Ahmedabad's Booming Real Estate Market: Housing Prices Up 49% in 6 Years
The average price of real estate in Ahmedabad rose by 49% between 2018 and 1H 2024, with a 16% appreciation in the last year, indicating a consistent upward trend in the market.
Real EstateAhmedabadHousing PricesCredai AhmedabadAnarock GroupReal EstateJul 31, 2024
This growth can be attributed to the various government policy initiatives and measures that have supported the sector's expansion and facilitated recovery in the post-pandemic period. The report highlights that the past decade has seen the city witness remarkable industrial and infrastructure growth, leading to abundant job opportunities and attracting talent from various regions.
The residential real estate sales volume across Ahmedabad saw a highest-ever peak of approximately 40,020 units in 2023. The city is known as one of the most affordable residential markets compared to the top 7 cities of India and has witnessed a significant shift in the supply dynamics. The affordable segment's share in overall supply declined from 54% in 2018 to 28% in 1H 2024.
There are over 64,650 residential units available in the city, with a significant decline of 13% when compared to the same period in the previous year, and an 8% decline from the end of the previous year. This indicates high sales momentum during the last few quarters.
CREDAI Ahmedabad is the Ahmedabad chapter of the Confederation of Real Estate Developers' Associations of India (CREDAI), a leading national apex body of private real estate developers in India.Anarock Group is a leading real estate consultancy firm in India, providing comprehensive advisory services to its clients.
Frequently Asked Questions
What is the percentage increase in housing prices in Ahmedabad over the past six years?
49%
What is the average price of real estate in Ahmedabad as of 1H 2024?
Rs 5,925 per square foot
How many residential units were sold in Ahmedabad in 2023?
Approximately 40,020 units
What is the total number of residential units available in Ahmedabad?
Over 64,650 units
What is the decline in available supply of residential units in Ahmedabad compared to the previous year?
13%
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