properties, these localities may be the right fit for you if you want to own a luxury house in the city:
Located between Gandhinagar and Ahmedabad, Gift City is an upcoming business centre in Gujarat. It is spread across 886 acres. This locality is being designed to provide a world-class infrastructure, and this has triggered property price appreciation in the locality. The average property price in Gift City between January and June 2016 stood at Rs 7,412 per sq ft.
Situated on the banks of the river Sabarmati, Bhat is 24 kilometres from the Ahmedabad City centre, while the Sardar Vallabhbhai Patel International Airport is only 4.7 km from here. The average property price in Bhat during the six months to June 2016 stood at Rs 7,393 per sq ft.
Primarily a residential neighbouthood, Gurukul offers you everything that should attract a buyer's attention -- from smooth connectivity to social infrastructure. Property prices in this locality averaged Rs 7,325 per sq ft in the six months to June 2016.
Located in the in the western part of Ahmedabad and well-connected to other parts of the city via road and rail networks, Satellite has seen a number of commercial centres coming up in the past few years. These have made Satellite one of the most sought-after localities In Ahmedabad. The average property price in this locality from January to June 2016 stood at Rs 7,040 per sq ft.
Bodakdev is a popular locality in the suburb of SG Highway. It has a number of educational institutions and multi-specialty hospitals in the vicinity. The average price of apartments here averaged as high as Rs 6,621 per sq ft in the January-June 2016 period.
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With inputs from Sonia Minz
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