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News & Views on Indian Real Estate

Wednesday, August 06, 2008

Ahmadabad is hot realty market for NRIs


Ahmadabad is all set to become hot spot of realty business. The NRIs (non-resident Indians) are showing huge interest in the city. This was indicated by the response given to Indian property road show held in the US and UK. Goa and Mumbai are behind Ahmadabad in terms of prospectus of realty business.Chairman and CEO, Axiom Estates, Rajeev Goenka said that Ahmadabad is becoming new hub of realty business. He said that NRI’s account for nearly 15-30% in realty sales. The current road show held in UK revealed that Ahmadabad is becoming major reality destination for the world. It has attracted about 300 realty projects in the international roadshow held in UK as compared to other 20 participant cities.Gujarat Institute of Housing and Estate Developers (GIHED)’s vice chief, Mr. Suresh Patel said that sub-prime crisis in US is a major cause of NRI’s investment in Indian cities. Ahmadabad provides good infrastructure such as road, transport and power to the investors as compared to other tier II/III cities. That’s why, it has become charming destination for realty business.

Manish said...

Ahmedabad is bound to fall among the top five cities of India. Among all the cities of Gujarat, Ahmedabad is the largest and in India it is the seventh largest city. That’s why Ahmedabad real estate market and property market is on boom and going in a full flow.

Architectse said...

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