4 ms·

your claim about real estate prices is surely in jest.

by jayp 18y ago

jayp 18y ago
WTF, why am I getting moderated down? To be clear: I was referring to the "fact" that real estate prices are not being affected in Ahmedabad due to a car plant being built in a location about 50km away from the city. That is simply not true -- my parents are in the market to sell their house in Ahmedabad, and the price is nowhere close to what they would have gotten a year ago.
- ajju 18y ago
  The fact that the Gujarat govt. managed to convince Tata to bring the Nano plant to Gujarat is just the most noticeable example of how, for all the chief minister's flaws, he has done well at attracting commerce to the state. And that is what has kept the prices there up (relatively speaking). The city infrastructure development [3] has been happening at an incredible pace (for India anyway). This (along with Ahmedabad's property prices being low compared to Bangalore or Mumbai) has attracted a bunch of companies to move there. For example just last week Vodafone moved their service hub to Ahmedabad and relocated 1500 employees there [2]. In the area near the nano plant (which is less than 15 KMs from the posh residential areas in West Ahmedabad like Satellite Rd) prices have definitely gone up very very substantially [1] because of the plant itself and how quickly builders have latched onto the opportunity to develop the area: for e.g. the Gulmohar greens golf club is coming up pretty close to the place and Goyal just launched another development there. I know because my parents have owned land in that area for almost 10 years that was worth almost nothing and is now suddenly worth a lot! Within Ahmedabad proper, in the western areas prices haven't gone down anywhere close to they have in Bangalore, for example and in some cases have gone up. I don't know what kind of house your parents are looking to sell or where (the eastern end - the old city is not very attractive to outsiders who move to the city). Also, an incredible amount of new/modern construction has happened in the past few years. Also, FWIW, I did not mod you down. 1: http://www.ndtv.com/convergence/ndtv/story.aspx?id=NEWEN20080069466 http://www.ndtv.com/convergence/ndtv/story.aspx?id=NEWEN2008... 2: http://www.business-standard.com/india/news/ahmedabad-set-to-become-vodafones-services-hub/352206/ http://www.business-standard.com/india/news/ahmedabad-set-to... 3: http://en.wikipedia.org/wiki/Ahmedabad_BRTS http://en.wikipedia.org/wiki/Ahmedabad_BRTS Edit: FWIW here's an article about a builder that cut prices by 30% (and 40% of his houses got booked on the first day). Note though that his project is in Paldi which is still central Ahd. http://www.moneycontrol.com/india/news/business/ganesh-housing-cuts-prices-by-30-gets-good-response/390282 http://www.moneycontrol.com/india/news/business/ganesh-housi...

your claim about real estate prices is surely in jest.

by jayp 18y ago

your claim about real estate prices is surely in jest.

jayp 18y ago

WTF, why am I getting moderated down? To be clear: I was referring to the "fact" that real estate prices are not being affected in Ahmedabad due to a car plant being built in a location about 50km away from the city. That is simply not true -- my parents are in the market to sell their house in Ahmedabad, and the price is nowhere close to what they would have gotten a year ago.

ajju 18y ago
The fact that the Gujarat govt. managed to convince Tata to bring the Nano plant to Gujarat is just the most noticeable example of how, for all the chief minister's flaws, he has done well at attracting commerce to the state. And that is what has kept the prices there up (relatively speaking). The city infrastructure development [3] has been happening at an incredible pace (for India anyway). This (along with Ahmedabad's property prices being low compared to Bangalore or Mumbai) has attracted a bunch of companies to move there. For example just last week Vodafone moved their service hub to Ahmedabad and relocated 1500 employees there [2]. In the area near the nano plant (which is less than 15 KMs from the posh residential areas in West Ahmedabad like Satellite Rd) prices have definitely gone up very very substantially [1] because of the plant itself and how quickly builders have latched onto the opportunity to develop the area: for e.g. the Gulmohar greens golf club is coming up pretty close to the place and Goyal just launched another development there. I know because my parents have owned land in that area for almost 10 years that was worth almost nothing and is now suddenly worth a lot! Within Ahmedabad proper, in the western areas prices haven't gone down anywhere close to they have in Bangalore, for example and in some cases have gone up. I don't know what kind of house your parents are looking to sell or where (the eastern end - the old city is not very attractive to outsiders who move to the city). Also, an incredible amount of new/modern construction has happened in the past few years. Also, FWIW, I did not mod you down. 1: http://www.ndtv.com/convergence/ndtv/story.aspx?id=NEWEN20080069466 http://www.ndtv.com/convergence/ndtv/story.aspx?id=NEWEN2008... 2: http://www.business-standard.com/india/news/ahmedabad-set-to-become-vodafones-services-hub/352206/ http://www.business-standard.com/india/news/ahmedabad-set-to... 3: http://en.wikipedia.org/wiki/Ahmedabad_BRTS http://en.wikipedia.org/wiki/Ahmedabad_BRTS Edit: FWIW here's an article about a builder that cut prices by 30% (and 40% of his houses got booked on the first day). Note though that his project is in Paldi which is still central Ahd. http://www.moneycontrol.com/india/news/business/ganesh-housing-cuts-prices-by-30-gets-good-response/390282 http://www.moneycontrol.com/india/news/business/ganesh-housi...