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%
Related News Articles
YEIDA Extends Deadline for Housing Plot Scheme Near Noida Airport: A Boost for Real Estate Investors
The scheme offers various plot sizes and pricing options, catering to different investment needs. With its strategic location near the Noida Airport, the scheme is expected to attract significant interest from real estate investors.
Prestige Group Expands in Mumbai with Rs 291 Cr Land Purchase for Residential Project
The Prestige Group is making significant strides in Mumbai with a Rs 291 crore land acquisition for a new residential project. This move not only bolsters their presence in the residential segment but also extends their reach into office spaces, retail, a
U.S. New Home Sales Fall 17.3% in October 2024
New home sales in the United States plummeted 17.3% to a seasonally adjusted annual rate of 610,000 units in October, the lowest level since December 2022, according to the Commerce Department's Census Bureau. This decline was largely attributed to rising
Mumbai's First Elevated Forest Walkway Set to Open in Malabar Hill Soon
Mumbai is set to get its first elevated forest walkway in Malabar Hill, a project that aims to enhance the city's green spaces and promote eco-friendly tourism. Construction is underway, and the walkway is expected to be a major attraction for both locals
RVNL Bags Rs 2.70 Billion Metro Station Project in Maharashtra
Rashtriya Vayu Sena Nirman Limited (RVNL) has secured a Rs 2.70 billion contract from Maharashtra Metro Rail Corporation Ltd to construct 10 elevated metro stations in Maharashtra. This significant project is poised to enhance the state's urban infrastruc
Was Shamsud Din Jabbar a Property Manager at Blue Meadow Properties in Texas?
In a purported YouTube video, Shamsud-Din Jabbar introduces himself as a property manager based in Texas, stating, 'I am Shamsud-Din Jabbar, Team Lead for the Midas Group and Property Manager at Blue Meadow Properties.' He also mentions his 10 years of mi