Launch of a residential project up 26% in the State: Rera | Ahmedabad News

Ahmedabad: Responding to surging demand in residential real estate, new project listings increased by 26% in 2021-22 year-on-year in Gujarat. According to data from the Gujarat Real Estate Regulatory Authority (GujRERA), 17,444 new projects have been registered in Gujarat so far in 2021-22, compared to 13,949 last year.
As demand increases, developers come up with new residential projects. According to developer estimates at the Gihed Property Show which kicked off in Ahmedabad on Friday, there is at least a 15% increase in new home sales across affordable, upscale and luxury residential schemes. The show presents more than 250 commercial and residential projects. The post-pandemic trend of larger, more functional homes is growing.
Tejas Joshi, Chairman of Credai Ahmedabad GIHED, said, “The demand for residential real estate has been phenomenally good. Holi is a good time for new project launches and for people buying new homes and so soon after the real estate fair the conversion will be good. Interest rates for home loans are attractive and at the same time people have understood the importance of a good spacious house. As a result, demand and project launches have increased.
Prices for residential real estate projects should remain stable for at least a month.
The developers are closely monitoring the situation of the war between Ukraine and Russia and say that if the increase in steel and cement prices is a temporary phenomenon, they will not pass on the additional costs.
Apart from residential real estate projects, inquiries are also good for commercial projects. “The demand for coworking spaces is increasing dramatically with a number of start-ups as well as small businesses springing up across the city. The IT/ITES policy recently released by the state government is also boosting demand significantly of commercial real estate,” said an Ahmedabad-based developer.

Comments are closed.