Ahmedabad: Why should you invest in Shela and Gota?

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Shela and Gota in the western and northern peripheries of Ahmedabad have emerged as favoured housing locales in the city backed by excellent connectivity, an array of residential choices, competitive pricing, sound infrastructure and closeness to commercial hubs of Bopal, Mithakhali and Sarkhej-Gandhinagar (SG) Highway. Both the areas offer healthy investment potential. Here are a few reasons why you should consider investing in these regions of Ahmedabad.

With the real estate market of Ahmedabad expanding towards the outskirts, many housing locales have garnered homebuyers’ attention including Shela and Gota. The earlier neglected suburbs have undergone massive evolution over the years and have emerged as the preferred choice of the homebuyer community. One of the key factors that drove the housing demand in the locales is competitive property prices. The micro-markets are replete with several affordable housing projects both in the under-construction and the ready-to-move category which has magnetised the interest of investors and end-users alike.

Shela

In the West Ahmedabad, Shela is strategically located along the Sardar Patel Ring Road (SPRR) and offers smooth accessibility to the prime areas of the city such as SG Highway, Satellite, and Vastrapur. According to Raman Bhatia, real estate broker, Dev Bhatia Realty LLP, “Maximum housing demand in Shela is for 3 BHK flats with a carpet area ranging between 1,400 sq ft and 1,600 sq ft. Mid-sized 1 BHK and 2 BHK units are also popular; however, the favorability of 3 BHK configurations outstrips others. The trend has chiefly emerged due to the availability of big size units at competitive prices and ample supply of quality projects by reputed builders.”

“Currently, the average weighted property values in Shela hover around Rs 3,300 per sq ft. The locality has demonstrated a nearly 13 percent hike in capital values over the last two years. The development is principally owing to the rising land values on account of their increased demand amidst the builder community. The average land value in Shela has grown from Rs 30,000-35,000 per sq yard in 2016 to Rs 40,000-50,000 per sq yard in 2019,” avers Rishi Solanki, a city-based realty agent, Shri Riddhi Group Consultants and Developers.

However, despite the rising property values, the locality is reasonably priced vis-à-vis other neighbouring pockets such as Ambawadi and Bodakdev.

Locality

Average Weighted Capital ‘Asks’ (in per sq ft)

Average Monthly Rentals (in per sq ft )

Ambawadi

Rs 6,250

Rs 16

Bodakdev

Rs 6,050

Rs 17

Shela

Rs 3,300

Rs 14

 Source: The capital and rental values are the averages of the listings posted on 99acres.com

Gota

With a plethora of oil, gas, petrochemical and energy industries located in the radius of 10-15 km, Gota is a delight for home seekers since maximum properties are available in the price range of Rs 30-50 lakh. The area is also a budget-friendly option for tenants, who are scouting for residential opportunities in an inexpensive price band over Thaltej and Prahladnagar.

According to Natvar Prajapati, property agent, Prop Advisor Realty Service Pvt Ltd, “Juxtaposed to SG Highway, Gota in the North has risen to popularity due to the increased number of residential launches in the affordable segment. Adequate supply of mid-sized 2 BHK and 3 BHK units pegged between Rs 40 lakh and Rs 50 lakh has made it a preferred choice for homebuyers. While end-users prefer ready-to-move units, investors’ inclination is towards newly-launched projects since they are reasonably priced. Around 70 percent of the investor demand hails from Ahmedabad, and 30 percent demand pours from the neighbouring cities of Gandhinagar and Surat.”

Locality

Average Weighted Capital ‘Asks’ (in per sq ft)

Average Monthly Rentals (in per sq ft )

Thaltej

Rs 5,400

Rs 15

Prahladnagar

Rs 5,600

Rs 15

Gota

Rs 3,400

Rs 9

Source: The capital and rental values are the averages of the listings posted on 99acres.com

The increased demand from second homebuyers is mainly due to the geographical positioning of the locale in the vicinity to noted commercial hubs, ongoing East-West Metro project and steadily growing property values. The average weighted capital values in Gota have escalated from Rs 3,200 per sq ft in Jan-Mar 2016 to Rs 3,500 per sq ft in Jan-Mar 2019. The trend is expected to grow further with a corresponding rise in the land values in future. “The average land prices in Gota have increased by 50 percent in the last 7-8 years and currently, range between Rs 1.3 lakh per sq yard and Rs 1.5 lakh per sq yard,” exerts, Solanki.

Taking note of the pro-growth factors such as the stable State government, growing commercial market, and business-friendly policies, the real estate sentiment in Shela and Gota would increase further since they are still in the affordable orbit.

 


Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.


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