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New residential projects to come up in Vasna

Vasna, a residential locality in Ahmedabad is witnessing a lot of real estate development lately. Its proximity to commercial places such as Sarkhej-Sanad Highway, Ashram Road and CG Road has pushed the residential demand for multi-storey apartments up in the locality.

The presence of industries such as Tata Nano, Vodafone Essar, Reliance, Nirma and Arvind has brought many corporate professionals to seek permanent and temporary residency in Vasna. Therefore to cater the high demand, the new developers have joined the profitable bandwagon and are launching new projects one after the other, says market sources.

Arjav Shah of Arjav Estate Consultancy says, “The stone throw away distance to commercial hubs makes Vasna a preferred destination to stay for professionals.” The area is 4-5 kms away from Sarkhej-Sanad Highway, Ashram Road and CG Road, which is considered to an advantage for the daily travellers.

The projects such as Sugam Residency by Sugam Constructions, Shalin Apartments by Shalin Constructions, Rameshwara Elegance by Paras Builders, Yuthika by Yuthika Constructions, Stavan Anitra by Sambhav Group, Shaival Exotica Shaswat Developers and Prathmesh II by Prathmesh Developers are just a few to name.

Being well connected by the Ahmedabad Railway Station, Sardar Vallabhai Patel International Airport and The BRTS corridor, also make the area a preferred location for the buyers.

Owing to the increased demand of buyers, prices of multi-storey apartments have risen in the Apr-Jun quarter, 2012 by 7 per cent with the capital values ranging between Rs 2,600-5,000 per sq ft. The rentals too have witnessed a hike in the last one quarter by 5 per cent. They range between Rs 10,000-15,000 for 2BHK and Rs 16,000-25,000 for 3BHK.

“The area is affordable as compared to other residential hubs such as Satellite, Drivein and Gurukul thereby attracting middle and upper middle class,” says Dinesh Gandhi of Parth Estate Consultants.

Also, the locality houses temples such as Jai Hindu Temple, Dharmisar Mandir and Swaminarayan Temple making the locality popular amongst local Gujaratis.