Housing prices in Ahmedabad see double-digit rise: Shivalik Group

Any time to buy your dream home is a good time. It is especially the case now because housing prices have gone up in recent months and are expected to continue to rise further, according to a leading real estate developer from Ahmedabad.

According to a recent report by CREDAI, Colliers, and Liases Foras, housing prices in Ahmedabad have risen by an average of 14 percent in the last two years. The housing prices were up 11 percent on a yearly basis in the third quarter of the year. Housing prices in Ahmedabad have been strong amidst robust demand and quality launches by top developers. However, the steep increase in prices of cement, steel, and other raw materials is the biggest reason for the rise in property prices.

“The overall real estate segment is doing very well due to a strong revival in demand. As far as residential units are concerned, prices have gone up by an average of Rs. 400-500 per sq ft or approximately 10-13 percent this year because of higher construction costs. Considering the rise in prices of basic raw materials such as steel, cement, bricks, electrical wires, and fittings, among other things, developers are mulling fresh hikes in housing prices,” said Taral Shah, Managing Director of Shivalik Group, a leading real estate firm in Ahmedabad.