Top 3 investment destinations in Ahmedabad
- Category: Residential
- Date 24-05-24
Top places for real estate investment in Ahmedabad
For property investment in Ahmedabad, it is crucial to know places that have the potential for the highest return on investment. Following are the localities that are worth putting into your consideration list:
Vastral
Having observed an annual rental yield of 4.16 percent in Oct-Dec 2020, Vastral is one of the posh residential localities in Ahmedabad. It is mainly a preferred location for professionals belonging to GIDA Vatwa in Phase 4 and Odhav Industrial Estate, which are merely 5-6 km from Vastral. These are some of the known employment hubs in Ahmedabad.
In terms of infrastructure, the locality boasts the right mix of social and civic infrastructure, comprising famous international schools and notable hospitals of the city. While Vastral is already well-connected via SP Ring Road and Baroda Expressway, the locality has gained immense prominence with the opening of the Thaltej Gam to Vastral section of the East-West Metro corridor in 2019.
In terms of rental housing, 2 BHK unit is the most common configuration available for rent and demanded by the prospective tenants in this locality. As per the 99accres data, over 50 percent of properties available for rent in Vastral are within the range of Rs 5,000-15,000 per month.
South Bopal
Green surroundings, seamless connectivity to the city-centre, and attractive prices have made South Bopal a favourite real estate destination for investors and end-users. Though on the outskirts of the city, the locality is geographically close to West Ahmedabad, a popular corporate hub housing the offices of several multinational companies. The locality is merely 13 km away from Sanand, which is again an established automobile hub. Proximity to these corporate districts makes this suburb an excellent choice for working professionals in the city.
Ever since South Bopal was declared a municipality, it has gone through a drastic transformation on the civic infrastructure front. The Ahmedabad Urban Development Authority (AUDA) has built several flyovers and underpasses on the Ring Road, which have enhanced the region’s connectivity with the prime areas of Bodakdev and Prahlad Nagar. This is yet another reason why the locality has been clocking steady enquiries from potential tenants.
As per the 99acres listings, 3 BHK is the most common configuration available for rent in the locality, accounting for over 60 percent of the total residential stock. Mid-sized 2 BHK unit is available at Rs 12,000-14,000 per month, and for a 3 BHK unit, you need to shell up to Rs 18,000 per month.
Nikol
Nikol caters to the housing needs of both mid and high-end strata of the society. While it is majorly a residential locale towards the West, it houses several small-medium enterprises belonging to metal, textile, and chemical sectors. On the infrastructure front, the locality is well-connected via Sardar Patel Ring Road and Narol Naroda Road. The under-construction section of the East-West Corridor, which is likely to start its operations in 2024, is expected to boost the locality’s connectivity quotient further and propel housing demand in the times to come.
On the housing front, the locality encompasses residential apartments from prominent developers, including Suryam Developers, Devnandan Builders, Abhilasha Group, Sadguru Enterprise, and Polaris Infracon. A mid-sized 2 BHK multi-storey apartments measuring up to 1,500 sq ft are the most supplied in this locality, seizing over 50 percent of the total residential inventory. “In terms of rental housing, 2 BHK and 3 BHK units are the most coveted in Nikol commanding rentals in the range of Rs 7,000-9,000 per month and Rs 10,000-15,000 per month, respectively.. As compared to the neighbouring localities of Odhav, Naroda, and Nava Naroda; Nikol is a recent settlement. Residential spaces in Nikol are newly constructed, and therefore, the locality is preferred over other areas in proximity such as Vastral and Kathwada”, says Nikunj Panchal, Owner, Chamunda Estates.
Other than the above, investors can also consider Bodakdev, Satellite, and Shela for real estate investment in Ahmedabad. All these areas have reported a rental yield of over two percent in Oct-Dec 2020, which is quite good under the given circumstances.