Sangath IPL, established in 1984, is one of the emerging developers of Ahmedabad. The group has so far delivered over four million sq ft and has proposed to launch 5 lakh sq ft more in the coming years. In conversation, Eric Shah, Director Sales of the group talks about his expectations about developments in Ahmedabad in the year 2014. Excerpts from the interview-
What is your expectation from the Ahmedabad real estate market in the year 2014?
Last quarter of 2013 has shown a great come back. The property prices in Ahmedabad are still reasonable and are within affordable price range. This allows fair chances of price rise in 2014.
Which areas are expected to see maximum real estate development in the coming year 2014? Why?
Areas between Ahmedabad and Gandhinagar, such as Motera, Chandkheda, New C G Road (under Ahmedabad Municipal Corporation limit), Vaishno Devi, SG Highway and Adalaj are expected to see maximum development in the year 2014. Developments of major projects along the corridor such as Riverfront, Gift City, IT parks (TCS, Infocity, and Raheja) are major drivers in the vicinity. Proximity to airport, railway station, BRTS corridor and proposed metro line are the added advantage to other developing areas in the city.
What will the impact of the upcoming general elections on the real estate sector in Ahmedabad?
I don’t think it will have any impact on growth of the city. Infect in both the cases it will be positive for Gujarat.
Which locations in the city witnessed maximum launches in year 2013? Why?
Chandkheda, Motera, New CG Road were the centre of development with the improvement in the mass transport system (BRTS). Development of number of IT companies and educational institutions in Gandhinagar has resulted in high demand for housing as well for commercialproperties. Number of launches was also registered in areas near Vaishno Devi and Gota.
Which were the most preferred property type, configuration and budget ranges across the city in the year 2013? Was the supply aligned according to the demand?
Residential apartments of 2 and 3 BHK were the most preferred category in the year 2013.
What was the volume of sales and stock in the year 2013 vis-à-vis the last year? Is there any un-sold inventory in the city that might impact real estate prices in the coming year?
New launches in the year 2013 were very less compared to 2011-12. This has not allowed too much of stock to pile up in the city.
Did you launch any new projects in 2013? If yes, where? Give details? Have you given possession of any of your projects in 2013?
We launched Sangath Posh offering 3BHK apartment and Sangath Pure offering 2BHK apartment in Chandkheda, Ahmedabad. Sangath Terraces, SG Road, Gandhinagar is ready for possession.
What are the five things you wish to happen in the real estate sector in 2014?
We want – large scale planned development in retail space, mainly malls; speed up of two most desirable projects Gift City and Riverfront; speedy development in metro project; vertical development should get promoted in the city; development authorities should encourage impactful, advance laws and their strict implementation.
Source : Rishab Jain, Magicbricks.com Bureau