What Makes East Ahmedabad Attractive For Homebuyers, Developers?
While west Ahmedabad had once been a favourite among homebuyers and developers because of land availability and job economics, eastern parts of the city are also gaining popularity as real estate hotspots owing to several infrastructural developments. How so?
Infra push: The Metro is seen working its magic on eastern Ahmedabad. One of the aspirational projects, the Ahmedabad-Gandhinagar Metro’s east-west corridor is one of the major highlights of the region. The Metro line will connect the central business district of the city with residential areas in the east which will pass through areas such as Kankaria East, Amraiwadi, Rabari Colony, Vastral, etc. While the trial run between Vastral and Apparel Park will begin in January, the line is scheduled for completion in 2020.
Earlier in February, the Ahmedabad Municipal Corporation (AMC) allocated Rs 490 crore for development projects, showering the lion's share on the eastern part of the city. Apart from this, a flyover in Naroda is also proposed along with social amenities such as community hall, libraries, swimming pools and beautification of lakes. The AMC has also committed funds for broadening of roads, construction of traffic circles, pedestrian paths etc. Some of the focus areas are Asarwa and Jamalpur.
New launches and redevelopment: Developers have already made a beeline to acquire land parcels in the area and launch their projects. Nearly 75 per cent of the launches in the last 12 months were concentrated in this part of the city, and over 1,700 units were launched between October 2017 and September 2018, according to Realty Decoded, a quarterly report by PropTiger Datalabs, covering the top nine property markets in India. Apart from this, there are many old properties in the region which are undergoing redevelopment, promising good proposition for developers.
Focus areas: Areas such as Rabari Colony, Vastral, New Maninagar, Amralwadi are major hotspots of eastern Ahmedabad. There are around 45 projects in Rabari Colony and 19 projects in Maninagar in different stages of construction. A 2BHK is available here at a starting price of Rs 27 lakh while a 3BHK is available for Rs 42 lakh onwards. Most of these projects are scheduled for delivery in the next three years.