Many new areas with good affordable residential realty projects are surfacing on the outskirts of Ahmedabad and Chandkheda is one amongst them.
Once a locality with bumpy roads, debris spread all around and no basic facilities, has now completely transformed into an excellent residential locality, with good schools, shops, restaurants, hospitals, stadiums, etc. In fact, Chandkheda, a suburban neighbourhood in north-west Ahmedabad, has undergone a complete makeover, leading to an increase in the number of residential projects in the area. There are many affordable housing schemes in the region and this is attracting a large number of people.
Chandkheda lies west to Sabarmati River and is in northern portion of Ahmedabad. From January 19, 2008, Chandkheda became a part of Ahmedabad city, under Ahmedabad Municipal Corporation and Daskoi taluka.
What makes Chandkheda such an in-demand location is the medium-to-long term potential of the area added with the current price point. The area has quite a decent rental demand as well since the average rental values of the residential projects are as modest as around Rs 6-8 per sq feet. In terms of livability index also, the area scores pretty high. The locality is home to a number of reputed educational institutions and hospitals.
Jimish Sheth, a developer, avers, “In terms of connectivity, Chandkheda is very well connected to the neighbouring markets through the BRTS and good road network. Further, city’s major railway station, Ahmedabad Junction railway station is located about 11 km from Chandkheda. The airport is also 14 km away only. Further, the Sardar Patel Ring Road passes through one side of the locality and this is a major link connecting to the Sarkhej-Gandhinagar Highway (SG Highway).”
Factors driving the demand
Another factor which is driving demand in Chandkheda is affordable housing projects. Affordability becomes a major issue when it comes to looking for a home. Keeping in mind the volatile market conditions, this becomes an even more important criterion for house hunters. This is one of the reasons that homebuyers are increasingly moving beyond the conventional areas to regions which may be a little far, but have all the basic amenities and are connected well with the city. This is, in fact, one of the major reasons driving the property demand in Chandkheda.
“Over and above all catalytic points, the other main factor that has helped in the growth of the real estate sector of Chandkheda is the presence of Oil and Natural Gas Corporation (ONGC) in the vicinity. Most of the ONGC officers choose to stay in this suburb of Ahmedabad rather than in the busy city itself,” points out Sheth.
In a nutshell
The real property rally is just about to begin here. This is because Chandkheda is on the verge of seeing a major explosion in the IT sector. With many software companies slowly trickling in, the future looks bright for this locality. To add to this, Chandkheda is one of the proposed locations to have a metro station. Once this gets operational, there will be greater connectivity and this will help in further development of infrastructure in the area. Collectively, these factors are expected to greatly impact the residential and commercial real estate markets of Chandkheda. As of now, residential property in Chandkheda consists of a large number of apartments. In addition, there are several housing societies and townships. Affordability is the main factor behind people investing in residential properties in this locality.
All this makes a convincing case for house hunters to choose Chandkheda as a location for their dream home.
Source: Times Property, The Times of India, Ahmedabad