How Job Creation Lead to Increased Demand For Homes in Ahmedabad?

Availability of employment opportunities in any city is one of the biggest contributors in property demand there. Be it residential property or commercial property, job creation has a direct impact on the real estate market of any city.

Gurgaon and Bangalore are biggest examples of cities that grew rapidly just because of career opportunities available there. One new name in the list of cities growing due to job opportunities is Ahmedabad. Builders and developers in Ahmedabad are launching new projects every now and then to meet the increasing housing demand here. With the increased career opportunities generated by businesses, the city has become the focal point of interest for builders offering residential housing projects.

Working professionals look for homes close to their workplace for easy access to the office. Developers leverage the situation by launching projects in areas close to commercial hubs. They develop different types of housing projects to meet demands of varied homebuyers.

Not just end-users, investors also find these newly developed areas new commercial hubs beneficial. They search new projects in Ahmedabad to rent them out and get recurring income. Temporary employees have no plans to settle in the city and look for 1BHK and 2BHK rental homes. Property investors use their second homes to as rental property and help the working people find a suitable home.

When launching a project for working class in Ahmedabad, builders have to do a lot of research. They first understand their housing requirements, budget and other preferences to plan a project that fits into their every requirement. It also helps builders to get buyers for their project and sell all the inventories quickly. To meet housing requirements of high-income groups, they launch luxury apartments in Ahmedabad.

To gain maximum profit on the residential projects, both the developers as well as property investors in Ahmedabad should gauge the areas with high job creation. It will help them get an update about Infotech-driven residential demand in the city. 

There are currently policy and market fluctuations in the real estate industry. So, builders and home buyers should also consider these points when considering a residential project.

Post By Shrikant Sain

3 Reasons Renters Should Buy Property in Ahmedabad Soon

Indian real estate market has started the New Year with many positive notes. Infrastructure status to affordable housing segment, low-cost deposits and interest subvention of 3 and 4 percent for loans up to INR 12 and 9 lakh respectively under PMAY are some of the major contributors in improved market. Looking at the benefits of these announcements many builders in Ahmedabad and other major cities have launched many projects.

This is equally beneficial for the builders as well as home buyers. People, who have been living in rental homes for years and planning to buy property in Ahmedabad, can translate their dreams into reality now. Now you must be thinking about the right localities to buy home. So here are the top three areas where these moves by the government will prove to be more beneficial.

Localities with high rental yields

Buy vs rent calculators of different market experts suggest that buying a home is a better option now than renting a home. Though high rental yields seem more interesting to have rental properties, when you look at the low-interest rates, buying a home seems more profitable. The localities with 4% rental yields have properties at an interest rate as low as 7.75%. So it is better to buy a home there.

Upcoming localities with more affordable homes

The Pradhan Mantri Awas Yojana (PMAY) scheme giving home loan at just 5% interest rates makes it a better option to buy a home than renting it. Further, an affordable housing scheme in Ahmedabad makes it easier for people to arrange money for a home. People usually stay away from investing money in budget homes due to their location in outskirts of the cities. However, some initiatives by the government to help people get home in central locations will boost the sale of affordable homes.

Localities with a clash of dropping prices and higher rental yields

Among all these changes, some localities have seen falling prices at a pan-India level. Now if you look at the price of buying apartments in Ahmedabad and the rental yields, you will find it better to buy a flat.

The real estate market hasn’t yet reached the perfect state. However, the government is trying to win the confidence of the buyers; it will take some time to improve the sentiment.

Post By : Shrikant Sain

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Contact number: 7827456456

Email ID: propchill01@gmail.com

Let us explore into the rich past of Ahmedabad

Ahmedabad is a socially rich city that defines the amalgamation of a few societies dissolved together to make a legacy. People who are interested in the Ahmedabadproperty market will also be eager to know about the history of the city.

As far back as Ahmed Shah established the city in 1411, Ahmedabad has survived and flourished through the good and bad times of the previous six centuries as a little military settlement on the sandy banks of Sabarmati. "You don't need to go to the Acropolis, you have everything here," these were the expressions of the amazing planner Le Corbusier as he commended Ahmedabad.

Corbusier went to the city in 1951 to assemble Sanskar Kendra-what he called 'The Museum of Knowledge'. One thing he did when he went to Ahmedabad was that he went on a commonplace visit. He went by Manek Chowk and was astonished to see goldsmiths working together in little desk areas. Not able to check his interest, he gauged the shops; he likewise went to Sarkhej Roza. It was then that he chose to name builders and developers in Ahmedabad the 'Acropolis of India'.

