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By propraisePosted on Posted in Blog

Ahmedabad Real Estate Soars: 13% YoY Price Increase, Ranks Third in India!

Ahmedabad, One Of India’s Fastest-growing Cities, Has Emerged As A Key Player In The Real Estate Market, With Housing Prices Increasing By 13% Year-on-year (Yoy) By Q2 2024. This Remarkable Growth Places Ahmedabad Third In India For Price Escalation, Trailing Only Behind Delhi-ncr And Bengaluru. As The City Continues To Attract Buyers And Investors Alike, It Is Crucial To Understand The Factors Driving This Boom And Why Ahmedabad Is Becoming An Attractive Market For Real Estate Investment.

Table of Contents

  1. Overview of Ahmedabad’s Real Estate Market Surge
  2. Top Performing Areas in Ahmedabad
  3. Key Drivers Behind the Price Increase
  4. Comparison with Other Indian Cities
  5. Infrastructure and Livability Enhancements
  6. Investor Sentiment and Market Outlook
  7. Why Invest with PropRaise Realtors

1. Overview of Ahmedabad's Real Estate Market Surge

Ahmedabad Has Witnessed A Substantial 13% Increase In Housing Prices YoY, As Of Q2 2024, Positioning It As The Third Fastest-growing Real Estate Market In India, According To Data From CREDAI And Colliers. With The Average Housing Price Now At INR 7,335 Per Square Foot, Ahmedabad’s Market Growth Is Fueled By A Strong Demand For Affordable And Mid-segment Housing, Coupled With A Significant 8% Reduction In Unsold Inventory.


The City’s Real Estate Momentum Is Largely Attributed To The Burgeoning Demand For Homes, Especially Among First-time Buyers And Investors Looking For Lucrative Opportunities. With A Growing Influx Of Residents From Various Parts Of The Country, Ahmedabad’s Mix Of Affordability And Livability Continues To Attract Interest From Homebuyers.

2. Top Performing Areas in Ahmedabad

Emerging Neighborhoods In Ahmedabad, Such As Ambawadi, Bodakdev, Vastrapur, Memnagar, And Paldi, Have Shown Impressive Performance With An Annual Price Rise Of Around 16%. These Areas Are Becoming Increasingly Popular Due To Their Proximity To Key Business Districts, Educational Institutions, And Improved Connectivity.


Similarly, Eastern Localities Like Bapunagar And Maninagar Are Witnessing A Surge In Demand, Recording A 14% Rise In Property Prices. These Regions Are Benefiting From Rapid Urban Development And Enhanced Infrastructure, Which Are Making Them Attractive Options For Middle-income Families And Investors Seeking Long-term Value.

3. Key Drivers Behind the Price Increase

Several Factors Contribute To The Escalating Housing Prices In Ahmedabad:


Robust Demand: A Growing Middle Class, Increased Employment Opportunities, And A Rise In Disposable Incomes Are Driving Demand For Housing In Ahmedabad, Particularly In The Affordable And Mid-segment Categories.

Reduced Unsold Inventory: An 8% Reduction In Unsold Inventory Indicates A Healthy Market With Strong Buyer Engagement. This Trend Suggests That Developers Are Aligning Their Offerings Closely With Market Demand, Avoiding Over-supply And Keeping Prices Stable.


Infrastructure Development: Significant Improvements In Infrastructure, Such As The Expansion Of The Ahmedabad Metro, New Road Networks, And Enhanced Public Amenities, Have Bolstered The Appeal Of Various Localities, Making Them More Accessible And Desirable.

Policy Support: Government Initiatives Like The Pradhan Mantri Awas Yojana (PMAY) And Reduced Stamp Duty For Affordable Housing Purchases Have Further Incentivized Buyers, Contributing To The Overall Market Growth.

