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A prominent factor that has apparently given rise to the perception is their proximity to top builders and real-estate players in Ahmedabad where land and realty prices have skyrocketed in last decade. Ms. Anandiben’s decision to retain lucrative portfolios revenue and urban development with her even after she became Chief Minister has only added credence to theories that the family has huge interests in real-estate sector in the state's commercial capital Ahmedabad. Gift City Latest Update Mr. Modi, she was cabinet minister holding portfolios like revenue, urban development, road and buildings etc. When I was in revenue, I never came across any instance of interference or recommendation from any member of the Chief Minister's family notwithstanding the strong impression in the market. But most of the critical decisions regarding land and real-estate are taken at district collector or municipal commissioner level, a senior bureaucrat told The Hindu, indicating that interference could be at district level.

No wonder, besides, realty and land matters, another area where they allegedly influence the decisions is about appointments of district level officials in the state. Ahmedabad’s real-estate market is on an upswing because of to the huge growth of its industrial sector and the overall high rate of development, both in commercial and residential terms. It is the largest city of Gujarat, and also its commercial capital. It is the hub of the textile, pharmaceutical and chemical industries. Apart from being a well-established education centre (with national institutes like IIM, NID and CEPT) Ahmedabad has also established itself as a major IT/ITeS and retail destination. The combination of the favourable factors naturally Gift City News it a highly desirable residential destination. Ahmedabad’s real-estate market has grown tremendously over the past decade thanks to ultra-progressive policies and intelligent development governance. The city is providing extraordinary and unprecedented returns on the real-estate front, and is one of the most exciting investment destinations in India today. Developers and investors from all over the country are beating a straight path to Ahmedabad office space investments have shown amazing growth, with capital values for commercial properties rising by as much as 20-30 per cent in areas such as Prahladnagar, Sarkhej-Gandhinagar. Highway, Ashram Road and some parts of East Ahmedabad.

Residential property appreciation in the city has been to the tune of 50 per cent over the last three years. The areas currently commanding the highest demand for residential space are South Bopal, Bodakdev, Vastrapur, Nicol, Nava Naroda and New Ranip. Flats, apartments, serviced apartments, bungalows, penthouses and township properties are cropping up all over to meet the demand. In the past, residential development in was predominantly in the individual bungalow segment, and even today new bungalow schemes can be found on the outskirts of Ahmedabad city, especially along the Sardar Patel Ring Road. However, the scarcity of land and expensive real-estate prices in the city have brought in the trend of apartment houses in form of high-rise towers in the city the prime residential areas in the city are Shahibaug (in the northern part of the city), Satellite, Bodakdev, Vastrapur, Prahladnagar, Thaltej (in the western parts of the city), Maninagar and areas around Kankaria and Chandola Lake in the southern eastern parts of the city.

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