Ahmedabad metro to push city’s real estate market
Buying a home is always a crucial decision, and not one that can be made without due consideration to several factors. While budget usually comes up on the top, the strategic location and physical infrastructure are also contributors.
If we look at the city of Ahmedabad, the approval of the Ahmedabad Metro Rail Project Phase 1 is expected to lift the face of real estate in Ahmedabad. The metro phase 1 stretch covers two corridors the North-South corridor starting from APMC, Vasna to Motera Stadium followed by the East-West corridor starting from Thaltej Gam to Vastral Gam.
If you are planning to buy a house in Ahmedabad, then localities near the upcoming Ahmedabad to Gandhinagar metro belt can be considered for good returns. With metros having mushroomed in all major cities of India, prices of the properties around the metro’s have escalated. In Ahmedabad too, real estate around the proposed metro line is expected to rise. The most popular of places to investment in real estate in Ahmedabad would be around SG Highway.
Connectivity directly affects a buyer’s decision of selecting a locality. The upcoming metro belt will pass through the main city of Ahmedabad to the hub of IT and electronics industry (Gandhinagar). It will decongest some of the traffic marred areas of the city and will also ensure rapid connectivity to commuters.
Would the new metro lines affect property prices?
While the rental property is unaffected, the metro stretch has already started witnessing a rise and in future is expected to go further. The middle class is expected to invest in these areas as home buyers from this segment prefer to live in areas having good metro connectivity. Not only does it makes commuting easier, but it also increases the cost of properties, status and general infrastructure around.
Would the metro line bring new construction plans?
The upcoming Thaltej Gam Metro Station is close to some of the upcoming real estate projects offering residential and commercial options.
Prior to the announcement of the metro, these areas had a sizeable demand for housing but with the coming of the metro, the area is expected to witness more development and investments.
Hebatpur, Sindhu Bhavan Road and 5 km from Thaltej metro station Avirat Group has some of its commercial and residential projects coming up. Not only are these in the vicinity of the metro lines but are also great properties to invest in.
All these areas are within 3-6 km radius from the new coming up metro station.
Localities to become accessible due to the upcoming metro are Motera Stadium, Sabarmati, AEC, Sabarmati Railway Station, Ranip, Juna Vajad, Usmanpura, Ashram Road, Nava Gandhigram, Madalpur, Paldi, Anjali, Vasna, APMC, Thaltej, Doordarshan Kendra, Gurukul Road, Commerce Six Road, Stadium, Ashram Road, Shahpur, Gheekanta, Kalupur Railway Station, Kanakaria East, Apparel park, Amraiwadi, Rabri Colony, Vastral and Nirat Cross Road.
Both buyers and investors have ample reasons to invest in Ahmedabad, with the new metro line set to bring enhanced connectivity and might work as an added reason for investment.
Source The Economic Times