Ahmedabad Emerges Top Preference For Real Estate Investors
New Delhi: Ahmedabad has emerged at the top choice of real estate investors who are looking to park their funds in tier2 and tier 3 cities in the country. The city witnessed sales of about 1.15 lakh residential units across different price bands between 2014 and first half (H1) of 2019, according to data by ANAROCK Property Consultant.
The average price of residential real estate is the lowest in Ahemedabad as compared to other cities in the top seven list. The average price is about 2.870 per sq ft which is making investors flock to this city.
The unsold residential stock of builders in the city stood at 48,500 units in second quarter of 2019. This is 11 percent down as compared to second quarter of 2018. However, the current unsold inventory is 24 percent up from second quarter of 2015.
Of the 48,500 unsold housing stock, over 44 percent is in affordable segment. About 29 percent is in mid-segment. Around 6,800 units units are in the luxury segment and about 6,090 units in the ultra-luxury segment.