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.
