5 Reasons why Ahmedabad is the investment hotspot for NRIs
Ever since India embarked on the path of economic liberalisation, non-resident Indians (NRIs) have endeavoured to optimize returns on their investment avenues. Whether the market is hot or not, an NRI would always like to have a place back here in India. To support this, the government has introduced several new schemes and incentives for attracting investments. Real estate has been a key area for attracting such an investment and is considered one of the most prominent and high return sectors.
According to Money Control, more than three-fourths (78%) of NRIs who are looking to invest in real estate in the country, wish to do so in their hometown. The main reason behind this is the sense of security they get. Ahmedabad is one such investor friendly hometown that is also an ideal city. The factors which have led to the growth of Ahmedabad’s real estate market include the booming industrial sector and the overall high rate of development. This has also made it one of the top cities in India to invest in right now. Below are five more reasons which will specify more:
1. Mumbai-Ahmedabad Bullet Train
India will start work on its first bullet train that is the Mumbai-Ahmedabad High-Speed Rail (MAHSR) funded by the Japan International Cooperative Agency (JICA). With this project, the commute from Ahmedabad to the country’s economic hub, Mumbai, will be more convenient. The construction activity of this project will boost allied industries such as steel, cement and infrastructure. This will translate into additional logistics and an increased demand for warehouses. This will help economic growth, which has been sluggish in the last few quarters in the city.
2. Expansion Possibilities
New production bases and townships will eventually expand the MAHSR project. The trickle-down effects of opening avenues for cheaper housing, logistics hubs, and industrial units along the route will benefit smaller towns and cities. The districts of Palghar in Maharashtra and Valsad in Gujarat, along with the Union Territory of Daman, will have a great shot at attracting new investments and amenities.
3. History with Trade and Commerce
The city is rich in textile, pharmaceutical and chemical industries. Apart from this, it is also a well-established IT and retail destination. With the city having an impressive infrastructure and a consistent supply of water and electricity, some organizations are choosing Ahmedabad as their base over other cities in the North, as well as western India. The cost of doing business per sq. ft. in Ahmedabad is very less, which is a very attractive factor for an NRI to look for after they plan to pack their bags and move to India.
4. City’s Architectural Delight
The architecture of Ahmedabad ranges from the ancient to the very modern. One can find Mughal architecture in this city. There are institutional and residential buildings which are the specimens of modern architecture.
5. Investor friendly city
The city is not only an investment opportunity but also an investor-friendly city. It is among the few cities in India, which not only attracts investments but has an ample number of investors. Residential real estate of Ahmedabad is dominated by private players, and the market is also heavily driven by an active investor base, with most of the participants ploughing capital market profits into the real estate markets. This is flourishing the real estate sector of the city.
Adani’s projects are flourishing in Ahmedabad, offering premium, luxury residences to invest in. The amenities include a country club, golf club, musical aqua shows and a lot more at their projects - La Marina, The North Park, Water Lily, The Meadows, Aangan and Elysium in Shantigram. So if you are an NRI, look out for these projects by Adani to invest in and make the most of it.