Blog

 Ahmedabad saw positive growth in 2024 in terms of real estate demand. In the first quarter of 2024, there was consistent demand across the SG Highway and Bopal for residential housing properties. These areas also became the most in-demand micro-markets as they are near the employment hubs and offer better connectivity to the city.

In 2024 Q1, the housing demands in the city increased by around 21.4%. The average property rates also saw a surge of 1.4%. Besides, the residential and commercial properties are on the rise too, in the real estate market of Ahmedabad.

With many such exciting developments in place, it is only logical to cover the 2024 real estate trends in Ahmedabad. This article will also explore what the future of real estate In Ahmedabad looks like. So, let's delve deeper into the trends and opportunities in the Ahmedabad real estate market.

Current State of Ahmedabad Real Estate

Ahmedabad's real estate market has experienced remarkable growth in recent years. Boasting a diverse range of properties, from luxurious apartments to commercial spaces, the city has become a hub for real estate activities. Recent statistics reveal a steady rise in property prices, indicating a robust demand-supply equilibrium. Factors such as improved infrastructure, connectivity, and the city's economic vibrancy contributed significantly to the flourishing real estate sector in Q2.

Let's take a look at the residential market in Q2 2024:

• Ahmedabad's residential real estate market saw healthy growth as 6194 units were launched in Q2 of 2024.
• The mid-segment contributed to around 55% of the launches.
• The Northern corridor (GIFT City, Peripheral North, and North) provided approximately 50% of the launches.

The commercial segment also saw massive growth along with the residential market. Here's the condition of the Ahmedabad real estate commercial market in 2024 Q2 and Q3:

• The demand for office spaces in Ahmedabad has been stable till Q3.
• Around 80% of commercial state leasing happened in the SBD market - around SG Highway and Iscon-Ambli Road.

Now that you're aware of the current market scenario, let's look at the future real estate trends in Ahmedabad.

2024 Real Estate Trends in Ahmedabad

Certain trends that will shape the real estate market of Ahmedabad in 2024 are as follows:

Increase in Vertical Construction

Being one of the fastest-growing cities with a strong economy, Ahmedabad is flourishing at a massive rate. With the city's rising growth and increasing population, there is a surge in the demand for high-rise buildings, especially in areas where land is scarce.

Hence, Ahmedabad will surely observe a rise in vertical construction to keep up with this demand. High-rise buildings will cope with the urban sprawl and prevent unwanted pressure on the city.

Sustainable and Innovative Designs

As the world is moving towards eco-friendliness and sustainability, Ahmedabad is no exception. The newly constructed or under-construction buildings in the city now integrate sustainable features such as green spaces and solar panels.

When these features are included, it will help to lower the carbon footprint. Many properties may also have living walls and vertical gardens that will help to improve air quality.

Impact of the Latest Real Estate Trends in Ahmedabad

The latest trends have significantly impacted the Ahmedabad real estate market.

Social and Cultural Impact

The high-rise buildings will have social and cultural impacts on surrounding areas. They can change the identity and character of the neighbourhood. However, there are also chances that some residents may feel separated or isolated.

Safety and Maintenance

Safety and maintenance of high-rise buildings have always been an important factor to consider. It can be difficult to keep tall buildings in their best condition. Hence, safety features like emergency exits and fire suppression systems will also have to be enhanced. All safety features need to be carefully planned and placed. Such planning helps to protect the occupants and residents.

Ahmedabad Real Estate Market Forecast

The Ahmedabad real estate market has seen considerable growth. Hence, the forecast for the future of Ahmedabad real estate is bright. Lower prices per square foot and affordability have been helpful for the growing demand for the residential real estate market. The city's real estate sector is expected to grow more because of the following:

• Infrastructure development
• Rapid industrialisation
• Good connectivity
• GIFT City

GIFT City is the first financial services center in Gandhinagar. It has been very visible in the past few years. Leading companies like Standard Chartered Plc, HSBC Ltd, Bank of America Corp., and more have offices here. Not only is it boosting the Indian trade, but also the residential market. All these factors make Ahmedabad an attractive investment hub.

