Source : Magic Bricks
About 43 per cent of the localities in Ahmedabad witnessed a rise in capital values during the Jan-Mar 2015 quarter, according to the data available with Magicbricks. Highest rise in property values was witnessed in Vastrapur and Vejalpur in the city. Investors in these areas earned between Rs 1-2 lakh in the last three months.
Vastrapur, famous for its shopping malls and restaurants witnessed a rise of 5 per cent in capital values in the last three months. This means, investors who invested about Rs 45 lakh in a 2BHK apartment in the area are now selling it for Rs 47 lakh. According to Pradip Rajpurohit of Velly Property Management, a broker firm, “It is the consistent demand which keeps the property prices up in the area. Vastrapur is one of the well developed and planned localities of the city that has all the basic facilities available at an arms distance. This is the reason why many elites of the city including top government officers prefer to stay here.”
The area is famous for housing the Indian Institute of Management and shares neighbourhood with the Gujarat University, which allow investors earn rental income as well. Rental values here vary from Rs 7,000-35,000 per month.