Marginal improvement in the property market sentiments of Ahmedabad after a long haul

A recent study in the real estate sector has claimed that a marginal improvement was visible in the property market of Ahmedabad, the seventh largest Indian city which was seeing a continuous downward trend in the past in the wake of the ‘long hanging’ slowdown.

The study shows a marginal rise in sentiment of buyers claiming that the end users in the low to mid-budget categories are actively searching in the city. The listed prices have gone up marginally as also the number of listings.

‘The real estate market in this seventh largest Indian city is a price sensitive market and festival discounts are likely to impact sales positively’, the study by the leading online property portal Magicbriks said today.

The preferred localities in the city are concentrated along an arc running from north west towards the western half. Consumer preference is spread across lesser number of localities in all budget segments. The city average share of the top 5 localities in preference in a given budget range is 37 percent, it claimed.

Smaller BHK formats are being preferred to manage cost and the majority prefer the 2BHK category, accounting for 46% share. The percentage distribution of 2BHK and 3BHK formats is opposite to the consumer preference in the city, the study said adding Satellite and localities along the western half like Bopal, South Bopal, Bodakdev,Prahlad Nagar,Thaltej and SG highway are more preferred and account for 40% of the share.

Nearly 83% listings as per budget share are in the below Rs 50Lakh segment while in terms of built-up area, 95% properties are in 700-1200sq ft category, the study said.

– DeshGujarat