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Ahmedabad: Over 4.6 lakh properties registered in last two years

Comments Off on Ahmedabad: Over 4.6 lakh properties registered in last two years   |   March 24, 2020    08:09pm   |Contributed by Indian Realty News

Ahmedabad witnessed registration of over 4.6 lakh property and land deals between February 2018 and February 2020. While the number of listings in 2018 was 2.31 lakh, it increased by 0.34 percent, i.e. 2.33 lakh in 2019.

Despite the overall slowdown in the real estate market, Ahmedabad observed as many as 4.65 lakh property registrations in the last two years. As per the estimates, nearly 2.31 lakh properties were listed in 2018 and about 2.33 lakh residential units  and plots were registered in 2019.

It is to be noted that the number of registrations in 2019 grew marginally by 795 documents as the online response remained meek. Of the 2.33 lakh properties listed during the last year, the payment of only 8,204 properties was processed digitally. On the flip side, overall revenue collection in 2019 declined by 1.4 percent to Rs 360 crore as against Rs 365 crore in 2018.

According to Ajay Patel, President, GIHED-CREDAI, the number of registrations has increased despite the slowdown which is a good sign for the real estate industry. It shows that the demand exists and end-users and investors are keen towards real estate investment in the city. Moreover, though the annual hike in registration is marginal, Ahmedabad has been able to maintain conversions.

News Published Under:   Ahmedabad | Comments Off on Ahmedabad: Over 4.6 lakh properties registered in last two years