Learn more by clicking our most recent Ahmedabad MarketBeat report on the various sectors below.
Ahmedabad MarketBeat Reports
30/09/2024
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
Ahmedabad recorded gross leasing volume (GLV) of 0.25 MSF in Q2 2024, a 2.5X jump from Q1 2024, driven by professional services (~61% share), engineering & manufacturing (~18% share) and flexible workspace segment (~16% share). SBD submarket recorded a quarterly demand share of ~89%, followed by the CBD market (~11% share). The city anticipates ~2.36 MSF of new office space by year-end. A robust supply of ~ 6.90 MSF is scheduled between Q3 2024 and the end of 2026. City-wide quoted rents remained stable q-o-q.
Ahmedabad Retail Report
In Q2 2024, Ahmedabad saw main street leasing volume of ~60,500 SF. Fashion segment dominated with ~33% share, followed by F&B (~18% share) and accessories & lifestyle (~16% share). Malls recorded ~10,000 SF of leasing activity. Superior grade malls across the city continue to record tighter vacancies in the range of 3.5-4.5%. Main street rentals have largely remained stable q-o-q but witnessed 10-15% growth y-o-y, while prominent streets witnessed 10-30% y-o-y rental appreciation.
Ahmedabad Residential Report
Ahmedabad residential market witnessed new supply of 5,326 units, marking a 5% q-o-q growth in Q3-24. The launches were primarily driven by markets such as Bopal (41%) and Naranpura (20%). The mid-segment dominated with a 77% share, while high-end segment accounted for 17% of new launches. Capital values in the high-end segment grew by 4% q-o-q. Rental values rose by 2-5% in the high-end segment and by 2-8% in the mid segment on a quarterly basis.
Ahmedabad Industrial Report
Ahmedabad saw warehouse leasing volumes of ~0.27 MSF in H1 2024. Engineering and manufacturing led with 65% share. The Changodar submarket witnessed ~65% of total warehouse leasing activity followed by Kheda (~18% share). Two prominent automobile manufacturing plants in Sanand and Changodar accounted for ~86% of the total industrial leasing volume. Rental values in Changodar and Aslali submarkets witnessed 2-8% y-o-y growth. Land values increased by 15-30% y-o-y in the Changodar and Aslali submarkets.
India Capital Market Report
Q2 2024 witnessed massive investment inflows amounting to INR 231.5 Bn (USD 2.77 Bn), marking a 1.5x q-o-q growth. The Logistics & Industrial (L&I) segment led with 56% share.
RELATED INSIGHTS
Insights
India, the world’s fastest-growing economy, is set to reach USD 5 trillion by 2027, becoming the third largest globally. This growth will bring numerous opportunities, especially in consumption-driven sectors like retail.
19/09/2024
Research • Workplace
From Flex to Managed: Evolution of the Flex Space Industry
The evolution of the flex segment in India’s office market has been a story of rapid transformation. The flex space operator footprint surged by 23% in 2022 and 18% in 2023, marking the sharpest rise seen in history! With H1-24 already adding about 5 MSF to the total inventory, 2024 continues to maintain this momentum.
03/09/2024
Research • Workplace
REWORKING the Office Asia Pacific
Our ‘REWORKING’ series examines decision-making for occupiers under four key considerations: Cost, Carbon, Culture and Community – under which the changing demands, needs and impacts on office spaces and strategies can be examined.
Khurshed Gandhi • 03/11/2023