Future Of Real Estate Market In Ahmedabad

Buy sell Property & Real Estate Investment Guide

Buying Property Tips#1: Choose the Right Location
Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.
Buying Property Tips#2: Study the Local Market Dynamics
It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.

The city is steadily marching ahead making its way to become a developed state that has all the amenities to make it a prosperous dwelling hub for all. An amalgamation of all these factors has made it a popular residential destination. Despite the city being the commercial center it has not compromised on the green factor, the city is lush green which embellishes its overall appearance. The panorama of the city is such that everyone wishes to reside in the city. Another factor that makes Ahmedabad a great place to reside is that city has been able to withhold its old charm despite of modern organization. It can be said that Ahmedabad real estate is a blend of old and new.

Growth of Real Estate in Ahmedabad

The Real Estate in Ahmedabad has seen an unprecedented level of growth primarily because of its friendly governance. Apart from being a residential hot spot the city is also famous for its commercial centers. The city offers great returns on investment in Real Estate which makes it popular among the developers and others from the Real Estate fraternity. Coming to its commercial growth, areas like Prahaladnagar, Ashram Road, SG Road and some portion of eastern Gujarat is considered to be a prime location for any commercial setup. Moving on to the residential hub, areas like Bopal, Bodkadev , Nava Naroda, Nicol and New Ranip are areas that are in high demand for residential space.

Buying Property Tips#3: Choose the Right Property
Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.
Buying Property Tips#4: Do the Math Properly
Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.
Buying Property Tips#5: Consider Additional Expenses
When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.

Ahmedabad has varied options in residential and commercial infrastructure. Whether you need a flat, bungalow, penthouse, office spaces, showrooms, retail spaces; it has it all. Residential areas like Bodakdev, Prahladnagar & Ambli Road have flats, bungalows are in abundance in Satellite, Bodakdev & Gokuldham and Prahladnagar & SG highway are the commercial hubs. The property rates are expected to rise by 10-15% which is luring the developers and buyers who are seeking profitable investment opportunities. Ahmedabad has it all what is required to make it a profitable investment center.

Price per sq.ft. of some prime areas of Ahmedabad

Below is the list of key localities in Ahmedabad and the residential property rates trends for multistorey Apartment for Jul-Sep 2015

Locality

Ambli – 5,231-7,499 Price Per Sq Ft

Bodkadev – 4,365-6,673 Price Per Sq Ft

Bopal – 2,854-4,394 Price Per Sq Ft

Prhalad Nagar – 3,811-6,399 Price Per Sq Ft

SG Road – 4500-6500 Price Per Sq Ft

Charges imposed by the Government Bodies:

Property Registration

  • Stamp Duty 4.9%
  • Property Registration 1%

Property Tax

  • Property tax is Rs 16 per sq meter on residential structure and Rs 28 for commercial set up.

Water Charges

Residential Property

  • Slums and Chawls up to 25 sq. m. Nil
  • Residential property up to 50 sq. m. Rs 100
  • Residential property with area ranging from 50 sq. m. to 100 sq. m. Rs 200
  • Residential property with area over 100 sq. m. Rs 300
  • Bungalows, Tenements, and Row Houses with area over 200 sq. m. Rs 1500

Non-Residential Property

  • Industrial unit and factory, besides manufacturing and processing unit Rs 400
  • All other non-residential property Rs 600
  • All non-residential property with area exceeding 150 sq. m. Rs 1500
Buying Property Tips#6: Inspect the Property
To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.
Buying Property Tips#7: Pick the Right Financing Option
While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.
Buying Property Tips#8: Invest through Equity
One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.
Updated: December 2, 2017 — 7:12 am
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