Ahmedabad- An Investment Hub

Ahmedabad is quite popular for being an educational hub. However, it is now also expanding to other domains as new entrepreneurs in the city are growing. The growth of new businesses eventually is helping Ahmedabad become a new destination for commercial purposes.

Areas like Chimanlal Girdharlal Road, Sarkhej Gandhinagar Highway, and Prahladnagar are becoming popular commercial investment hubs. The city connects to railway stations, bus stations, and national highways. All these factors have contributed to Ahmedabad becoming one of the most popular places of investment.

Another factor contributing to Ahmedabad's popular commercial hub is its proximity to the International Airport and METRO project. Whether it's commercial or residential investment, these factors can be of great help.

Conclusion:

The trends are sure to be the driving force behind the future of real estate in Ahmedabad. Real estate investors can find various investment opportunities in this city. Buyers and investors should conduct proper research around the area of their choice. This helps them find the most trustworthy projects.

Ahmedabad Realty has brought up several flats for sale in Ahmedabad. Located on SG Highway, the property for sale in Ahmedabad by Realty boasts some of the most comfortable and luxurious structures. Township has properties from villas to senior-friendly homes to spacious flats.

 

Read More

Introduction:

Stamp obligation is a tax imposed on the sale of property/belongings possession via the country government. It is payable underneath Section three of the Indian Stamp Act, 1899.

The duration of the stamp responsibility on the time of registration will be based totally at the cost of the house/assets. It additionally varies based at the kingdom or location in which the property is placed, and whether or not it's miles a brand new or vintage house.

Stamp duty will be an additional fee you incur when you got down to buy immovable belongings, and it is, therefore, vital to knowledge the consequences for the nature and region of the residence you propose to buy.

Payment of Stamp Duty:

The fee of stamp duty should be rendered in complete. The series of the stamp duty ought to be completed on time, or it will incur fines. It is a prison file which can be utilized in court as evidence and has meaning.

Payment of the duty shall be made before the prison record is done, on the time of execution, or inside one operating day afterwards. The price typically is made through the belongings's customer. In the case of an alternate of goods, each the purchaser and the vendor will be at risk of pay stamp obligation equally.

The penalty for inadequate charge of the stamp duty will be levied at 2% per month and as much as a most of two hundred% on the quantity to be paid.

Points to Note:

            In the case of lack of crucial facts, the valuation officer would possibly keep in mind the file.

•           Details, together with the residence location, year of building, range of flooring, and many others. Are to be exact to finish the stamp duty procedure quick.

•           Stamp responsibility is payable at the sale of all real estate except those bought by means of Will.

•           When the applicant in the end transfers the belongings to a valid successor, such a switch must be made consistent with marketplace price.

 

What is the impact of increasing stamp duty on center magnificence people?

 A stamp duty increase in India notably impacts middle-magnificence human beings by making it extra high-priced to buy assets, thereby hindering their capacity to shop for houses, specifically in city regions, as the extra price at once eats into their disposable income and might make homeownership much less practicable; this will further exacerbate housing affordability problems and potentially result in behind schedule family making plans because of the added monetary burden

Key points about the effect of accelerated stamp responsibility on the middle magnificence:

•           Reduced affordability:

The direct impact is a better prematurely value when buying a house, making it tougher for center-elegance people to have the funds for their favored property size or vicinity.

•           Discourages homeownership:

Higher stamp duty can discourage people from getting into the housing market, particularly first-time homebuyers, as the extra price may be a great barrier.

•           Impact on funding:

For middle-magnificence people who view actual estate as an funding option, a better stamp obligation can lessen the capability return on investment, impacting their financial making plans.

•           Market slowdown:

Increased stamp responsibility can lead to a slowdown within the real property market, impacting creation sports and probably main to process losses in related sectors.

Potential mitigating elements:

•           Government schemes:

Some governments can also introduce schemes to subsidize stamp duty for first-time homebuyers or precise earnings brackets, aimed toward assuaging the load at the middle elegance.

•           Lower interest prices:

If interest charges on home loans are low, it may partially offset the impact of better stamp responsibility.

Read More