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Ahmedabad Real Estate has Come Up, as the Fastest Growing Sector in Gujarat

Ahmedabad Real Estate Property

Ahmedabad Real Estate Property

Ahmedabad is a beautiful city located on the bank of river Sabarmati. It is the judicial capital of Gujarat as the Gujarat High Court is located here. It is the fifth largest city and seventh largest metropolitan area of India. This city has always been a centre for development. Ahmedabad properties are an asset to those who want to invest. In recent years, the Gujarat government has increased investment in the modernization of city’s infrastructure.

The Ahmedabad real estate has come up, as the fastest growing sector in Gujarat and Ahmedabad has become the most luring city to invest in residential and commercial properties.

Ahmedabad city has lot of many independent houses, residential apartments, shopping malls and villas. This makes the city a good place to live since it comprises of all kinds of modern facilities and a world-class ambience. It has many beautiful gardens and parks, museums, lakes and other tourist places. Such an eye-catching environment attracts foreign investors as well..

Residential Properties in Ahmedabad

With the industrial and commercial growth in the city, demand for residential property is increasing with the passing time. The capital values for residential properties range from nearly Rs. 2500-6000 per sq ft. Ahmedabad has many family runs businesses. So such families prefer to live as joint families and hence there is a demand for luxurious 4/5 BHK flats. But it is also a well-known fact that most of the nuclear families depend more on the budget while choosing their residential property. Therefore they go for 2/3 Bedroom flats in Ahmedabad.

Also many villas are constructed in the Ahmedabad city. There are exclusive villas with Mediterranean, Spanish and Contemporary themes. They are complete with lots of facilities such as an all equipped club house etc.

Commercial Property in Ahmedabad

The demand of commercial sector in Ahmedabad is increasing because of retailers and corporate institutions, mainly private banks and stock broking firms. The entry of retail showrooms like Pantaloons, Reliance etc has boost up the growth of retail sector in the city. Infact, many new mall projects are lined up in the city.

Ahmedabad is a Centre of Business and the second largest stock exchange ‘Ahmedabad Stock Exchange’ is located in the city. Two of the biggest pharmaceutical companies of India viz. Zydus Cadila and Torrent Pharma are based in the city. The Nirma group of industries, which runs detergents and various chemical industrial units, has its head quarter in the city.

Ahmedabad is currently India’s top producer of cotton garments and other cotton products. The IT industry is growing fast in the city. The educational and industrial institutions have attracted many students and young skilled workers from the rest of India.

Property Tax in Ahmedabad

Ahmedabad Municipal Corporation collects various taxes. The tax collection is executed in three basic taxes. First is Municipal Corporation Property Tax, second is Vehicle Tax, and the third one is Professional Tax.

Property Tax is levied on the value of the property owned by a resident. Municipal Corporation Property Tax is calculated on the basis of the present value of the property owned by the resident in Ahmedabad. The property is categorised as land, building and residential houses.

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