Ahmedabad metro to push city’s real estate market
Apart from a suitable budget and a strategic location, physical infrastructure also plays an important roll in the decision of buying a property. The approval for the Ahmedabad Metro Rail Project Phase-1 is expected to lift the real estate market of the city.
The metro phase 1 stretch covers two corridors – the North-South corridor starting from APMC, Vasna to Motera Stadium followed by the East-West corridor starting from Thaltej Gam to Vastral Gam.
If you are planning to buy a house in Ahmedabad, then localities near the upcoming Ahmedabad to Gandhinagar metro belt can be considered for good returns. “In almost all metropolitan cities across India, investing near the metro connectivity is considered ideal in terms of price appreciation and easy commute. Rapidly developing Ahmedabad has one more reason for the face-lift of its real estate sector,” says Nikunj Jani, lead consultant, Capital realtors.
Connectivity directly affects a buyer’s decision of selecting a locality. The upcoming metro belt will pass through the main city of Ahmedabad to the hub of IT and electronics industry (Gandhinagar). It will decongest some of the traffic marred areas of the city and will also ensure rapid connectivity to commuters.
Would the new metro lines affect property prices?
“The prices of property near the metro stretch have already started witnessing a rise and in future are expected to go up further. However, at present, the rental market stays unaffected” adds Jani. The middle class is expected to invest in these areas as home buyers from this segment prefer to live in areas having good metro connectivity.
“The returns on investment in areas within close proximity to the new metro routes are expected to be high. Many individuals already living in their own accommodation in Ahmedabad are banking on properties near the metro belt, to enjoy healthy returns once the metro is functional,” says Jitendra Soni, consultant, Harshil Estate.
Would the metro line bring new construction plans?
The upcoming metro belt comes with a scope of new development in areas with available vacant land. Hiren Patil, a local realtor at Disha Estate Management says, “Areas such as Hebatpur, Sindhu Bhavan Road and 5 km from Thaltej metro station, land is available where developers are planning to come up with residential housing projects.”
All these areas are within 3-6 km radius from the upcoming Thaltej Gam Metro Station. Prior to the announcement of the metro, these areas had a sizeable demand for housing but with the coming of the metro, the area is expected to witness more development and investments.
Upcoming metro routes
Localities to become accessible due to the upcoming metro are Motera Stadium, Sabarmati, AEC, Sabarmati Railway Station, Ranip, Juna Vajad, Usmanpura, Ashram Road, Nava Gandhigram, Madalpur, Paldi, Anjali, Vasna, APMC, Thaltej, Doordarshan Kendra, Gurukul Road, Commerce Six Road, Stadium, Ashram Road, Shahpur, Gheekanta, Kalupur Railway Station, Kanakaria East, Apparel park, Amraiwadi, Rabri Colony, Vastral and Nirat Cross Road.
Both buyers and investors have ample reasons to invest in Ahmedabad, with the new metro line set to bring enhanced connectivity and might work as an added reason for investment.
Source: ET
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