Post second wave of Covid, the four kilometre stretch from Iscon Crossroads to Bopal Junction recorded at least a dozen major land transactions worth Rs 1,500 crore.
Iscon-Ambli road with a series of swanky and upmarket residential and commercial properties is being recognized as the next uber posh address in Ahmedabad.
In fact, post second wave of Covid, the four kilometre stretch from Iscon Crossroads to Bopal Junction recorded at least a dozen major land transactions worth Rs 1,500 crore in the past year.
The plots along the road for which deals were closed, range from 5,000 to 10,000 square yards and are priced between Rs 1.80 lakh per square yard and Rs 2.70 lakh per square yard.
The road is in proximity to main clubs in the city and has easy reach to different areas in the city as well as the highway. This stretch already has a few premium luxury high-rise apartments in addition to upscale commercial and retail complexes and presence of a luxury hotel.
Dhruv Patel, vice-president, Credai Gihed, said, “Iscon-Ambli road has become the most sought-after pocket for premium residential development. Several leading developers are bullish about launching prospects in this area because demand is very good for ultra-luxurious houses.”
Many major city developers such as Sun Builders, Swati Builders, Iscon Builders, Sheetal Infrastructure, Palak Group, Sankalp Group etc have invested in land along this stretch over the past one year and have launched or are planning to launch projects soon. The higher FSI at Iscon-Ambli road leads to project viability’
Praveen Bavadiya, an Ahmedabad-based real estate consultant was quoted as saying, “Developers get higher FSI of up to 5.4 along this stretch and therefore, project viability goes up. Moreover, the demand for both residential as well as commercial properties is high along this stretch as the road is well-connected with industrial hubs of Sanand and Changodar. As a result, a lot of industrialists and top-ranked executives are buying homes along this stretch. The demand for commercial property is also growing steadily here,”
The demand for luxury apartments has gone up significantly since the Covid-19 pandemic as more and more people are keeping safety as their top priority in addition to various other amenities as they look for home to buy.
“Iscon-Ambli Road is developing as a high-end residential stretch and interestingly, it does not have mixed development. Thus, it is pegged and promoted as a premium locality and projects are getting good response. It has better connectivity with SG highway and SP Ring Road too,” said Saket Agrawal, an Ahmedabad-based developer.
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