propindex | magicbricks...above is the list of major localities of the city, with information about...
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PropIndex | Magicbricks
Residential Market Insights
Political maneuvers and big infrastructure projects drive Ahmedabad's real estate market
Ahmedabad as a politically charged city, further cemented its position with the recent visit of the President ofAmerica, Mr. Donald Trump. This, along with the presence of GIFT City, and big infrastructure projects likeMumbai-Ahmedabad High-Speed Rail, are driving developers and buyers alike to the residential segment in the city.
Ahmedabad, a relatively affordable city compared to the rest of the metros, has been one of the biggest beneficiariesof affordable housing schemes. IT Parks like DLF IT Park, and GIFT City, are further sustaining the end-user demandin the city. However, the continuous rise in prices over the last four years has pushed the buyers to look for smallerhomes. The amendments to the Gujarat Ownership Flats Rules, 2019 (Redevelopment Act), have enabled theredevelopment of co-operative housing societies, and is likely to increase fresh supply in the coming years.
5 YearChange YoY QoQ
0.5%6.4%17.0%
5 YearChange YoY QoQ
1.2%5.3%20.8%
"Under Construction(UC) prices have grownat a stronger 21% inthe last 5 years, makingUC properties costlierthan RM ones in the
city"
AhmedabadJan-Mar 2020
Parameters India Ahmedabad
Demand+ +5.3% +5.2%Supply++ -0.8% +1.1% Price Index+++ +0.1% +0.5%
"Ahmedabad's pricegrowth of 17% in 5years and 6.4% YoY isone of the best in theindustry, amongst TIERI cities of India"
Notes:Above parameters represent QoQ change in Q1 2020 atIndia and city level + volume of property searches ++ volume of active listings +++ change in the weighted average price
Source: Magicbricks Research
Adani Realty
Godrej Properties
Goyal & Co.
Shaligram Buildcon
Gala Group
Swati Procon
Kavisha Corporation
JP Iscon Group
Sun Builders
Shivalik Group
Godrej Garden City SG Highway
Casa Vyoma Vastrapur
Suvas Apartments Thaltej
Devnandan Sankalp City Naroda
Shilp Shaligram Vastrapur
Iscon Platinum Bopal
Adani Shantigram SG Highway
Sheetal Westpark Vastrapur
Shaligram Prime South Bopal
Shree Balaji Wind Park Vaishno Devi
Average changes in prices for localities in various price segments
Market Dynamics
Ready to Move Price Index
Under Construction Price Index
- Metro construction to pushdevelopment to the outskirts of thelocalities like Vastral, Thaltej, andMotera
- Hike in Floor Space Index (FSI) byGujarat government last year to aid inboosting supply and keeping pricesaffordable in Ahmedabad - The under-construction Ahmedabad-Dholera expressway to raise demand inthe peripheral areas of Ahmedabad
"Prices in Q1 2020 grewacross most pricebuckets, though pricegrowth was morepronounced for
premium UC propertiesand affordable RMproperties"
Key Trends to Watch Out
2014
2015
2016
2017
2018
2019
2020
2,000
3,000
4,000
5,000
Avg. Price per sqft
2014
2015
2016
2017
2018
2019
2020
2,000
3,000
4,000
5,000
Avg. Price psf
Price Bracket (INR per sqft)
< 4,000 4,000-5,000 5,000-6,000 > 6,000
RM UC RM UC RM UC RM UC
0.2%
1.6%
-0.4%
0.7%
1.8%
0.1%
1.3%
0.2%
Key Projects based on consumersearches
Key Developers based on activelistings
Average Price INR per sqft
Average Price INR per sqft
The above table represents the top developers by share ofactive listings on Magicbricks website in Q1 2020
Source: Magicbricks Research
Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q1 2020
Source: Magicbricks Research
Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on March 20202. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research
Note:1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on March 20202. The trend line represents the average prices of dominant asset class in each locality of the city.
Source: Magicbricks Research
Note:Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties for dominant asset classes in each locality under various pricebuckets as on March 2020
Source: Magicbricks Research
Page 1© magicbricks.com
1 BHK14%
3 BHK32%
Above 3 BHK8%
2 BHK47%
DEMAND
Demand Supply Analysis Ahmedabad | Jan-Mar 2020
Significant demand-supply mismatch
Demand for 1 BHKs steadily increasingDemand-Supply mismatch inaffordable segment
Ahmedabad being predominantly an affordablehousing location, with 2 and 3 BHKs making upmore than 80% of the total demand.
"2 BHK configuration and pricebelow INR 4,000 per sqft, is thedominant property searchcriterion in Ahmedabad"
- Market dynamics for 1 BHK configurationwitnessed an imbalance over the last quarter,with demand increasing marginally. It is themost undersupplied segment in Ahmedabad,with consumer preference more than double thesupply in the city's residential pie.
