Admired for its peaceful living and equipped with all modern amenities, house prices in Ahmedabad have increased by 1 per cent in the last one year. Among the top eight metro cities in the country, Ahmedabad has seen the lowest increase in residential property prices per square foot.
In the first six months of the current calendar year in Ahmedabad, the house price per square foot increased by 1 percent to 3035. There has been no increase in house prices in the last six months. The report claims that Ahmedabad has the cheapest houses compared to the top-7 metro cities of the country despite a marginal increase in prices in a year. In other metro cities Mumbai, Delhi, Bengaluru, Hyderabad, Pune, Chennai, Kolkata, house prices increased by 4 to 9 percent per sq.ft. In which the highest increase of 9 percent has been recorded in Bangalore.

Reasons behind growth in residential market in Ahmedabad

The city also saw rapid growth in the residential market with sales increasing at a rate of 17% annually. Developers have developed housing equipped with new amenities to suit lifestyle preferences, offering enhanced amenities and larger spaces. These strategic moves are aimed at capitalizing on the attractive demand in the market. The average price of a house in Ahmedabad is almost half that of other cities.

Purchases in this category also increased after the affordable scheme

After the affordable scheme in Ahmedabad, house purchase has also increased in the mid-ticket size category. In the current calendar year, the share of the affordable category (price less than Rs 50 lakh) was 39 per cent, while the share of the mid-size category (price Rs 50 lakh to Rs 1 crore) was 41 per cent. Notably, the sales share of houses priced above Rs 1 crore has also increased by 20 percent. Which was 11 percent last year.