Located between Ahmedabad and Gandhinagar, Motera and Chandkheda are the two peripheral localities that are witnessing gradual real estate development on the backdrop of improving accessibility. While Motera enjoys smooth connectivity through the six-lane Visat-Gandhinagar Highway, Chandkheda has a railway station at a distance of 1.5-2 kms through the Tragad Road. Motera’s proximity to the airport is another advantage offered by the locality.
As per data with MagicBricks.com, apartments of 900-1,500 sq ft in Chandkheda are available in the range of Rs 2,200-2,600 per sq ft. Thus, a 900-sq-ft apartment in Chandkheda, for instance, is available at Rs 19-20 lakh. The same-size apartment in Motera, is available in the range of Rs 27-50 lakh. “Availability of facilities such as banks, hospitals, restaurants and commercial complexes, are also making Motera an attractive real estate destination,” informs Nitin Mehta, a city-based realtor.
“The development of the Bus Rapid Transit System (BRTS) and SP Ring Road, are also fuelling real estate demand in the peripheral areas,” points out Eric Shah, director, Sangath Infrastructure.
BRTS will improve the inter-city connectivity in these areas and will ultimately give a fillip to the real estate market. In addition, the knowledge corridor that houses many eminent educational institutions such as Gujarat National Law University, Institute of Seismic Research, Pandit Deen Dayal Petroleum University, is also in the vicinity. This is also driving demand.
So, who is buying? Professionals working in IT companies such as Tata Consultancy Services (TCS), Amar Infotech and Amisys Software Developers have been preferring these localities. Both the localities are also witnessing demand for rental accommodation.
People working in Oil and Natural Gas Corporation (ONGC) in Chandkheda, usually prefer these localities to save their daily commute time. Apart from this, people working in Gandhinagar also consider these areas as potential locations for taking a home on rent.
Currently, a 2-BHK apartment in a multi-storeyed building, for rent in these localities, is available for Rs 7,000-8,000 and a 3-BHK for Rs 9,000-12,000 per month, informs Anirudh Upadhyay, Emerald Properties. Since these areas are on the outskirts of the city, residents in these locations can expect a decongested environment and low population density.
Source: Times Property, The Times of India, Ahmedabad