- With the support of Credit Linked SubsidySchemes (CLSS) under Pradhan Mantri AwasYojana (PMAY), affordable homes withinINR 4,000 per sqft have been in high demandamongst the various price brackets - Proximity to employment hubs includingindustrial areas and IT Parks around Ahmedabadand Gandhinagar steers the growth to theperipheral localities, with most focus in thenorth-eastern region of the city
- Most of the demand is concentrated along theSarkhej-Gandhinagar Highway, which has mostof the city's posh localities and commercialdevelopments
Top Micromarkets by consumersearches
Propensity of demand and supply in terms of searches andlistings by localities
1 BHK6%
2 BHK31%
3 BHK45%
Above 3 BHK18%
SUPPLY
5,000-6,00014%
4,000-5,00021%
> 6,00018%
< 4,00047%
SUPPLY Price buckets in INR per sqft
Top Micromarkets by active listings
5,000-6,00012%
4,000-5,00019%
> 6,00011%
< 4,00058%
DEMAND Price buckets in INR per sqft
Notes:1. Demand represents property searches on Magicbricks website during Q1 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q1 2020, segregated by BHK configuration
Source: Magicbricks Research
.Notes:1. Demand represents property searches on Magicbricks website during Q1 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q1 2020, segregated by price buckets
Source: Magicbricks Research
Note:1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) forproperties in the localities on Magicbricks website in Q1 20202. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
Source: Magicbricks Research
Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q1 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q1 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research Shahibuag
Jivraj Park
Narolgam
Juhapura
Makarba
Motera
Naroda
Tragad
Vasna
Ranip
Shilaj
Shela
Gota
© OpenStreetMap contributors
Demand/SupplyDemand
SG Highway 2750 - 7950
Bopal 2900 - 8700
Satellite 4800 - 7450
Narol Naroda Road 1700 - 5500
Prahlad Nagar 3300 - 6850
Chandkheda 2850 - 3900
Chandkheda-Motera 2600 - 4100
11
22
33
44
55
66
77
SG Highway 2750 - 7950
Bopal 2900 - 8700
Satellite 4800 - 7450
Prahlad Nagar 3300 - 6850
Paldi-Ambadi 3700 - 7200
Narol Naroda Road 1700 - 5500
Chandkheda 2850 - 3900
11
22
33
44
75
56
67
Micro-Market Price Range Rank Rank Q1-20 Q4-19
Micro-Market Price Range Rank Rank Q1-20 Q4-19
Page 2© magicbricks.com
Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q1 20202. Color of the bubble represents price change in Q1 2020, with green color representing price increase and red color price decrease.3. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
LocalityAvg.Price
PriceChange
Narolgam
Naroda
Nava Naroda
Ranip
Chandkheda
New Ranip
New C G Road
Ghuma
Shela
Devnagar
Jagatpur
Gota
Motera
Jagatpur Village
Jivraj Park
1.1%
3.2%
3.3%
2.7%
2.5%
0.3%
-0.2%
1.2%
-3.6%
2.0%
-0.2%
3.5%
1.8%
4.7%
4.1%
-5.9%
1.3%
3,975
3,910
3,910
3,890
3,875
3,850
3,850
3,837
3,651
3,619
3,582
3,483
3,368
3,318
2,477
2,334
2,143
< INR 4,000 psf INR 4,000-5,000 psf INR 5,000-6,000 psf > INR 6,000 psf
Price Analysis Ahmedabad | Jan-Mar 2020
- Most localities with price growth in the established areas of the city such as Satellite, Prahlad Nagar, and Vastrapur
- Proximity to the ring road and Gandhi Nagar driving prices in key areas of Motera, Nava Naroda, and SG Highway Source: Magicbricks Research
LocalityAvg.Price
PriceChange
Gurukul
Paldi
Sola
Ghodasar
Naranpura
Memnagar
Science City
Science City Road
Prahlad Nagar
Vastrapur
C G Road -5.8%
1.8%
0.7%
0.0%
-0.3%
5.0%
7.4%
-6.6%
3.1%
-5.5%
1.3%
5,971
5,813
5,717
5,633
5,618
5,587
5,575
5,289
5,263
5,243
5,019
LocalityAvg.Price
PriceChange
Navrangpura
Thaltej-Shilaj Road
Satellite
Thaltej
Nehru Nagar
Jodhpur
Ambawadi
Bodakdev
Iskon Ambli Road
Shahibuag
Ambli - Bopal Road
Ambli 1.0%
-1.1%
4.2%
-4.9%
3.0%
0.4%
-0.2%
0.1%
2.1%
1.6%
1.0%
-4.9%
7,611
7,306
7,193
7,050
6,445
6,286
6,218
6,195
6,185
6,142
6,125
6,083
Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q1 2020. This is an interactive table available on Magicbricks.com under Propindex section.2. The locality prices are calculated by averaging the prices of all properties in a locality in multi-storey and builder floor segment, after removing the outlier properties that might distort the overall prices.3. The four tables above categorize the localities in various price buckets.4. The color of the numbers represent the price change in Q1 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research
Disclaimer: The data represented above is compiled by MagicBricks from multiple sources. MagicBricks gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and does not acceptany liability on the information which may or may not be subject to change from time to time due to Governmental or non Governmental regulations/directions.
Q1 2020 Price changes for the city's major localities
LocalityAvg.Price
PriceChange
SG Highway
Vaishno Devi
South Bopal
Chanakyapuri
Makarba
Bopal
Ghatlodiya
Maninagar
Vasna 3.1%
-2.8%
2.3%
-0.5%
-4.2%
7.3%
-0.5%
0.7%
0.6%
4,555
4,497
4,322
4,201
4,179
4,179
4,177
4,170
4,026
Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Deepak Rajput | Sr. Research [email protected] [email protected] [email protected] [email protected]
Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
For more information and research related queries, please contact:
Thaltej-Shilaj Road1.0%
Navrangpura-4.9%
Vaishno Devi0.7%
Chandkheda1.8%
New Ranip3.5%
Shahibuag4.2%
Jivraj Park3.3%
Ghodasar-6.6%
Makarba-4.2%
Vejalpur3.2%
Motera2.5%
Naroda-5.9%
Ghuma2.0%
Vasna3.1%
Paldi-5.5%
Ranip4.7%
Shela-3.6%
Gota0.3%
© OpenStreetMap contributors
-7.5% 7.5%
-5% -2.5% 0% 2.5% 5%
Page 3© magicbricks.com