Ahmedabad Monthly Real Estate Monitor May 2017

Ahmedabad Monthly Real Estate Monitor May 2017

DATA ANALYSIS FOR THE MONTH OF APRIL 2017

Office

During the month of April, Ahmedabad office market saw notable transactions activity. Occupiers from IT/ITeSand SMEs drove the demand for quality offices. Gift City continued witnessing large space transactions. No rental movement was seen during the month.

Important office transactions include:

•TCS leased space in GIFT City 

Key Precincts	Rental Value (INR per sqft per month)	Capital Value(INR per sq ft)
Prahlad Nagar	40 -50	6000 -7500
S G Highway	40 -50	6000 -7500
Ashram Road	38 –45	5500 –6500
Navarangpura	40 –45	5500 –6500
Koba	22 –35	4000 –5000

Retail

Retail transactions were concluded both in high street spaces and organised retail malls.

The month witnessed large space transactions in suburbs from consumer durable and fashion wear categories.

Important Transactions:

•Westside and Cromaboth in suburbs submarket

Key Precincts	Rental Value (INR per sqft per month)	Capital Value(INR per sq ft)
CG Road	100 -125	16000 -18000
SG Highway	80 -110	11000 -13000
Ashram Road	110 -130	14000 -16000
Chandkheda-Motera	60 –80	9000 -12000
Prahladnagar	70-120	18000 -22000

Residential

During the month, residential sales were tepid however the sentiments slightly improved. Unsold inventory in the projects in and around SG Highway remained high.

Key Precincts	Rental Value (INR per month for a 1,000 sq ft 2BHK apartment)	Capital Value(INR per sq ft)
Naroda	4000 -6000	2200 -2500
Gota	5000 -8000	2500 -2800
Navrangpura	15000 -20000	6000 -7000
SG Highway	10000 -15000	5500 -7500
Satellite	12000 -15000	4000 -6000
South Bopal	8000 -12000	3000 -4000

Policy/ Infrastructure

Phase 2 of the Metro-Link Express For Gandhinagar-Ahmedabad (MEGA), a detailed project report (DPR) of which will soon be sent to the state government for approval, has two branches, one from RaysanCrossroads to Gift City and the second connecting Moteraand the Ahmedabad Airport.

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