4. Comparison with Other Indian Cities

Nationally, Housing Prices Have Risen By An Average Of 12% YoY, Standing At An Average Of 10,804 Per Square Foot. Delhi-NCR Leads With A 30% Increase, Followed By Bengaluru At 28%. While Ahmedabad’s 13% Growth Is Significant, It Reflects A Balanced And Sustainable Market Compared To The Rapid Escalations Seen In Delhi-NCR And Bengaluru.
Unlike Some Markets That Face The Risk Of Price Corrections Due To Speculative Investments, Ahmedabad’s Growth Is Primarily Driven By End-user Demand, Which Ensures Long-term Stability. The City’s Price Trends Align Closely With Real Market Needs, Reducing The Likelihood Of A Housing Bubble.

5. Infrastructure and Worthwhile Enhancements

Ahmedabad’s Appeal Extends Beyond Just Real Estate. The City Is Recognized For Its Livability, Ranked As One Of The Top Cities In India For Quality Of Life. Infrastructure Enhancements Play A Pivotal Role In This Reputation, With Ongoing Projects Such As:
Ahmedabad Metro: Expanding Connectivity Across Key City Areas, Making Commuting Easier And Faster For Residents.
Riverfront Development: The Sabarmati Riverfront Is A Landmark Project That Has Transformed The City’s Landscape, Offering Recreational Spaces, Parks, And Commercial Hubs.


Educational And Healthcare Facilities: A Surge In World-class Schools, Colleges, And Hospitals Has Made Ahmedabad A Preferred Destination For Families, Further Boosting Demand For Residential Properties.

6. Investor Sentiment and Market Outlook

Investor Sentiment In Ahmedabad’s Real Estate Market Remains Positive, Bolstered By Consistent Price Growth And Robust Demand. As Unsold Inventories Continue To Decline, Developers Are Cautiously Optimistic, Focusing On Quality And Timely Project Deliveries.
The Market Outlook For Ahmedabad Appears Promising, With Sustained Interest From Both Local And Non-resident Investors. The City’s Balanced Growth Trajectory, Coupled With Proactive Urban Planning And Governance, Positions It As A Reliable Investment Destination.
(Source- https://www.propnewstime.com/)

7. Why Invest with PropRaise Realtors LLP?

Choosing The Right Real Estate Partner Is Crucial When Navigating Ahmedabad’s Dynamic Property Market. PropRaise Realtors Stands Out With A Commitment To Guiding Clients Through Every Step Of Their Investment Journey, Offering Insights, Expertise, And Personalized Service.

Here’s Why You Should Invest With PropRaise Realtors:
Expertise In Local Markets: With In-depth Knowledge Of Ahmedabad’s Real Estate Landscape, PropRaise Realtors Can Help Identify High-growth Areas And Opportunities Tailored To Your Investment Goals.


Client-centric Approach: Our Dedicated Team Focuses On Understanding Your Needs And Providing Customized Solutions, Whether You’re A First-time Buyer Or An Experienced Investor.


Proven Track Record: With Years Of Experience And Numerous Successful Projects, PropRaise Realtors Has Built A Reputation For Reliability, Transparency, And Excellence In Service.


Comprehensive Support: From Property Selection To Financing Options And After-sales Service, PropRaise Realtors Offers A Full Suite Of Services To Ensure A Seamless And Stress-free Experience.

Ahmedabad’s Real Estate Market Is On An Upward Trajectory, Driven By Strong Demand, Strategic Infrastructure Developments, And Favorable Market Conditions. As The City Continues To Grow And Evolve, It Presents Ample Opportunities For Investors Looking To Capitalize On Its Rising Housing Prices. By Partnering With PropRaise Realtors, You Can Confidently Navigate This Market And Make Informed Decisions That Align With Your Investment Objectives.

Ready To Invest In Ahmedabad’s Thriving Real Estate Market? Contact PropRaise Realtors Today And Take The First Step Towards Securing Your Dream Property In One Of India’s Most Promising Cities.

Ashutosh Shukla, CEO and Founder, PropRaise Realtors.  

Call us today: +91 9409374599, +91 8840055162 

Email: PROPRAISEREALTORS@GMAIL.COM

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Ahmedabad Real Estate Soars: 13% YoY Price Increase, Ranks Third in India!