AHMEDABAD & VADODARA

DLF, the Rahejas, Godrej, Niho Constructions –– Ahmedabad has been witnessing a flurry of big players of late. Also a lot of players from state expanded presence in other regions. For instance, the Ahmedabad-based leading Adani Group clinched the biggest real-estate deal of Rs 2500-Rs 3000 crore for acquiring space in the premium Bandra-Kurla complex in Mumbai. The residential segment is seeing good demand from investors as well as actual buyers. And the demand in commercial segment is coming from retailers and corporates, mainly private banks and stock broking firms, which are expanding base here. The interest of top IT players is driving the demand for corporate spaces. Leading IT companies such as Infosys, Satyam, Wipro are eyeing Ahmedabad for the expansions. Also, big realtors such as DLF and the Rahejas are planning to come up with IT parks in Ahmedabad and Vadodara. Gujarat government’s policy of promoting knowledge cities is also working in its favour. “The retail as well as office space demand is expected to gain momentum. Several Tier-III cities in the population bracket of 60,000 to one million are on the radar of leading retailers. However, we don't expect oversupply of retail space in the city,” Trammell Crow Meghraj's vice president, retail, Shubhranshu Pani tells ET.