Ahmedabad: The resurrection of strong demand and the lowest inventory of unsold donated the launch and sales of new homes in Quarter July-September.
The launch of a house in Ahmedabad Market surged 193% to 4,257 in the third quarter of the current calendar year.
The launch had been established at 1,176 in the same quarter last year, declaring a report by Knight Frank India.
In fact, Ahmedabad recorded the second highest growth in the new launch between the top eight cities in India.
Hyderabad occupies a list of lists with a growth of 650% during the quarter, reports of further real estate consultants show.
Likewise, the sale of housing units in the quarter that was being reviewed rose 37% to 1,607 units from 1,176 units in the same period in 2020.
Ahmedabad was between the two bottom cities in terms of sales growth.
The upgraded Amdavadis needs to own a house, move to a larger house, lower the selling price, and record low interest rates is the main driver to increase demand in the housing real estate market, the real estate developer said.
“While on the one hand, there has been a strong demand for housing units in the entire category, on the other hand, the inventory that is not sold quickly runs out to the lowest level.
To meet the resurrection demand amid the lowest inventory, the more developers have come up with the project The new project, “said Tejas Joshi, President, Credai Ahmedabad-Gihed, a chapter of the city from the Confederation of the Real Estate Developer Association (Credai).
“The real estate market is currently very positive with the threat of a third wave vaccination drive and vaccination runs very strong.
This further helps in increasing market sentiment,” he added.