Ahmedabad has long been known as a preferred destination for investing in real estate. However, increasing economic activities, rising migrant population, and low cost of housing have influenced the rental market of the city, too. In case you are planning to rent or invest in an apartment for rental returns in Ahmedabad, here are some popular micro-markets to consider.

Ahmedabad, one of the world’s 19 fastest-growing cities, according to Forbes, has witnessed massive development on the grounds of infrastructure. Whether you talk about connectivity, residential inventory, or social growth, the city has reported rapid transformation over the years.

As per LinkedIn’s India Professional Workforce Report, the city is among the top 10 cities in India, attracting young talent from all across the world. The growing number of working professionals in the city eventually search for rented accommodations, which is why Ahmedabad is known to be a market with potential - both for capital and rental returns. The 99acres Insite Report for the quarter ending September 2020 recorded a 3.23 percent net rental yield in Ahmedabad. While the average capital rates remained unchanged in the quarter on the back of the global pandemic, the average rental rates jumped by three percent, YoY, hinting at an increase in the income from residential properties across multiple micro-markets of the city.

The localities that recorded the highest rental yields in Jul-Sep 2020 are as follows:


Monthly rental ‘asks’


Net rental yield






Rs 8,000-9,000

Rs 14,000-19,000

Rs 20,000-24,000



Rs 7,800-9,800

Rs 11,000-14,000

Rs 15,000-19,000




Rs 10,000-14,000

Rs 21,000-29,000

Source: 99acres Insite Report and Price Trends 












Makarba: Makarba is one of the rapidly evolving residential areas in the south-western part of Ahmedabad. The locality is strategically nestled on the Sardar Patel Ring Road, and therefore, enjoys easy access to the popular areas of South Bopal, Shantipura, Vasna, and Ambli. Proximity to the Sarkhej-Gandhinagar Highway (SG Highway), connectivity through Jawaharlal Nehru Road, and the presence of adequate social and retail infrastructure makes Makarba one of the ideal destinations to reside in Ahmedabad.

With massive infrastructural development along the Vejalpur-Makarba Road, the locality is gradually emerging as a lucrative hub for prominent real estate developers, including Poddar, Shreem Realty, and Deep Group of Companies. With several employment hubs, such as Pinnacle Business Park, Parshwanath Business Park, and Synergy Tower nearby, the locality is also the favourite destination for working professionals who are looking to rent a place close to their workplaces. In terms of supply, the locality offers 3 BHK accommodations in the majority, at an affordable average monthly rent of Rs 20,000-24,000. The average capital rate in Makarba is around Rs 4,150 per sq ft. 

Social amenities available in and around Makarba

Popular educational institutes

DAV International, Cosmos Castle, Ahmedabad International

Renowned hospitals

Rushabh Medi Surge Hospital, Shalby hospital, Parekh hospital

Recreational zones

Suncity Shopping Mall, Ahmedabad one Mall


Vejalpur: Located in the new west zone of Ahmedabad, Vejalpur is one of the high-potential residential markets, offering housing options ranging from 1 BHK and 2 BHK apartments, measuring 1,200-1,300 sq ft, to 4 BHK luxury houses. It is an ideal destination for people who are working in the neighbouring industrial areas of Makarba and Sanand. A lot of employees working in these areas prefer Vejalpur for investment or rental purposes.

Being equipped with all the necessary civic infrastructure, including roads, electricity, and water supply, the locality scores well on the livability index. In terms of connectivity, Vejalpur is well-connected through SG Highway and NH-228. While the capital values in Vejalpur hover around Rs 3,900 per sq ft; the average rental asks for 1 BHK and 2 BHK unit are Rs 7,800-9,800 and Rs 11,000-14,000 per month, respectively.

Social amenities available in and around Vejalpur

Popular educational institutes

Zydus School of Excellence, RR Dwivedi School

Renowned hospitals

Saviour Hospital, Sanjeevani hospital

Recreational zones

Amrapali Shopping Mall, Janpath Shopping Centre

Comprising of a mix of gated communities, bungalows, and independent houses, Bopal has emerged as an ideal destination for living, with property prices starting at Rs 25 lakh. The average capital prices in Bopal, starting at Rs 3,800 per sq ft, are quite affordable as compared to the neighbouring micro-markets of Sindhu Bhavan, Ambli-Bopal Road, and Rajpath Club Road. Affordability, along with seamless connectivity through Sardar Patel Ring Road, SG Highway, Ambli Road, and the local railway network are the significant reasons behind the growth of the region.

Proximity to the key job hubs of Prahlad Nagar and Sanand has further helped boost the rental property market in Bopal. To apprise, there are a lot of commercial projects, including high-end retail and office spaces that have come up on the Ambli-Bopal stretch. As per Jignesh Shah, Owner, Swastik Property Solution, “With the improvement in the quality of infrastructure in the locality, including water and gas connection over the years, the locality has witnessed a significant increase in the residential demand, both from buyers and tenants. The locality has recently been included under the jurisdiction of Ahmedabad Municipal Corporation (AMC), which would further open avenues for infrastructure development in Bopal, simultaneously increasing the livability quotient of the locality. Already, Bopal, being a developed yet affordable area, is preferred over the neighbouring areas of Satellite and Ambawadi.”

While a 2 BHK unit in Bopal is available at a monthly rent of Rs 10,000-14,000, the rent for a 3 BHK hovers between Rs 21,000 and Rs 29,000 per month.

Social amenities available in and around Bopal

Popular educational institutes

Shanti Asiatic School, Delhi Public School Bopal

Renowned hospitals

Sai Nath Hospitals, Adwait Multi-speciality hospital

Recreational zones

Iscon Mega Mall, Gulmohar Mall

Other than the localities mentioned above, you can also consider areas such as South Bopal and Maninagar, which as per the quarterly Insite by 99acres, have reported an annual rental uptick of five percent and four percent, respectively.