Establishment of confidence

Sultan Ahmed Shah chose to move his capital from Anhilwada Patan and established the framework of Ahmedabad, somewhere in the range of 600 years back after he saw rabbits pursuing mutts on the banks of Sabarmati. Another legend says that he went gaga for lovely Teja, the little girl of Asha Bhil, who lived in Ashavad, which is today's Ashodia. However the Sultan's genuine motivation originated from Sarkhej, where a Sufi holy person by the name of Ahmed Khatau lived. He was the person who advised the ruler to move his base from Patan to Ahmedabad. The establishment of Ahmedabad lies in religion and confidence.

Emporium of the world

Ahmedabad was one of the primary blends of culture in the nation. In the event that Gujarat was India's entryway to the world, a significant part of the credit goes to this city. To start with, Lothal Port and after that Cambay Port built up Ahmedabad's matchless quality in the worldwide exchanging map. It likewise sent imports things, garments and valuable stones to whatever is left of the India and they began drawing in vendors. Students of history say that before sixteenth century's over, Ahmedabad had turned out to be one of the biggest and greatest exchanging focuses.

Octagonal odyssey

A mainstream vacation destination in ahmedabad is Adaj ni Vavis, well known for its entrance on just three sides. This is the step well made by sand stone in Indo-Islamic style of engineering with sensitive carvings. This fantastic structure with it’s expound and vigorously ornamented sanctuary like complete is an amalgamation of different components earth, shake and water. The perplexing botanical examples which are a piece of the Islamic style of design can be found in congruity with Hindu images which incorporate portrayal of creatures. The plentifully cut columns are situated at various levels of this Vav of Hindu and Jain societies.

The history of the Ahmendabad is very vast and rich. It is practically not possible to cover everything here. However, historically Ahmedabad had several rulers and events which decided the way for the  residential projects in Ahmedabad.

Post By : Shrikant Sain

The Up, Down, and Stagnation of Property in Ahmedabad Since 2011

Sales of premium property in Ahmedabad remained steady as the sales of flats in other segments dropped to their lowest level in six years. One of the leading real estate consultants in the country has revealed that the sales volumes of residential properties in Ahmedabad have reach the lowest point since 2011.  

Experts Corner

Real estate experts who work with one of the leading real estate consultants in the world have stated that during the second half of 2015, Ahmedabad property witnessed a recovery of 13 percent in the sales volume of real estate bought and sold when compared to the same period the year before. The trend that began in 2015 continued into 2016 with an increase in sales volumes of ten percent as compared to the first half of 2015. 

Can You Guess What Went Wrong in 2016?

In November of 2016 the government’s decision to demonetize high denomination bank notes brought real estate in Ahmedabad to a stand still. Builders and developers in Ahmedabad chose not announce any new projects and buyers too began to be cautious before choosing to commit to any purchases. Both builders and buyers began a wait and watch approach as post demonetization the markets grew uncertain. 

The Curious Case of Luxury Houses

Unexpectedly the volume of luxury property in Ahmedabad priced at one and half crore’s did not drop.  The number of luxury flats in Ahmedabad that were bought and sold remained steady and performed relatively better at the end of 2016 than did houses in other housing segments. Localities such as Ambawadi, Navrangpur, Prahlad Nagar, Vastrapur, and Satellite were the backdrops of numerous new projects during the past six months. Hence while the sales on houses in most segments fell dramatically post demonetization, the sales of luxury flats in Ahmedabad remained buoyant despite the ban on high denomination bank notes. 

New Launches Dipped

The number of new launches in the second half of 2016 was only 1,200, a fraction of the 4,000 new units launched in 2011. Almost fifty percent of the new launches at the end of last year were in the northern region of Ahmedabad. Localities such as Chandkheda, Ognaj, and Gota were the backdrops of a large number of new launches over the past six months. The second place in sales volumes of new launches in Ahmedabad goes to the west zone of Ahmedabad where 18 percent of the new launches were announced. Pertaining to property in Ahmedabad’s south region, new launches here have fallen drastically as builders in Ahmedabad here are still trying to offload inventory.  Even though 80 percent of the units among the upcoming projects in Ahmedabad in the southern region are priced below 25 lakhs, buyers are being cautious before investing here. 

Post By : Shrikant Sain

For more: propchill.com

Contact number: 7827456456

Email ID: propchill01@gmail.com

  

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