123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Real-Estate-and-Foreclosure >> View Article

Property In Ahmedabad Under The Crunch Of Price Escalation

By Author: vinay kumar
Total Articles: 54

The real estate prices in Ahmedabad city have not seen much appreciation in 2013. Year, the current rates are not affordable enough for the property buyers. In spite of being a tier-II city, it carries an average per square feet rate ranging in 5000-6000/- in pricey localities. This psf gamut is extortionate for the middle-income groups. Compared to the tier-I Indian cities, the rates may seem to be lower, but the current prices are high-priced for most buyers. Cities like Satellite, Bodakdev, and Prahlad Nagar that carry hefty housing prices, are in the reach of only the uppermost strata of society. While an average buyer is unable to purchase a residential property rate in 35-40 lakh, their accessibility to high-end ones is only a dream.


According to Mukesh Kumar, area manager, GIC Housing Finance Ltd., property in Ahmedabad has appreciated, but the salaries of lower and middle-income brackets have not escalated accordingly. Though the Residex by NHB(National Housing Bank) in the city in Q3, Jul-Sep quarter has seen a marginal growth of only 6%, yet this swelling has proved too much for many buyers. The Residex last year during Jul-Sep quarter was 180, and in the corresponding period in 2013, it rose to 186.


As the Indian economy is burdened heavily with liquidity crunch, slashing down of rates is not possible. In light of such a scenario, the developers of Ahmedabad property have come up with several schemes under which they are offering the purchasers good discounts on every sale. In addition to freebies, some of them are ready to give slash down the prices as low as 30%. Such a huge depreciation is good for end-users. In West Ahmedabad, the residential properties are seeing some price correction. Areas like Bodakdev, Thaltej, Vastrapur, and several others have a situation of oversupply. With limited number of buyers, the prices have gone down. So, purchasing right now can be an advisable option. The price appreciation is one thing. The other factors that have balked city's real estate growth include lack of any concrete laws that could bring transparency in transactions, hefty land rates, and high number of irregularities.


It requires equal participation of authorities as well as developers to take the corrective measures, if the condition of buyers' market is to be ameliorated. Lately, some of the builders have come up with some unique ways of attracting customers: in addition to lowering the rates, they are now coming up with contemporary designs to allure them to into buying.


Rent and sell residential and commercial property and buy house in Ahmedabad. Get selective results by using a number of filters like locality, price, age, and type of Ahmedabad housing.

Total Views: 71Word Count: 448See All articles From Author

Real Estate and Foreclosure Articles

1. Importance Of Floor Planning In Effective Luxury Home Designs
Author: Leila Adam

2. How Texas’ New School Rating System Will Affect Houston Housing?
Author: Caroline Allison

3. Residential Ongoing Projects In Pune With Great Surrounding
Author: suyoggroup

4. Top Advantages Of Selling Your Homes To ‘we Buy Homes’ Companies
Author: Mason Dexter

5. Brigade Omega
Author: Antara Sahu

6. Where To Look For Homes For Sale 89135?
Author: Sia Benet

7. Houston Corporate Housings – Check Out Its Benefits For Executives
Author: Candice Wheat

8. 5 Essential Methods One Must Learn Before Purchasing Flats In Raipur
Author: Wallfort Property

9. Real Estate Broker Of Record Agreement Fl Allows Starting Your Own Company And Earning Your Own Inco
Author: johnvinly

10. The Serene Getaway Far From The Exasperating City Life
Author: Reema

11. The Various Flats & Holiday Homes Ready For Sale At Puri
Author: John Watson

12. Renting V Buying Your Own Home
Author: KeyaHomes

13. Find The House Of Your Dreams With Sunshine Coast Real Estate
Author: Todd Baker

14. Sean Zarinegar-raising Arizona
Author: Sean Zarinegar

15. Paras One33 Noida – Start Your Business At Affordable Budget
Author: Rohit Sharma

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: