C.G. Road, located at Ahmedabad West is among one of the premium locations of Ahmedabad. It houses most of the premium commercial offices and retail showrooms of the city. The road starts Mahalaxmi Crossroads and ends at Sardar Patel Stadium Crossroads, connecting Paldi to Navrangpura.
The area has seen an appreciation of 5-7% in capital values while a 10-15% hike in rental values during the Oct-Dec quarter compared to Jul-Sep quarter last year. According to Prakash Jain from Sterling Ltd, “Commercial land available for sale in C.G. Road is witnessing maximum number of transactions. C.G. Road is one of the main commercial hubs located in the central business district (CBD) area of Ahmedabad and thus is popular among the buyers and developers.”
C.G. road is strategically located and has well-developed physical and social infrastructure. Next to premium commercial complexes, five star hotels and upmarket residential localities, it is an ideal place to set up offices and showrooms. It has properties in both Grade A and B categories and is priced accordingly. Grade A property, that is premium fully furnished property is available in the price range of Rs 8,000 to 10,000 per sq ft while a Grade B property ranges from Rs 3,000-8,000 per sq ft. The available features, location and plot area also contribute to value rise, Suresh Vasani, property consultant at Ahmedabad Properties said.
Good connectivity with the major hubs of the city as well as with developing areas in the outskirts are the other additional features attracting demand from buyers and developers.
Few of the popular commercial properties available on C.G. Road are Eternia, Venus Square, Vishv Arcade, Shree Balaji Paragon, Shopper Plaza, Mall Panchvati etc offering space for offices and retail outlets.
Most of the properties available are in re-sale segment but still is witnessing fair to good number of transactions. The area is a hub for commercial properties and witnessed transactions and demand throughout the year. However, the number of transactions have increased by 30-40 % in the past 6-8 months owing to expansion of IT and retail sector in Ahmedabad, Vasani added.
According to Ashwin Kumar from Sai Properties, “there is an upcoming mall in pipeline on C.G Road which will further increase transactions, demand and values.”
Source- MagicBricks.com Bureau