What makes Ahmedabad’s Bopal a thriving property market?

[ecis2016.org] From a gram panchayat area, Bopal’s inclusion in Ahmedabad’s municipal limits, has given a boost to its property market. We look at the options available and property prices in this emerging suburb

Bopal, once a sleepy, rural town, is now a bustling urban residential hotspot. In February 2015, Bopal was merged into the Ahmedabad municipality. Prior to this, the area was under the gram panchayat and remained largely undeveloped. It was in 2012-13, when infrastructure development started and developers started looking at the area as a prospect for housing development, owing to its proximity to the bustling IT hub. Today, Bopal is a thriving realty hotspot for affordable, as well as luxury housing, as almost all major local and national builders have launched their projects here.

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Connectivity to Bopal

Bopal is situated on Sardar Patel Ring Road. It enjoys proximity to key employment hubs, such as Prahlad Nagar, Sanad, etc., which drive the residential demand in this area. Apart from this, the upcoming metro station at Rajiv Nagar is just 5 kms from Bopal, which will connect the area to the rest of the city including Sabarmati, Motera and Vastral Gram. The metro connectivity is scheduled to open by 2020.

“One of the main things that make Bopal a convenient place to stay, is the availability of Ahmedabad Municipal Transport Service (AMTS) buses from here. It is easier to commute, as compared to Gota or any other nearby area, where bus services are rarely available,” says Parth Rathod, a resident of Bopal.

Social and physical infrastructure in Bopal

Bopal has developed into a self-sufficient neighbourhood of Ahmedabad. It has international schools, banks, pharmacies, hospitals, shopping malls and complexes in close proximity. A number of high-end restaurants and eateries have come up in the area recently, which attract the migrant population and young couples. The residents of south Bopal mainly comprise of company executives and senior management, which makes it a posh neighbourhood.

Property options in Bopal

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Bopal is one of the fastest-growing localities in Ahmedabad, with ample ongoing development, in terms of infrastructure and real estate projects. According to Makaan.com data, there are over 400 ready-to-move-in projects and 33 are under construction. One can find options starting from Rs 16 lakhs up to Rs 2 crores.

Check out price trends in Bopal

Source: makaan.com

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Property prices in Bopal

“Ahmedabad’s economy in general and real estate in particular, have historically been fuelled by the business community and also a good proportion of the NRI diaspora. This will continue to be the case, as Gujarat remains an engine for India’s growth. It is also a key node on the Delhi-Mumbai Industrial Corridor, which will be an economic highway to India’s future growth,” says Amandeep Singh, business head – west and east, Godrej Properties Limited. “From the perspective of rental yields, one can expect 2.5%-4% annual returns, on residential property on a base value of Rs 30-50 lakhs. The interest in office spaces in these sub-markets, along with other infrastructure development around the periphery of the city through road and metro linkages, will reflect on the residential market its vicinity,” adds Singh.

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Check out properties for sale in Bopal

Commercial development in Bopal

A number of high-end retail and office complexes are coming up in the Bopal-Ambli stretch, which is also known for its luxury offerings. These are some of the most expensive offerings in the suburbs, because of the benefits available here, such as the BRTS facility for office-goers and the extra FSI which has made way for residential and commercial skyscrapers. However, there is limited supply for such plots, which have pushed prices further up.

Things to watch out for

Hard water issues: With 700 residential societies, the municipality supplies water from 23 borewells to 30% of the population, while the remaining 70% rely on their own borewells. With groundwater being the main source, the residents have to depend on bottled water or buy RO systems. Moreover, the water drawn from the borewells has high TDS levels.

No fire station: There is no fire station in the area and in the event of a mishap, fire tenders will have to be summoned from Bodakdev or Prahladnagar, which could take at least 20-25 minutes to reach the area.

Drainage issues: This is a recent issue being raised by the residents of Jal Vihar Society and Sterling City, who have complained that the land opposite to the society has been flooded with gutter water and has turned into a breeding ground for mosquitoes. A complaint has also been filed with the Ahmedabad Municipal Corporation.

Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle