Ahmedabad’s residential market has witnessed remarkable evolution over the years. Once known for its historical significance and architectural marvels, the city has seamlessly adapted to the demands of contemporary living. Its journey from ancient heritage to urban vibrancy is evident in the variety of housing options available today.
A thriving market for home buyers and tenants alike
Like most major developing regions, Ahmedabad’s real estate landscape is greatly influenced by its economic growth. As the city continues to expand its industrial, commercial, and educational sectors, there is a strong influx of professionals, students, and job seekers that fuels the demand for housing, leading to fast-paced development in its real estate market. The second quarter of 2023 alone saw sales transaction of around 8,450 housing units in the region.
Ahmedabad’s residential market also thrives on its affordability and accessibility. With a range of price brackets to choose from, the city provides options for various budgets, making homeownership a reality for a wide spectrum of individuals and families. Ahmedabad also offers a wide range of rental housing options, from budget-friendly apartments to upscale villas and gated communities. This diversity caters to the varied needs and preferences of renters.
Where are people looking to rent a home in Ahmedabad?
The online search trends for home rentals in Ahmedabad provide valuable insights into the preferences and priorities of prospective tenants in the city. Interestingly, several localities spread across the city have emerged as sought-after neighbourhoods for rented accommodation.
Ghatlodia in the northwestern part of Ahmedabad and Gota in the north were the most searched neighbourhoods online by potential home renters in the city. These locations were closely followed by others such as Chandkheda, Satellite and Prahlad Nagar.
The heightened interest in these areas can be attributed to several factors. Locations such as Ghatlodia and Gota in the northern zone are well-connected to key employment centres, educational institutions, and commercial districts, making them convenient choices for many prospective tenants. These neighbourhoods have witnessed infrastructural development and urbanization in recent years, resulting in improved amenities and a higher standard of living. The combination of accessibility and quality of life makes them attractive to a diverse range of residents, from professionals to families and students. The average rental value of homes in Gota and Ghatlodia are in the range of INR 20,500-21,000/month to INR 16,000-16,500/month respectively.
Additionally, neighbourhoods like Chandkheda, Satellite, and Prahlad Nagar closely following in online searches also underscore the significance of factors such as proximity to workplaces, educational institutions, and lifestyle amenities. Chandkheda, for instance, is known for its educational institutions, while Satellite and Prahlad Nagar offer a blend of modern living and commercial conveniences. The average rental values quoted for an accommodation in these locations vary from INR 18,000/month to INR 38,000/month.
Meanwhile, Chandkheda followed by Gota were most searched online for home buying. These neighbourhoods have piqued the interest of prospective homebuyers as well, showcasing their growing popularity. The residential property prices quoted in Chandkheda hovers around INR 3,500/sqft to INR 4,000/sqft, while prices in Gota are in range of INR 4,500/sqft to INR 5,000/sqft.
Summing up
Ahmedabad's proactive infrastructure development and improved connectivity have enhanced the overall living experience in the city, fuelling the demand for rental accommodations. The search trends enumerated here reflect the dynamic nature of Ahmedabad's rental market, where potential tenants seek not only comfortable and well-located homes but also areas that align with their lifestyle and daily needs. As the city continues to evolve and expand, these neighbourhoods are likely to remain in high demand, shaping the future of Ahmedabad's real estate landscape.
