Thursday, 9 March 2017

How NRIs Are Affecting Real Estate Property in Ahmedabad

Ahmedabad’s real estate market has been evolving gradually. When talking about the major home buyers, the market caters to the demand of mid-segment home buyers. The city has traditionally been a cost-conscious market with high demand for affordable housing in Ahmedabad. But in recent past, the city has seen an increased number of luxury projects. Apart from the shift in housing segment, the point to be noticed here is that the demand is increasing at a time when the overall market is showing signals of slowdown.

The reason behind increasing number of luxury projects by top builders in Ahmedabad is demand from the non-resident Indians (NRIs). As per a recent report, almost 52% NRIs are planning to come back to India and settle here. They further find real estate market a safe and reliable option to invest their savings. After spending a luxury lifestyle abroad, these NRIs expect to get the same experience in India, thereby playing a vital role in growing luxury housing segment.

Difference in new projects

There was a time when luxury projects used to be defined by merely extra space, but the situation has changed now. New projects in Ahmedabad are now launched with state-of-the-art amenities like gymnasium, elevators, lifts, landscapes, personal swimming pool, retail complexes within the residential complexes and round-the-clock security. The city already has 2-3 good golf township projects to meet the class and lifestyle of NRIs. Along with residential projects for personal use, NRIs also put money in commercial and affordable housing projects as an investment.

Future potential of real estate property in Ahmedabad

Looking at the ongoing and planned infrastructure projects, the city can become one of the best luxury destinations in India. New real estate developments, smooth connectivity to other cities and ample job opportunities due to growing industrialization further contribute in increasing demand for real estate property in Ahmedabad.

A number of top builders are coming up with new projects in Property to cater the requirements of NRIs as well as Indian home buyers. It gives home buyers more choices to put in their money and get high returns from it.

Though it is the beginning of luxury housing in the city, the developers are trying their best to meet the expectations of high net worth home buyers. There is a lot of scope for the investors as well who are not able to find the right property in metro cities like Mumbai and Gurgaon.

Post By : Shrikant sain
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