Housing in India

Ahmedabad is referred to as Gujarat’s commercial capital. It is also an important trade center. However, it has been observed that real estate market in Ahmedabad is not performing as it should be. This is mainly due to the fact that rate of inflation is high, cost of construction material has increased, and construction costs have escalated too.

 

There is one advantage in real estate market in Ahmedabad though. Owing to foreign investment in the realty market in the city, the property market has got a boost. Low cost homes in Ahmedabad are being constructed in some parts of the city.

 

Owing to recession, the purchasing power of individuals has been affected greatly. As such potential customers who were planning to invest in the property market have deferred their investment plans.

 

Most of the builders and developers are facing stagnation in the real estate market in Ahmedabad since there are very few buyers. In order to avoid stagnation, builders and developers have decided to sell homes in bulk. As such they are constructing low cost homes in Ahmedabad along with villas and apartments meant for the elite class. So, the real estate builders are laying more stress on getting the low cost homes in Ahmedabad sold.

 

Real estate market in Ahmedabad is not just about housing projects but it also includes the retail and commercial property market. There are a couple of real estate agents and brokers who will help you in a property deal. They help you in locating a proper rental property, look for a prospective buyer or seller of your property. They charge a nominal fee for offering their services. If you are planning to locate low cost homes in Ahmedabad, you can seek assistance of real estate brokers in the city.

 

TATA Housing which is the realty wing of the TATA Group is planning to come up with low cost homes in Ahmedabad and various other cities in the country.

 

There is a local builder Santosh Associates which announced in 2009 that it would build low cost homes in Ahmedabad. In Phase 1 of the project as many as 1000 homes would be built in 2 years. The price of these homes would range between Rs 3.5 lakh to Rs 6 lakh. And they would be mainly 2BHK as well as 3BHK apartments.

 

Another low cost housing project in Lambha Vatva is a low cost residential project in Ahmedabad which is said to be unique. It is expected to mainly cater to the MIG or the Middle Income Group.