Investor's Paradise: Gujarat's Twin Cities Emerging as Real Estate Hubs

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Investor's Paradise: Gujarat's Twin Cities Emerging as Real Estate Hubs

After raving so much about Gujarat GIFT City, Gujaratis have accepted that not just Gandhinagar but Ahmedabad too - Gujarat’s twin cities are amazingly emerging as the best real estate hubs any Indian state can have. Before Gandhinagar got into its whole development phase, Ahmedabad was the first Gujarat city to emerge as a real estate hub.

The reason why the twin cities are coming into the limelight is the extraordinary infrastructural land and their affordable price ranges. Because of this, not just the native builders but even top builders from other Indian states have been showing their keen interest in selecting Ahmedabad - one of the most potential markets in recent times, as their firms’ foundation base. Considering the craze of real estate properties in GIFT City and Gandhinagar, Gujarat officials gave Devang Desai - the CEO of Ahmedabad Urban Development Authority (AUDA), an additional charge of Gandhinagar Urban Development Authority (GUDA). This means the Gujarat government wants Ahmedabad’s AUDA and Gandhinagar’s GUDA to work together on 2031’s Development Project (DP).

Source

According to the sources and many government officials, the work of outlining and mapping the areas to work on for both AUDA and GUDA has begun and will be completed in a year. The report will later be sent to senior government officials of the Urban Development Department (UDD) and the Chief Minister's Office (CMO).

The twin cities - Gandhinagar and Ahmedabad, are so closely connected in terms of real estate and development that it makes sense to have a joint plan for their future development. This can better integrate roads and civic infrastructure between the two cities. The Development Plan (DP) is expected to be ready by March 2024 and may be declared after the 2024 general elections.

Former Chief Town Planner of Gujarat, P L Sharma, believes that the biggest challenge for the DP is to ensure that it is focused on policies and prospective-driven development for the larger good instead of being project-driven. This is because different areas of the region have different priorities. In Gandhinagar, the focus would be on GIFT City and bullet train projects. In other regions, it may be something else.

Along with this, Ravin Bhojani, the Senior Director of Advisory and Transaction Services CBRE States, shared his view on this amazing development project, “Gift City, the expanding business district of Ahmedabad and Gandhinagar, is attracting BFSI and NBFCs. The area is benefiting from infrastructure development, including the Mumbai-Ahmedabad High-Speed Rail and Ahmedabad Metro Rail. The real estate sector is expected to experience significant growth with future projects such as Gift City Phase 2 and 3. These projects promote a walk-to-work culture. Dholera's new airport project, which will handle 50 million passengers annually, also presents tremendous opportunities for real estate.”

When asked about the areas in the metropolitan region that are experiencing a surge in real estate demand and growth, Kamal Singal, Managing Director & CEO of Arvind SmartSpaces Limited, said that Ahmedabad has seen significant growth in real estate over the last two decades. The city has transformed with increased infrastructure and efforts to attract new businesses, which have been key factors. Innovations like GIFT City have generated new demand and changed the client mix.

The Northern and Southern parts of Ahmedabad have witnessed a thriving real estate development, while the Western region remains influential. There have been important developments in other areas, too, such as in the Eastern region, where a prominent player was recently involved in a large transaction. There are standalone demand hotspots throughout the city, particularly in the Southwest and Northwest areas where demand is highest. The Western side of the city has many weekend homes, while affordable housing is more common towards the East.

Nirav Kothary, Director of Godwitt Construction Pvt Ltd., believes that Ahmedabad has undergone significant changes over the past two decades. While it was previously known for manufacturing industries such as pharmaceuticals and engineering, there has been a shift towards service sectors like Banking, Financial Services Institute (BFSI) and Information Technology (IT). To thrive, a city must excel in both services and manufacturing. Ahmedabad and Gandhinagar are evolving from a manufacturing population base to a more diverse population attracted by the lifestyle and amenities.

Ending Note

Let’s finish this article with some expert insights. Nilam Doshi commented on the town planning mechanism of Gujarat, stating that invested interests do not influence it. She praised the cities of Ahmedabad and Gandhinagar for positively taking shape due to this approach. GIFT City in Gujarat is becoming a popular choice for homebuyers and commercial investors due to its well-developed infrastructure and promising future growth. According to Deep Vadodaria, this area is experiencing an increase in diversity among its residents, which is positively influencing the development of infrastructure and attracting buyers to other parts of Gujarat. In contrast, other areas in India struggle with growth due to limited support. It will be important to provide affordable housing solutions near these industrial areas for incoming workers and also commercial properties for businesses to set up their base. If you are looking for the best commercial property for investment, contact RES Management and get guidance from the best real estate experts in Ahmedabad. Don’t keep yourself waiting and hurry up before the prime properties are sold or rented out.



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