Monthly Watch: New Launches In Ahmedabad Fall By 30%
A month-on-month comparison of property market trends in Ahmedabad shows only one remarkable change — a decline in sales in October over the previous month. Other factors largely remained the same as September, according to a PropTiger DataLabs monthly report.
The decline in new project launches in Ahmedabad continued in October, too. Over September, project launches declined 30 per cent in October. In September, too, launches had gone down 58 per cent over the previous month. According to the report, a 100 per cent decline was seen in the luxury housing segment.
However, developers are still seen betting on the bright prospects of Ahmedabad real estate. Among the developers who launched their projects in Ahmedabad in October were Aryan Infrabuilt, Avirat Developers, Pavanj Developers and Sun Builders. These launches were mostly concentrated in localities such as Bopal, Chandkheda and Shilaj.
However, unlike September when home sales had registered a monthly increase of seven per cent, October saw a fall in numbers. Home sales in Ahmedabad saw a decline of 11 per cent in October. Annually, the decline was even sharper, standing at 16 per cent.
Among the top-performing localities in Ahmedabad in October were Nava Naroda, Chandkheda, localities along the SG Highway, Gota and Bopal. They contributed the highest to sales in the month. These localities offer home buyers affordable property options.
According to the PropTiger DataLabs report, property prices remained range-bound across segments for the month. A similar trend was seen on an annual basis, too. However, localities like Nana Chiloda, Vasna and Chanakyapuri saw property prices going up between seven and ten per cent on an annual basis.