Analysis Of Gandhinagar In Terms Of Real Estate
For people interested in buying or selling property it is important that they follow the prevalent trend of the market. These trends help an investor to decide whether it is the right time to invest in real estate or not. In order to achieve their target real estate investment people should follow the trends as this helps them to not only decide but also to make assumptions and speculations. Given below are some of the essentials that one must know before embarking on any kind of real estate buying or selling:
- The details of the total number of properties listed.
- The average price of properties.
- The most expensive property listed.
- Number of localities showing an upward trend.
- Localities witnessing a downward trend.
When talking about Gandhinagar, the new capital city of Gujarat, most of the worries of investors are taken away by the fact that the names of real estate giants like Godrej properties, Adani group, Siddhi and Ganesh group are found functioning here. They are the famous top investors who have plans of expanding their already functional projects. The ongoing average price for residential complexes in Gandhinagar starts from INR. 2500 going up to INR. 3400 per square feet based on the development and demand of the area and the location.
With all the focus on making Gandhinagar an IT hub it opens opportunities galore for residential as well as commercial buildings. This upcoming IT hub proposal makes it a very good short term as well as medium to long term investment. Excellent development backed by very good civic infrastructure and open wide neat and tidy roads adds to its value appreciation in the real estate market. It has on date become one of the best planned destinations in Gujarat. The thermal Power Station near Pethapur, the Sardar Patel international cricket stadium in Motera, the famous Akshardham Temple are another deciding factor for people to shift their investment capabilities to Gandhinagar.
An increase in tourism is also instrumental in increasing the economic inflow and bringing in job opportunities resulting in price appreciation of land in the place. A general assumption that a place has the potential of increasing its development by 8 to 10% over a period of five years is normally supposed to be a good growth chart. In this case however it is an understatement. The reason being the Ahmedabad- Gandhinagar metro project that will make Gandhinagar a world class city and its investment chart will be unable to be caught up with in the coming years.
There may be speculations regarding a downward price trend seen in the last few months but it is a temporary phase because real estate pundits are predicting Gandhinagar to be a realty destination for all investors. Thanks to the future infrastructure development plan which includes adequate commercial development capable of providing a luring market for job seekers and job providers alike. People will be tempted to settle down here thanks to the well laid out roads, markets and commercial establishments all being brought in at affordable costs. Gandhinagar offers good opportunities for both as it is being made into a Central Finance and Business District (CFBD) by the government of Gujarat. The average price of properties in Gandhinagar is INR 87. 12 lacs. Some famous and prominent areas and their trends are Sargasan (upward), Kudasan and Randesan (downward) Gandhinagar and Vavol (downward) Sector 22 (speculative). But these trends keep shifting based on demand and supply.
We can safely surmise that Gandhinagar is the new destination all real estate traders are heading towards. It is not only selling and buying but also the renting front which is lucrative as job opportunities are on the increase.
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