Ahmedabad MarketBeat Reports
Suvishesh Valsan • 10/04/2025
Cushman & Wakefield Ahmedabad 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
Ahmedabad office market recorded gross leasing volume (GLV) of ~70,000 SF in Q1 2025. Leasing was driven by IT–BPM, holding a 68% share, followed by professional services firms (18%) and flexible workspace operators (12%). No new supply led to decreased vacancy rate of 24%. At a sub-market level, CBD and SBD witnessed ~24% vacancy each, while the GIFT City witnessed only ~7%. Quoted rents in some of the buildings in SBD and GIFT City sub-markets rose by 5-10% q-o-q.
Ahmedabad Retail Report
Ahmedabad saw retail leasing volume of ~50,000 SF in Q1 2025. Main streets led with an 87% share while the remaining was contributed by malls. Fashion stores dominated with ~53% share. Mall leasing was largely concentrated around fashion, accounting for a ~90% share. Muted mall supply led to a decline in mall vacancy rates, with superior grade malls witnessing tight vacancies in the range of 2-4%. Main street rentals between Sarkhej to Thaltej locations grew 5-6% q-o-q and 2-3% on Sindhu Bhavan Road and C.G. Road.
Ahmedabad Residential Report
Ahmedabad witnessed new supply of 5,226 residential units in Q1-25. GIFT City sub-market led with 32% share, while West Peripheral and North Peripheral sub-markets comprised 28% and 24% share, respectively. Mid segment sustained dominance, capturing 60% share while the high end segment reported ~1,800 unit launches, a 3x q-o-q growth. Capital values for high-end category appreciated 10-12% y-o-y in the West sub-market. Rental values increased 20-25% y-o-y in the North and East sub-markets.
Ahmedabad Industrial Report
Ahmedabad saw warehouse leasing of ~0.5 MSF in H2 2024, 85% higher than H1-24. Changodar and Kheda were the top two sub-markets with a 50% and 31% share, respectively. Engineering and manufacturing led with 37% share, followed by E-commerce (31%) and 3PL (17%) firms. Ahmedabad witnessed 0.2 MSF of industrial leasing. Sanand led with a 71% share, followed by the Changodar sub-market (26% share). Land values appreciated at an average of 20-25% y-o-y.
India Capital Market Report
Cushman & Wakefield India Capital MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
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