NRI Real Estate and Property Investment in India
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Real Estate Boom in Ahmedabad Grabs NRI Attention
Monday, February 18, 2008

The past two years have seen outstanding growth in the Ahmedabad real estate sector; the growth is even faster than Delhi and Mumbai. The city is gaining immense NRI attention because of the lucrative investment options.

This city is moving much faster and so the cash. The land prices have more than doubled in the last two years, which explains the rush at the first ever summit of housing and real estate developers.

In the last two years many companies have opened up in the city. Consequently, the demand for houses has gone up so has the price.

According to Rushabh Patel, Secretary, GIHED "The way property prices got doubled in last one year in Ahmedabad, thanks the town planning, people are buying more and more properties as these houses are bringing in not only faster return on investment but steadily.

A city that was earlier considered suitable for industries is now seeing a real estate boom for residential purposes as well. Over the past year the property prices have shot up faster than even Delhi or Mumbai.

"We are looking for lands in far away places as customers are ready to buy there also, mostly NRIs and people coming from outside," said Haresh Patel, Director, Kunj Properties.

The people of Gujarat have always seen the stock market as an investment option, which definitely pays but has risks as well. So many are now investing money earned from stocks in property as it is relatively less risky and assures them better and faster returns.


 

 

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