Ahmedabad is an important trade centre and the commercial capital of Gujarat. Foreign investment from joint ventures with multinationals and investment by NRI’s in real estate during the past few years has propelled the property market with assured higher returns. However, rising property prices resulted in very few buyers and people postponed buying decisions, waiting for real estate prices to come down. Buying affordable houses in Ahmedabad is presently difficult due to mounting inflation, overall increase of raw material rates and construction costs. The area within the city limits has hardly any land for constructing new buildings and the city is fast expanding in a circle with a new ring road along the circular boundary. Hence, instead of promoting luxurious projects, builders are now focusing on creating townships for bulk sale of affordable homes in Ahmedabad to the middle class segment with accessibility to medical, recreational and commercial services. Higher land prices in western Ahmedabad, has rapidly developed real estate in the eastern part. Residential projects in Ahmedabad comprises of both low-cost and high-end properties are coming up to meet the growing demand for an affordable house in Ahmedabad. Even the NRIs are not keen to book property in the current market conditions and only reduced rates can encourage them to buy a second home. Pacifica is a reputed realty company developing top quality housing solutions in the western areas of the city, with modern amenities and state-of-the-art infrastructure to provide affordable housing in Ahmedabad. Easy availability of housing loans and reduced interest rates have prompted real estate developers to plan cost-effective real estate projects and build an affordable home in Ahmedabad for the low income group.
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