Investment is always a tricky business and the trickiest part of it is to know what to invest in. Real estate has always been a safer option when it came to investing. People are now buying properties with Home Loan not just to use it for their personal use but also to rent it out and get a good monthly income. After deciding on a property to invest in on can apply for the Pradhan Mantri Awas Yojana (PMAY) with which you can get the survey of the property conducted ULBs absolutely free of cost. The PMAY also provides – Credit Linked Subsidy, affordable Housing in Partnership and Subsidy for Beneficiary-led individual house construction/enhancement. Real estate has always had good returns and so you need to know the good places you can invest well in. A very good option is Ahmedabad.
Firstly your question should be – what are the main regions of Ahmedabad that you can invest in. Well the answer will be Bopal and South Bopal, Prahlad Nagar, Satellite, Bodakdev, Chandkheda, Gota and SG Highway (near the Vishnu Devi Circle and near the Nirma University), etc. are among the most preferred living destinations.
Now comes the most important question about property pricing. 1 BHKs at Ahmedabad are available starting from 17 lacs, 2 BHK can cost around 33 lacs, 3 BHKs 72 lacs and 4 BHK pricings can go as high as 1.74 crores. The property prices in Bopal and South Bopal range from Rs 2,950 to 3,750 per sq. ft. The property prices at Satellite ranges from Rs 4600 to Rs 5850 per sq. ft. The property pricing in Prahlad Nagar area range from Rs. 4300 to Rs. 5900 per sq. ft. The property pricing at Gota ranges from Rs. 2600 to 3000 per sq. ft. and that in Bodakdev range from Rs. 4850 to 6150 per sq. ft.
The type of property that is most popular among the home buyers are apartments. And there are over 1,600 projects up for sale in Ahmedabad. So you can pick your choice from here. You might end up with something like Anand Sapphire Gota. The usual configurations include – 3 BHK (the most preferred), 2 BHK, 4 BHK, etc. If you can afford more, you can go for higher dimensions and that would also ensure good rental returns.
There are already 11,400 properties on rent in Ahmedabad and the rental return from these apartments is around Rs. 5000 to Rs. 1.5 lacs per month. So even if you do not want to live in Ahmedabad it is advisable to buy properties there and then give it out for rent.
The best real estate developers prevalent in the Ahmedabad property market include – Adani, Sun Builders, Applewood Estates, Savvy Infrastructures, Godrej Properties, Pacifica Companies, Sheetal Infrastructure, Aaryan Builders, Addor Realty, Aroma Realties, Shagun Constructions, etc. Make sure you do a proper research on all of them before you go about making a deal. Know about the construction quality, the time of delivery, transparency and flexibility of the work of the developers. Know about all the possible legal issues related to the builder, research about any kind of pending litigation or illegal activities undertaken by the builder in the past.
The average rate of property in Ahmedabad stand at Rs. 2900 per sq. ft. But this would vary greatly from locality to locality and proximity to stores, hospitals, schools, restaurants, malls, job districts, etc. For example, public thoroughfares connecting Satellite to the rest of the city include – SG Highway and 132 feet Ring Road. Bus services active in this area include the ones by Municipal Transport Services (AMTS) and Bus Rapid Transit System (BRTS). Satellite lies 3 km away from Vastrapur Railway station, 9 km from Ahmedabad Railway station and 15 km away from Sardar Vallabhbhai Patel International Airport. Hence Satellite is one of the most expensive localities of the city.