Learn more by clicking our most recent Ahmedabad MarketBeat report on the various sectors below.
Ahmedabad MarketBeat Reports
01/07/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
CURRENT MARKETBEAT
Ahmedabad Office Report
Gross leasing volume (GLV) stood close to 0.1 MSF in Q1 2024, a 60% drop from the same period last year due to limited office supply in Ahmedabad. Q1 leasing activity was driven by the IT-BPM segment, contributing a 70% share. GIFT city submarket received good market traction, recording the highest share of 68% in the quarterly demand. Grade-A stock of 0.71 MSF was added during the first quarter across SBD and PBD submarkets, accounting for 62% and 32% shares, respectively. The city-level vacancy, recorded as 30.90%, saw a nominal rise of 74 bps q-o-q due to reduced leasing amidst steady supply. Quoted rents have remained stable q-o-q.
Ahmedabad Retail Report
Ahmedabad recorded healthy main street leasing volume of ~67,000 SF in the first quarter of 2024. Fashion (~23%) and footwear (~18%) drove quarterly leasing activity. Leasing activity was concentrated in prominent main streets like Sindhu Bhavan Road and Shyamal Cross-roads (~25% together). Overall city-wide mall vacancy has dropped by ~17.60% in Q1-2024 on a q-o-q basis. Main street rentals witnessed a 10-15% growth on a y-o-y basis.
Ahmedabad Residential Report
Ahmedabad residential market saw strong quarterly launches, dominated by mid-segment holding 52% share. High-end and luxury segments collectively captured 43%, witnessing 27% q-o-q growth. West & West Peripheral submarkets entailed nearly half of the new launches while the Northern market captured nearly 30% share. Average quoted rentals across northern and western submarkets saw 2-5% q-o-q growth. Capital values increased 3-5% q-o-q.
Ahmedabad Industrial Report
Warehouse leasing volume recorded 40% growth over H2 2022 but a 20% drop compared to H1 2023. The annual warehouse leasing was driven by the Engineering & Manufacturing segment (53%). Leasing activity was driven by a prominent packaging material manufacturing company contributing to a 75% growth on a yearly basis. The 10th Vibrant Gujarat Global Summit is likely to boost momentum in the industrial corridors by attracting global players to invest across sectors. Rental values across all submarkets have witnessed an average of 3-7% rise while land values have appreciated 25-45% y-o-y growth in the Changodar and Aslali.
RELATED INSIGHTS
Insights • Investment / Capital Markets
Is India Building Enough to Power Its Digital Transformation?
It is estimated that India will be adding 464 MW of new Colo capacity each year until 2028. Despite this, India still needs to catch up with other comparable nations. We believe that accelerating this pace could unlock significant opportunities for India’s data centre and technology sectors.
27/06/2024
Research • Workplace
Pan India leasing volumes remained strong in Q1 2024, crossing the 20 MSF mark for the third time in the post Covid period. A gross leasing of over 20 MSF for two consecutive quarters is a significant record for the office real estate market, suggesting that activity in India is moving on a higher plane.
14/05/2024
Insights
Five Fast City Facts Bengaluru Q1 2024
What You Need to Know in Today's Bengaluru Commercial Real Estate (CRE) Market.
03/05/2024