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Call it the industrial hub of the city or the destination for inking of most of the commercial deals of Ahmedabad, Naroda is eminent for the industrial estates, which have made this area their home. Adding to it, in past few years, many affordable residential schemes are also coming up.
Initially, the area garnered interest from investors alone.
However, with fast-paced infrastructural advancement, both social and physical, the situation has changed. End-users have started moving in. Even though the prime demand is from those working in the industrial area, enquiries are also coming from other parts of the city.
This new-found interest of the realtors in the area is working as a boon to the employees of GIDC as they will now be able to find their dream homes at affordable prices and without being required to travel large distances for work. Apparently, the locality has witnessed a capital appreciation of nearly 40-45 percent in the last two years.
This has augured well for those who had invested at the right time. However, even after recording such a hike in property values, the locality still offers housing within a modest range of Rs 10-30 lakh.
This accompanied by the proximity to GIDC is what is driving residential demand in the area.
With the rapid strides made by the locality in terms of residential development, it is clear that Naroda is on its way to becoming a popular residence option in the future.
Source: Times Property, The Times of India, Ahmedabad