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Unlike relatively posh enclaves such as Gurgaon and parts of South Mumbai, luxury apartments in Ahmedabad are not in as great demand as are affordable flats in the city. The city of Ahmedabad as yet does not find itself in a race to the top in terms of luxury where real estate developers in Ahmedabad try and outdo one another to create the most exclusive residences in the city. What bodes well is that property in Ahmedabad is well suited to the needs of those who do not necessarily seek exclusive homes in the city; there are a large number of projects in Ahmedabad which have units priced below 50 lakhs catering exclusively to budget homebuyers. <br>
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Mid Segment Homes and the Transformative Future of Property in Ahmedabad
It seems that property in Ahmedabad is well positioned to lure mid segment homebuyers and the city is creating developments to house such buyers. Currently the city of Ahmedabad has a fixed inventory of mid-level to budget housing and with new buyers coming into the market the prices of budget homes in some areas have increased 2 fold. As the city of Ahmedabad is a hub for migrants from all across the state of Gujrat as well as the rest of India, real estate in Ahmedabad is highly coveted and demand for the same is on the upswing, a demand which real estate developers in Ahmedabad are more than happy to cater to.
Unlike relatively posh enclaves such as Gurgaon and parts of South Mumbai, luxury apartments inAhmedabad are not in as great demand as are affordable flats in the city. The city of Ahmedabad as yet does not find itself in a race to the top in terms of luxury where real estate developers in Ahmedabad try and outdo one another to create the most exclusive residences in the city. What bodes well is that property in Ahmedabad is well suited to the needs of those who do not necessarily seek exclusive homes in the city; there are a large number of projects in Ahmedabad which have units priced below 50 lakhs catering exclusively to budget homebuyers.
Even today despite nearly 25 years of economic reforms across the country and in Gujarat, property in Ahmedabad is free from the sometimes gaudy developments which are often found in many other Indian metros. Often new property in Ahmedabad in keeping with the style of property that was often constructed at the turn of the century has a balanced appearance and does not display the unnecessary adornments which are found in new property in other larger real estate markets. Almost certainly over time the trend found in larger metro cities such as Mumbai shall invade the shores of this Gujarati city as well.
As today many of the top builders in Ahmedabad are busy developing homes often to cater to the mid segment homebuyer certain new initiatives by the government may drastically change the skyline of Ahmedabad in a short period of time. Recent proclamations by the Prime Minister of India have brought to the fore one of the most pressing concerns of both wealthy industrialists and the common man. Development in India is henceforth to occur in a transformative manner rather than happening incrementally. This is possibly the boldest statement regarding the future of the nation to be made since the time when reforms were first introduced a quarter century ago.
Transformative change implies change similar to that as has occurred in China over the past four decades during which time it leapfrogged ahead of India when formerly the two nations had relatively identical levels of per capita incomes. Such transformative change if implement correctly shall have a huge impact upon real estate projects in Ahmedabad and other cities as well. If we witness economic growth similar to that in China over the past few decades it will almost certainly give rise to cities which are larger in scope and size, the end result may even be the creation of entirely new cities where today there are only small towns or villages.
