Ahmedabad is the largest city in the Indian state of Gujarat and has a thriving commercial sector, with a range of industries including BFSI, Textiles, Pharmaceuticals, and Information Technology. The city has a growing population, which is expected to reach 10 million by 2031, and is a hub for transportation and logistics.

Some specific factors that may make commercial real estate investment in Ahmedabad an attractive prospect include:

  • Favourable investment climate: Ahmedabad is known for its business-friendly environment, with a number of government initiatives and policies designed to encourage investment in the city. This includes streamlined regulatory processes, tax incentives, and other measures to support economic growth.
  • Growing demand for commercial space: With a growing population and expanding economy, there is a strong demand for commercial real estate in Ahmedabad. This includes office space, retail properties, and industrial space, all of which can offer solid returns on investment.
  • Affordable real estate prices: Compared to other major cities in India, such as Mumbai and Delhi, real estate prices in Ahmedabad are relatively affordable. This can make it easier for investors to enter the market and acquire properties with good potential for appreciation.

As per the Knight Frank’s Research Report:

2022 has been a year of robust recovery for the Ahmedabad office market, with occupier demand rebounding from pandemic lows. The 88% YoY increase in annual transactions also marks the sharpest spike among all eight office markets under their coverage.

The Information Technology sector is estimated to constitute the largest tenant base of the co-working sector as it has heavily favoured the flexibility offered by co-working/ managed office space operators instead of making long-term lease commitments. 

The fact that Ahmedabad has experienced heightened occupier traction in a less than ideal economic environment, shows the improving stature of its office market. The dedicated push by the state and central governments to make it an economic hub, low real estate costs and abundant connectivity infrastructure within the city make it an attractive destination for an office occupier.

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