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Ahmedabad continues to adorn the affordable tag both in terms of buying and renting.
Ahmedabad for long has been city that has been defying many real estate market trends. At a time when the real estate sector is going through a rough patch and most markets are making a gradual shift towards affordable segment, Ahmedabad continues to be affordable as usual. Both, Ahmedabad and Hyderabad continue to stay at the top spot in the Affordability-To-Buy (ATB) ranking and swap the top two spots in the Affordability-To-Rent ranking. The ranking released by ArthaYantra in the 4th Edition of its Annual Buy vs Rent Report (ABRS).
Buy vs Rent of a residential property is a question that pesters millions of families in India. ABRS helps families to arrive at answering their ‘Buying vs Renting’ question from a personal finance perspective, while keeping emotions out of it. The report covered real estate buy and rental markets in eight cities across India including Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune.
“Buying a home without clear economic benefits can be detrimental to the financial well-being of the buyer. ABRS should be used as the mainstay tool to arrive at a more objective decision on whether to buy or rent a property,” adds Nitin B Vyakaranam, CEO ArthaYantra. The findings state Ahmedabad continues to be an affordable city for both, buying and renting a residential property. It has been found that people with an annual income of Rs 10lakh and above can consider buying a residential property here. Real estate players in the city too feel that that such reports will boost up the market sentiments.
Rakesh Malik, Times Property, The Times of India, Ahmedabad